FansUnite, a leading provider of online sports betting solutions, has announced that it has secured over CDN$5 million in funding for its B2C subsidiary, McBookie. The funding will be used to expand McBookie’s operations and enhance its product offerings, as well as to support the company’s growth in the UK market.
McBookie is a popular online sportsbook that offers a wide range of betting options on various sports, including football, horse racing, and tennis. The platform has gained a strong reputation in the UK market for its user-friendly interface, competitive odds, and excellent customer service.
The funding round was led by Canadian investment firm Gravitas Securities Inc., with participation from other investors, including Haywood Securities Inc. and PI Financial Corp. The funds will be used to support McBookie’s growth plans, which include expanding its product offerings and increasing its marketing efforts to attract new customers.
“We are thrilled to have secured this funding for McBookie,” said Darius Eghdami, CEO of FansUnite. “This investment will allow us to accelerate our growth plans and continue to provide our customers with the best possible online betting experience.”
The funding comes at a time when the online sports betting industry is experiencing significant growth, particularly in the UK market. According to a recent report by the UK Gambling Commission, online sports betting accounted for 37% of all gambling revenue in the UK in 2020, with a total gross gambling yield of £2.3 billion.
McBookie is well-positioned to capitalize on this growth, with its strong brand reputation and loyal customer base. The platform has also been recognized for its commitment to responsible gambling, with a range of tools and resources available to help customers manage their betting activity.
“We are committed to providing our customers with a safe and responsible betting environment,” said Eghdami. “We believe that by offering a wide range of betting options and promoting responsible gambling practices, we can continue to grow our business while also ensuring the well-being of our customers.”
Overall, the funding secured by FansUnite for McBookie is a positive development for the company and the online sports betting industry as a whole. With the funds in place, McBookie can continue to expand its operations and enhance its product offerings, while also contributing to the growth of the UK market.
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