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Midnite Raises Over $2.5M in Funding

Niji Narayan

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Midnite Raises Over $2.5M in Funding
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Midnite, the London-based esports betting startup, has raised just over $2.5 million in funding. The “strategic” investment is led by gaming-focused venture firm Makers Fund.

Previous investors in Midnite include London VC firm Venrex Investment Management, as well as unnamed “founders and executives” from leading gaming companies, including Betfair and GVC. The new round brings the total raised by the 2016-founded company to around $4.5 million.

“The esports market is seeing rapid year-on-year growth and we believe that betting represents the single biggest opportunity in this space. Wagering on esports is expected to exceed $12 billion by the end of 2020, making betting already one of the fastest growing verticals within esports,” Midnite co-founder Nick Wright said.

However, despite the size of opportunity, Wright says that for most big sports betting sites, esports is “just another tab” in their legacy sports betting offering, but that esports fans are not simply just another type of sports fan. “They are an entirely new customer category and deserve a platform tailored to them,” he says. “This is why Midnite exists.”

With that in mind, Wright pitches Midnite as an “entertainment platform” that provides an immersive experience for esports fans. He says fans get the thrill of watching, analysing and betting on their favourite teams and players as they face off in tournaments around the world.

“What makes esports differ from other sports is the constant action and its highly dynamic nature. This is conducive to a variety of live betting opportunities that you can seldom find in real sports. Users can bet on your standard match winners and losers, but they can also bet on unique selections such as next kill or next objective achieved while matches are in-play,” Midnite co-founder said.

“In the past, betting on esports has been carried out by unregulated operators, which meant that the unregulated market was several times bigger than the regulated market. Many operators offering esports betting would not be licensed, were not taking responsible gambling seriously or even performing age verification checks. This meant customers want to bet on esports were often placing themselves at risk. We are creating a safe and responsible environment for these fans. Customer safety is our top priority and we are taking it very seriously. We are doing everything by the book to ensure our community is safeguarded and are compliant with all the regulations in markets where we are operational,” he added.

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eSports

WePlay! Mad Moon Schedule

George Miller

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WePlay! Mad Moon Schedule
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The official schedule of WePlay! Dota 2 Tug of War: Mad Moon.

WePlay! Dota 2 Tug of War: Mad Moon with a prize pool of $300,000 will take place on February 19 – 23, 2020.

We are excited to announce the official schedule of WePlay! Mad Moon (in CET).

Wednesday (19 February)

  • 12:00 — Pre-show
  • 13:00 — Initial Matches (Bo3)

– Team Secret vs. B8
– Gambit Esports vs. Infamous Gaming
– Virtus.pro vs. Aggressive Mode
– Ninjas in Pyjamas vs. Team Nigma

  • 16:00 Winner’s Match for (Group A) / Elimination Match (Group B) (Bo3)
  • 19:00 Winner’s Match for (Group B) / Elimination Match (Group A) (Bo3)

Thursday (20 February)

  • 12:00 — Pre-show
  • 13:00 — Group A Decider (Bo1)
  • 14:30 — Group B Decider (Bo1)
  • 16:00 — Upper-Bracket Round 1 (Group A 2nd vs. Group B 3rd) (Bo3)
  • 19:00 — Upper-Bracket Round 2 (previous match winner vs. Group B 1st) (Bo3)

Friday (21 February)

  • 12:00 — Pre-show
  • 13:00 — Upper-Bracket Round 1 (Group A 3rd vs. Group B 2nd) (Bo3)
  • 16:00 — Lower-Bracket Round 1 (#1) (Bo3)
  • 19:00 — Upper-Bracket Round 2 (#2) (Bo3)

Saturday (22 February)

  • 12:00 — Pre-show
  • 13:00 — Lower-Bracket Round 1 (#2) (Bo3)
  • 16:00 — Lower-Bracket Round 2 (Bo3)
  • 19:00 — Upper-Bracket Finals (Bo3)

Sunday (23 February)

  • 13:00 — Pre Show
  • 14:00 — Lower-Bracket Finals (Bo3)
  • 18:00 — Grand-Finals (Bo5)
  • 22:00 — Closing Ceremony

On February 20 – 23, the teams will fight in front of a live audience at concert hall VDNG (9th pavilion). Tickets are available for free on the tournament page.

#MadMoon, #WePlayDota2

Source: WePlay! Esports Press Office

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eSports

Virtus.pro will play at WePlay! Mad Moon

George Miller

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Virtus.pro will play at WePlay! Mad Moon
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VP is the last team to join the tournament.

WePlay! Dota 2 Tug of War: Mad Moon with a prize pool of $300,000 will take place on February 19 – 23, 2020.

We are delighted to announce Virtus.pro as the last team to join the lineup of WePlay! Mad Moon.

Here are the groups for WePlay! Dota 2 Tug of War: Mad Moon:

Group A

  • Team Secret 
  • Gambit Esports 
  • Infamous Gaming
  • B8 

Group B

  • Virtus.pro
  • Ninjas in Pyjamas
  • Team Nigma
  • Aggressive Mode 

The groups will be played in GSL style. The decider matches are best of 1, while the rest are best of 3. Group winners will be seeded directly in the upper bracket semi-finals; fourth-place finishers are eliminated; the rest of the teams join the upper bracket quarter-finals.

On February 20 – 23, the teams will fight in front of a live audience at concert hall VDNG (9th pavilion). Tickets are available for free on the tournament page.

Learn more about the event on weplay.tv

#MadMoon, #WePlayDota2

Source: WePlay! Esports Press Office

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Baltics

UltraPlay signs deal with WINBET

George Miller

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UltraPlay signs deal with WINBET
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B2B iGaming company UltraPlay has signed a deal to provide its multi award-winning eSports betting solution to WINBET, an online betting website operating on the Bulgarian market.

UltraPlay’s eSports product will power up WINBET with its unrivaled coverage of competitive games, pre-match and live odds. WINBET will be one of the few sportsbooks on the Bulgarian market to offer extensive eSports coverage and effectively engage with the new generation of bettors. Combined with UltraPlay’s Hybrid eSports live betting model, real-time data, scores and settlements, WINBET’s players will receive fast and secure betting on eSports.

This partnership further confirms UltraPlay’s leading position in providing eSports betting solutions to sportsbooks across markets.

Mario Ovcharov, CEO of UltraPlay, said: “We are delighted to announce our new partnership with one of the leading licensed operators in Bulgaria. WINBET is a well-known and trusted brand with a rapidly growing sportsbook. We share a common vision for progress and long-term partnership, which will be bonded by eSports as a new and exciting vertical for their players.”

Tsvetin Yordanov, WINBET’s CEO, said: “WINBET is a brand that has always tried to offer the very best and diverse content to its clients. In adding eSports to our betting portfolio, I saw an opportunity to expand our market share by satisfying a newly emerging client demand, while continuing to follow our “brand way”. In order to achieve our goals we knew we had to find a reliable business partner, with a proven and successful product. I am very pleased that we found that partner in UltraPlay and I believe that this is the beginning of a long and very successful partnership.”

Over the last two years, UltraPlay has been awarded with twelve accolades for its overall eSports betting provision. The latest one for eSports Betting Software was received from the International Gaming Awards 2020, which were held in London last week. Following up with the ODDS.GG constant developments, the company has recently released its new web design, aligned with the latest UX/UI design trends.

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