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Bettingmetrics closes its second investment round led by RLC Ventures London

Published

7 years ago

September 18, 2018

Bettingmetrics closes second round of investment Reading Time: 4 minutes

Bettingmetrics (Panorama Partners Ltd), a sports betting platform that allows bet-tracking and analysis, have announced that they have successfully completed their second investment round led by RLC Ventures and its Founder, Reece Chowdhry, who has been serving the company as a Board Advisor.

Bettingmetrics is a platform where betting activities are collated into a single place and where punters and bookmakers are connected like never before. The online platform allows punters to read news, compare odds, place bets, as well as track and analyse their betting performance. After winning the London Accelerator programme, they launched their first prototype in February 2017. Then they raised £25,000 for their first funding round in November 2018 to move the product quickly ahead – since their funding round, they have managed to gather a strong team of developers and marketers to enable them to adopt new technologies. Their focus remains on building a unique platform that combines all betting activities in one place, from reading tips and news, comparing stats and odds to placing the bet and analysing the historical data. They have been able to build a more complete version of the service based on customer feedback and the company’s mission to create a data-driven social betting community.

According to the Bettingmetrics founders, the second-round funding will be used for hiring more developers and marketing professionals. They will stick to their ultimate goal of bringing all betting activities under one roof. The team will develop the platform further to add an odds comparison feature with an exceptionally strong focus on efficient and transparent odds comparison that delivers the best-in-the-industry in-play odds comparison experience. Furthermore, they will enhance their bet tracker and analytics to reach a stage where users will be able to receive betting suggestions on how to improve their betting performance based entirely on their own betting data which is unique. As of now, there are no other providers of similar service. Moreover, as a customer-centric business they will facilitate the use of the product by continuously collecting users’ feedback and by improving UX and UI. Bettingmetrics are currently experiencing approximately 10% monthly growth on the user data base.

Founders of Bettingmetrics, Martin Grozev and Slavomir Semov, have been working on the company since summer 2016 and they are positive about the progress that has been made as well as the future ahead.

“I am exceptionally proud with Bettingmetrics bet tracker and advanced analytics. We are certainly the best sports betting portfolio management software available on the market as of today. Clearly, we are super ambitious as a team and we want to help punters make more informed and data-driven betting decisions. In the very near future, we are taking Bettingmetrics to a whole new level where punters will be able to benefit from an AI algorithm that will analyse their results, and which will provide them with a clear way of how to improve their betting performance. As a person who bets I have always dreamt for that feature. The feedback we have received form Bettingmetrics users have confirmed the huge market need for that specific feature.” – Martin Grozev, co-founder of Bettingmetrics.

“We realise every now and then we want to place a tenner on their favourite team playing on Saturday. Bettingmetrics is a platform that combines all betting activities in one place, as well as an entertainment hub where punters can enjoy reading betting news and tips among the variety educational articles that are available and can be updated on our platform on a regular basis. We have recently launched our first version, and now we are not only the bets sport betting portfolio management software, but we are also a hub where punters can enjoy our newly developed odds comparison. Bettingmetrics odds comparison is really vibrant and it has a strong focus on the in-play experience as well as on the odds updates. As you can imagine I am regular bettor and I really get frustrated when the odds comparison sites quote one odd and when I go to the bookie website it is totally different. Bettingmetrics’ odds comparison resolves that problem, by adopting the news and the most reliable technologies which I am sure people will enjoy.” – Slavomir Semov

Funding

Bettingmetrics was funded by RLC Ventures since their first round. The great traction the product had been able to enjoy initially captured a strong interest from RLC Ventures to invest in the company. RLC Ventures is a seed/early-stage venture capital firm that focuses on backing millennial and diverse founders, in industries such as Fintech, Proptech, Enterprise, Social Impact Tech and AI. Martin describes that “the fundraising process is always an exciting, time and energy-consuming as well as sometimes stressing activity. But I consider the fundraising process as a unique opportunity to get the business critically evaluated by particularly successful people. I enjoy being asked smart and provocative questions.” The last fundraising process itself took between two to three months.

Martin also added, “RLC Ventures helped us in numerous ways. We were very lucky to have Reece from RLC Ventures on our side as he helped us a great deal with leads and introduced us to a lot of investors – some of whom did become investors in Bettingmetrics. Reece is really young and is a proactive individual. He helped Bettingmetrics also by introducing us to the right legal team and, of course, by helping us with everything else we asked him. What impressed me the most was his energy and enthusiasm of getting the job done and that he was available 24/7. That really is the way we work in Bettingmetrics as well so that resonated very well with our team culture and has resulted correspondingly in a successful fundraising.”

Reece Chowhry, CEO and Founder of RLC Ventures, said, “Bettingmetrics has built a world-class analytics and odds-checking platform. The team have demonstrated brilliant traction, growing their user base by 10% per month and achieving solid growth in recurring revenue. We are excited to back the excellent team in this next stage of growth and product development.”

About Bettingmetrics:

Bettingmetrics is an online sports betting platform for bet tracking and analysis. Punters can record their bets, analyse their performance and upload their Betfair and exchange history directly to Bettingmetrics.

Bettingmetrics connects with fans mainly via Twitter and Instagram.

RLC Ventures

RLC Ventures is an award-winning venture capital firm with a thematic approach in high-growth potential, seed and early-stage companies in 5 verticals: Proptech, Fintech, Enterprise, AI and Social Impact Tech run by millennial founders – a unique investment thesis.

RLC Ventures connects with supporters mainly via LinkedIn and Twitter.

Source: Latest News on European Gaming Media Network

Related Topics:gambling industry in Europe

George Miller

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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“Rock the Month”: Spinmatic’s monthly promos to power operator growth

Published

46 minutes ago

July 7, 2025

George Miller

Reading Time: < 1 minute

As summer reaches its peak, so do the opportunities for operators partnering with Spinmatic. The premium Slot developer has launched two new exclusive offers as part of its ongoing Rock the Month campaign – a high-impact promotional series featuring targeted incentives, exclusive discounts and seasonal themes designed to support long-term operator growth.

After a strong debut in July with Fruit Fiesta and Summer Splash, Rock the Month has quickly become a key initiative for many partners, offering unique commercial advantages each month, exclusively to Spinmatic clients.

For August, the provider turns up the heat with two new offers: Summer Crash and Freespin Hype. Both are available to apply for until July 25 and designed to help operators during the summer’s most critical weeks.

This August’s promotions offer Spinmatic’s partners the chance to unlock up to 60% off in Revenue Share, depending on the offer selected. Full activation details – including game selection and placement requirements – are reserved exclusively for Spinmatic’s operator network.

“Our goal with Rock the Month is to bring consistent value to our partners,” said Norbert Mathies, Managing Director at Spinmatic. “We know operators are constantly under pressure to keep players engaged, so with our monthly promotions, we aim to offer something that’s genuinely useful. With two offers available each month, operators can choose the one that best fits their market. At the same time, we’re helping them get more out of their campaigns and explore new games with reduced risk.”

Spinmatic encourages operators and industry stakeholders to stay tuned, as new Rock the Month promotions will continue to be rolled out monthly. For those looking for innovative ways to increase player loyalty and revenue, now is the perfect time to get involved.

The post “Rock the Month”: Spinmatic’s monthly promos to power operator growth appeared first on European Gaming Industry News.

Latest News

BHA Initiates Campaign Against Tax Hike

Published

2 hours ago

July 7, 2025

George Miller

Reading Time: 2 minutes

The British Horseracing Authority (BHA) has urged the sport to collectively lobby the Government to back British racing and axe the Treasury’s proposal to hike tax on horserace betting by bringing existing online betting duties into one single rate.

The call comes ahead of the launch of “Axe the Racing Tax”, a BHA-led public campaign against the proposal which will be rolled out over the summer.

A tax hike for bookmakers in the Autumn Budget would be the third leg of a triple whammy of financial threats caused by Government policies which jeopardise the future of the sport in Britain.

Economic analysis commissioned by the BHA shows that aligning the current 15% tax rate paid by bookmakers on racing with that of online games of chance – currently taxed at 21% – by harmonising all remote gambling duties, could hit racing’s finances to the tune of £66m in lost income via the Levy, media rights and sponsorship. This is because operators are likely to seek to mitigate significant tax rises through cutting bonuses, reducing advertising and marketing budgets and increasing prices.

Should the Treasury seek to raise the proposed single duty rate further to help balance the books, the impact on racing’s finances would be devastating, with a projected £97m loss at a tax rate of 25%, a £126m loss at 30% and a £160m loss at 40%.

Brant Dunshea, Acting Chief Executive of the British Horseracing Authority, said: “It is vital that everyone working in racing, the media and bettors fully support and promote this campaign.

“The Government’s consultation on harmonising online betting duties, if followed through, poses one of the gravest risks to racing the sport has ever seen.

“It will punch a huge hole in racing’s finances, risk thousands of jobs across Britain and threaten the future of the country’s second most-popular sport and a cherished national institution.

“From now until the Budget we will be hammering home a very simple message to MPs, Peers and the Government on behalf of millions of racing fans. It’s time for the Government to back British racing and axe the racing tax.”

The post BHA Initiates Campaign Against Tax Hike appeared first on European Gaming Industry News.

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Change of Chairmanship in the GGL Board of Directors as of 1 July 2025

Published

2 hours ago

July 7, 2025

George Miller

Reading Time: 2 minutes

On the occasion of the four-year anniversary of the Joint Gambling Authority of the Federal States (GGL) on 1 July 2025, Sandro Kirchner, State Secretary in the Bavarian State Ministry of the Interior, for Sport and Integration, has taken over the chairmanship of the GGL Administrative Board, succeeding Reiner Moser, Head of Office in the Ministry of the Interior, for Digitalisation and Municipalities for Baden-Württemberg.

During Reiner Moser’s term as Chairman of the Board of Directors, the GGL further established itself as a reliable institution for the supervision and monitoring of the online gambling market.

“The online gambling market has developed rapidly in recent years. The GGL has met the resulting challenges with great commitment and can already demonstrate remarkable results both in combating illegal gambling and in regulating and supervising the legal market. The exchange between the states and the GGL is always trusting and results-oriented. I would like to sincerely thank the Board of Directors and all GGL employees for this constructive cooperation over the past year,” said Head of Department Moser.

State Secretary Kirchner takes over the chairmanship at a time when the GGL is pursuing ambitious goals, including stronger international networking, particularly to further curb the illegal gambling market.

“The consistent prosecution of illegal offerings and player protection are my highest priorities. The work of the GGL must continue to be significantly geared towards ensuring that the business model of illegal gambling is not profitable in Germany,” said Sandro Kirchner.

With regard to his role as Chairman of the Board of Directors, he added: “I look forward to continuing the successful work of everyone involved over the past four years. We will certainly continue to face many challenges. However, I believe the GGL is well positioned to achieve this.”

The Board of Directors is the supervisory and steering body of the GGL. It consists of the heads of departments or state secretaries of the ministries responsible for gaming supervision in the 16 member states. The chair of the Board of Directors rotates annually on July 1st in alphabetical order of the member states.

The post Change of Chairmanship in the GGL Board of Directors as of 1 July 2025 appeared first on European Gaming Industry News.