Favourit announces global iOS launch
Australian social bookmaker launching Series A funding round following release of new mobile offering.
Australian social betting platform Favourit has announced the global launch of its iOS platform, aiming to build on its existing web and mobile offerings.
Favourit, which aims to act as a “Facebook for the sports betting world,” allows fans to bet on sports including football, basketball, rugby and Australian-rules football. Players can place virtual currency or real-money bets through partnerships with a number of international bookmakers including Paddy Power and its Australian brand Sportsbet, and TABcorp’s Luxbet subsidiary.
The app also features Favourit’s proprietary TipTracker feature to follow global betting trends and view betting tips from leading tipsters or friends, while users can gauge tipsters’ expertise using the Bet IQ feature, which rates bettors on their successful punts.
Commenting on the iOS launch, Favourit chief executive and co-founder Toby Simmons said: “Social media platforms have changed the way we communicate on so many levels, and Favourit harnesses those capabilities for sports fans, giving them a revolutionary new way to discuss their teams, see the latest trends and stats from experts, and place virtual or real bets to increase the excitement of following the sports they love. While there’s nothing better for sports fans, this is also the future for sports betting operators.”
The operator, which launched with a “100% unofficial” Olympic betting promotion in June last year, is now gearing up to launch a Series A funding round to expand into new markets worldwide, with a focus on the US and Asian markets. It launched with AUS$3.5m (£2.4m) in funding from international and local investors including Ellerston Captial Technology Fund and Pier Capital.