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Pioneering VC Fund Targeting Legal U.S. Sports Betting Opportunity

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Gambling industry veterans bring funding, expertise to wave of new sports betting startups through newly formed Sports Gaming Investment Fund (SGIF)

The market for sports betting in the U.S. is expanding at an unprecedented pace following a 2018 Supreme Court decision that allowed all states to legalize sportsbooks. A wave of innovative startups is emerging with products, services, and solutions designed to tap the estimated $17 billion dollar opportunity that legal U.S. sports betting represents.

Discovering, funding, and guiding the development of the best of those startups is the goal of the Sports Gaming Investment Fund (SGIF), a pioneering VC fund focused primarily on the U.S. legal sports betting industry.

Management for this industry-first fund features a host of gambling industry, investment, and venture expertise:

  • Chris Grove, Managing Partner: Grove is a partner at Eilers & Krejcik Gaming, heading the firm’s sports betting practice.
  • David Sargeant, Managing Partner: Sargeant is the founder and CEO of iGaming Ideas, a leading international incubator for gambling startups, and sports betting consultant.
  • Blaine Graboyes, Advisory Partner: Graboyes is the co-founder and CEO of the groundbreaking gambling machine developer GameCo.
  • Seth Schorr, Advisory Partner: Schorr is the Chairman of Fifth Street Gaming and co-founder of the streaming media startup Konek TV.
  • SeventySix Capital, Advisory Partner: SeventySix brings decades of fund management to the SGIF team and will assist with deal structure, vetting, and back office.

“There’s no doubt that the keys to fully unlocking the potential of the U.S. sports betting market are in the hands of startups,” said Grove, a nationally recognized expert on the legal sportsbook industry. “We’re just now starting to see the ideas that will ultimately define sports betting in the United States.”

“The pace of development in the U.S. market only increases the opportunity for startups,” added Sargeant, who has evaluated hundreds of early-stage companies during his career. “Large casinos and software providers won’t have the bandwidth or resources to truly innovate. They’re too busy simply getting up and running.”

Investors in SGIF have been attracted to the combination of timing, team, and opportunity.

“My decision to invest in SGIF was driven by my belief in the team’s superior deal flow, their proven ability to evaluate that flow, and the resources they can deploy to support portfolio companies,” said Jeremy Levine, an investor in SGIF. Levine is the founder of multiple companies, including DRAFT, which was acquired by PaddyPower Betfair in 2017.

For startups, SGIF will play an invaluable role in guiding them through the regulated gambling  landscape.

“Gambling is one of the toughest industries for startups from a compliance perspective,” noted Graboyes, who has steered GameCo from concept to a heavily licensed gambling supplier. “Having the right plan as early as possible in the process can easily be the difference between success and failure for a startup targeting the sports betting industry.”

SGIF will add additional value to portfolio companies by helping to ensure optimal product fit and market access.

“Startups don’t always appreciate what problems larger gambling companies are actually attempting to solve and what opportunities do and don’t resonate with those companies,” said Schorr, who has held management roles at several Las Vegas casinos and currently operates the Downtown Grand in Las Vegas.  “We will help our startups hone their product, model, and approach to fit with the real demand within the gambling industry, and then match a startup’s product to that demand.”

For more information, visit www.SGIF.vc.

About SGIF
Sports Gaming Investment Fund (SGIF) is a VC fund focused on startups that support the emerging U.S. market for legal sports betting.

 

Source: SGIF


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Pioneering VC Fund Targeting Legal U.S. Sports Betting Opportunity

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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Treats of Terror haunts the reels with cascading suspense

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Play’n GO gets spooky at the cinema with Treats of Terror, a 5×5 grid slot set in a shadowy cinema where ghostly confections and cascading symbols bring unexpected rewards with every drop.

Lights flicker and curtains twitch as Treats of Terror fills the screen with glowing sweets and spectral surprises. Set within a haunted theatre, this scatter-pays slot challenges players to land six or more matching symbols anywhere on the grid. Winning icons vanish in a cascade, replaced by fresh drops – and that’s where the tension truly builds.

Where this slot really earns its title is with its Collector mechanic. At any moment, Cash or Prize Symbols might appear – with values of up to x1000 – but it’s the eerie Collector who steals the show, harvesting all visible values for instant wins. With multiple Collectors on screen, each one gathers all symbol values independently, stacking up the scares and the rewards.

In Free Spins, players move through a three-act feature. Stage 1 kicks off with a x2 multiplier, increasing to x3 and then x5 by collecting Scatters along the way – all while the collection mechanic stays active. The theatre’s shadows deepen, the multipliers rise, and the tension never drops.

While Treats of Terror stands alone in its haunted setting, it builds on the cascading slot legacy seen in titles like Sweet Alchemy 2 and Honey Rush, marrying immersive visuals with powerful symbol synergy. Fans of grid slots and atmospheric design will find themselves right at home in this haunted house of film.

George Olekszy, Head of Game Retention, said: “Treats of Terror is all about sustained suspense. The cascading reels, the escalating Free Spins, and the Collector mechanic work together to deliver a layered, cinematic experience for players.”

With an eye-catching design and features that tie tightly to its theme, Treats of Terror offers a compelling blend of tension and reward.

The post Treats of Terror haunts the reels with cascading suspense appeared first on European Gaming Industry News.

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Spinomenal releases Outlaw’s Redemption

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Leading iGaming content provider Spinomenal has released its new Western-themed action-adventure game, Outlaw’s Redemption.

The 5×3 game unfolds in a dusty frontier town under a twilight sky that is lit by lanterns hanging along a row of wooden cabins. A soft guitar riff is complemented by maracas, building tension on the reels populated with Golden Horseshoes, Whiskey Barrels, Longhorn Skulls, Cowboy Boots, and Revolvers.

There are two Wilds in play, a countdown revolver cartridge and a menacing outlaw, which count for any symbols except Free Spins and Bonus symbols. If five of either appear on a winning line then players will see their win multiplied by 1,000. Scattered Free Spins symbols are represented by a glamorous saloon girl and three or more will launch Free Games. In the base game only, Free Spins symbols will appear only on reels 1, 3 and 5. The Wild symbol will expand on one of the reels and remain until the end of the spins. Before the Free Spins begin, players choose between five options to decide where the Stacked Wild is located – the amount of Free Spins will change accordingly.

After the reels have come to rest, if there are any countdown Wild symbols on screen, the game will enter Respins mode. This means the Countdown Wild will stay for the next re-spin and its count will decrease by 1. When there are no Countdown Wilds with a count greater than or equal to 1, the Respin mode finishes. There are also Mystery symbols that are represented by saloon doors hiding one random symbol aside from Bonus, Wild or Free Spins.

The Bonus game is activated with three or more Wheel of Fortune Scattered Bonus symbols. Once in the Bonus game, players face a three level Wheel of Fortune, and have three attempts at spinning the wheel to win prizes including multipliers, extra spins or level up. In addition, the level up awards an extra spin and once these are gone, the sum of wins collected will be awarded.

Spinomenal CO-CEO, Omer Henya commented: “Outlaw’s Redemption is a gritty Western adventure that is packed with entertaining features like Countdown Wilds and the Wheel of Fortune Bonus. Players will love this ride on the reels, hoping for a shot at glory.”

The post Spinomenal releases Outlaw’s Redemption appeared first on European Gaming Industry News.

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Belatra releases arcade adventure: Cyber Gypsies

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Belatra, a leading developer of innovative online slots, has released its retro reels ride, Cyber Gypsies. This latest hit from Belatra carries players into a bright world where digital technology blends with the spirit of console gaming.

Taking inspiration from the look and feel of retro video games, Cyber Gypsies offers a classic 5-reel, 20-line layout packed with modern twists. A joyfully electro soundtrack puts the finishing touches on a game bursting with dynamic features, accumulating multipliers, and slick gameplay. Each spin holds the potential for thrilling wins. Wild symbols may appear on reels 2, 3, and 4 and substitute for all standard symbols to form winning combinations. Multipliers hold the true power with their ability to boost returns. During the base game, and normal Free Games, Wilds can carry x2 or x3 multipliers.

Hot Mode means these values increase to x3, x5, or even x8. When multiple Wilds land on a payline, their multipliers are added together – so a combination of x2 and x3 becomes x5 – leading to boosted wins. Hack Mode may activate in any base game spin to unleash a burst of Wild symbols onto the reels in real time that can create or enhance winning combinations. Players who can’t wait to amp up the action can also access Hack Mode directly via the Bonus Buy feature.

Free Games will be triggered with three Scatters landing on reels 1, 3, and 5. Players will automatically earn five Free Games, but before beginning, they must pick one of the eccentric heroes, each offering a unique volatility and bonus power. The next step is choosing the number of Free Games to play – ranging from 7 to 20. Once active, every Wild symbol uncovered becomes sticky and remains in place for the rest of the bonus round – significantly raising the chances of hitting frequent and big wins.

Sergey Chernyavski, Belatra Games’ CCO, said: “Cyber Gypsies is more than just a slot—it’s a raucous, retro reels adventure. It’s a celebration of the timeless thrill of classic games, reimagined with modern mechanics. With Sticky Wilds, flexible Free Games, and multiple ways to boost wins, the game offers a perfectly-balanced mix of nostalgia and innovation.”

The post Belatra releases arcade adventure: Cyber Gypsies appeared first on European Gaming Industry News.

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