The platform announced on Tuesday that it had secured an additional $1 million USD in funding, building on the previous $3 million USD funding it secured last year. NBA All-Star Bradley Beal and other big-name investors have poured funding into the buzzy skill-based wagering project.
“Investors are backing us because they not only believe in our technology and vision but also our ability to execute,” PLLAY CEO Shawn Gunn said in a press release. According to the company, the average wager size per match has now increased to over $20 USD and the number of new matches played have increased “tenfold” through 2021.
The mobile-first application allows users 18 years and older to place a bet on a game, with the winner taking 100 percent of the prize. The company says it has mitigated concerns like cheating, winner verification and prize payout through the use of real-time monitoring of live streams on its AI-driven platform.
“PLLAY’s platform acts as a virtual referee, certifying wins and losses and creating a safe environment for gamers to wager with confidence, while removing any concerns they won’t get paid,” the company said.