Games - Monday, February 26, 2007
Betzip Raises VC Funding For US Legal Poker Wagering
San Francisco-based BidZip says it just completed an additional funding round from both VCs as well as many prominent angel investors
BetZip.com says it has a patented method of enhancing online multi-user games by allowing people to compete legally for cash prizes. The offering stays legal by we make it impossible for players to lose money - winners can get prizes. Betzip charges a $20 p/month subscription fee.
They have started with the online poker market where they say they are now the only legal, play-for-money poker site in the US. But BetZip plans to take its model across other multi-player games and activities.
The company's CEO is Jason Kellerman, who was CEO of LookSmart until January 2004. CTO Kevin Flood was GM at Harrah's and VP Engineering at Wagerworks. Angel investors include Gil Penchina, CEO of Wikia.
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