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Dallas Mavericks owner and “Shark Tank” star Mark Cuban announced he has invested in Seattle-based eSports online gambling site UNIKRN, injecting a cool $7 million into the firm. The company’s total secured funding is now at $10 million.
UNIKRN is the first well-capitalized company to focus exclusively on competitive video gaming wagering. A handful of established bookmakers including Pinnacle Sports, William Hill and Bet365 currently offer eSports betting along with other wagering products. UNIKRN does look to expand on its current offerings.
Though based in the US, UNIKRN does not currently service Americans. Instead, they have opted to join forces with Australia’s Tabcorp to provide eSports betting to those living in that nation as well as the UK. Other markets are being considered, including the US.
“I did an interview with CNBC a couple of months ago and within two minutes of the interview, Mark Cuban called me,” says Rahul Sood, co-founder of Unikrn and creator of the gaming PC company Voodoo PC. “We exchanged a couple of emails back and forth and within two days he said ‘I’m in’.”
Cuban issued this statement in regard to the deal: “The rapid growth of eSports has created an entire new category of competition and I am proud to partner with Rahul Sood and his team to help bring eSports to an even greater audience. I’m excited to be involved with a new sport just as it’s poised for huge growth.”
Cuban says he has been intrigued by the eSports sector for some time. UNIKRN had previously secured investments from the daughter of media mogul Rupert Murdoch as well as Shari Redstone (daughter of Sumner Redstone).
Players can bet on tournaments for games like League of Legends, DOTA 2, and Counter Strike: Global Offensive.
The eSports fan base is expected to top that of the NFL by the end of 2016. Last year, 27 million people tuned in to watch the finals of the League of Legends World Championship.
Sood has hinted that UNIKRN could be available to US customers by next month, presumably August.
“If you are in the U.S., UNIKRN Arena will be made available in the next month and it’s going to be awesome,” he says.
Sood says he would like to take the company beyond betting, an indication that UNIKRN may delve into the Fantasy eSports sector as a means of entering the US market. This would place the company in direct competition with the likes of Vulcan and AlphaDraft, the later of which is backed by former NBA Commissioner and Mark Cuban nemesis David Stern.
- Aaron Goldstein, Gambling911.com
