Cashbet Alderney Limited

CashBet Alderney Limited: Innovators in Blockchain-Powered iGaming Solutions

CashBet Alderney Limited is a subsidiary of Mobile Gaming Technologies, Inc., operating within the online gambling industry. The company specializes in providing a blockchain-powered iGaming platform designed to enhance the online gambling experience for players. By integrating its platform, CashBet enables users to participate in legal online gambling transactions using exclusive cryptocurrency, thereby improving the playing experience across various game genres.

Company Overview

CashBet Alderney Limited operates under the jurisdiction of Alderney, a Channel Island known for its regulatory framework accommodating online gambling enterprises. The company focuses on offering a comprehensive iGaming platform that caters to both operators and players, aiming to elevate the online gambling experience through innovative technology and secure transactions.

Products and Services

CashBet’s primary offering is its blockchain-powered iGaming platform, which provides several key features:

• Real-Money Gaming Integration: The platform allows developers to build real-money gambling into their social and mobile games, enabling a seamless transition from free-to-play to real-money gaming experiences.
  CB Insights
• Cryptocurrency Transactions: Utilizing blockchain technology, CashBet facilitates legal online gambling transactions using exclusive cryptocurrency, enhancing security and transparency for users.
• Comprehensive Back Office Tools: The platform includes a robust suite of back-office and marketing tools designed to maximize revenue for developers and operators, streamlining operations and enhancing user engagement.
  Pocket Gamer

Strategic Partnerships and Collaborations

CashBet has engaged in various partnerships to expand its platform’s reach and capabilities:

• Gamzio Mobile, Inc.: In April 2014, CashBet Alderney Limited entered into a Real Money Gaming Services Agreement with Gamzio Mobile, Inc., a Nevada corporation. This collaboration aimed to integrate CashBet’s gaming platform with Gamzio’s offerings, enhancing the real-money gaming experience for users.
  Justia Contracts

Legal Proceedings

CashBet Alderney Limited has been involved in legal proceedings concerning its operations:

• Strong v. CashBet Alderney Limited et al.: In April 2023, a petition was filed in the U.S. District Court for the Northern District of California to confirm a foreign arbitration award against CashBet Alderney Limited and associated entities. The case involved allegations related to a fraudulent initial coin offering (ICO).
  OffshoreAlert

Financial Performance

As a subsidiary of Mobile Gaming Technologies, Inc., specific financial details of CashBet Alderney Limited are not publicly disclosed. However, the parent company has engaged in funding activities to support its operations:

• Funding Rounds: CashBet has raised a total of $39.7 million over two funding rounds. The latest funding round was an unattributed venture capital investment of $38 million on June 25, 2018, with participation from investors such as ASYNC, Nirvana Capital, and Node Capital.

Industry Impact and Legacy

CashBet Alderney Limited has contributed to the online gambling industry by providing a platform that integrates blockchain technology with iGaming services. This approach has offered operators and developers innovative solutions for real-money gaming, cryptocurrency transactions, and comprehensive back-office support. Despite facing legal challenges, the company’s efforts have played a role in advancing the integration of blockchain technology within the online gambling sector.

Conclusion

CashBet Alderney Limited operates as a subsidiary of Mobile Gaming Technologies, Inc., specializing in blockchain-powered iGaming solutions. Through its platform, the company has aimed to enhance the online gambling experience by enabling real-money gaming integration and cryptocurrency transactions. While facing legal proceedings related to its operations, CashBet Alderney Limited’s contributions have influenced the adoption of blockchain technology in the online gambling industry.