Midnite raises $16 million to create a licensed Esports betting platform for those markets who allows it

For those who haven’t heard about “Midnite” and what they do let me start by giving their brief introduction as they are a dedicated Esports and Sports betting platform where you can watch games live and bet at the same time to win humungous cash rewards.

For London based Midnite, the round was led by The Raine Group who are a global merchant bank exclusively focuses on domains like- Telecommunications, media and most importantly technology.

The 16 million dollar funding raised by Midnite will be used in growth initiatives of their platforms and subsequently will amplify their products.

Midnite launched Sportsbook and Cash Mode in year 2020 and 2021 to provide an ample opportunity for budding gamers to magnify their skills and earn whooping amount on real time basis by placing their bet on different Esports.

They will be launching their upcoming product “Arcade” in year 2022 which will inject the feeling of hypercausal casino to boost their mini-gaming experience in a different dimension.

“We have a super simple UX, we’re constantly shipping new features, upgrades and content to improve the product and we have the mentality that we’re never finished and that’s what the customer deserves,” said Nicholas Wright of Midnite, in an interview with GamesBeat.

“Midnite employs a product-first growth mentality, and we have been impressed by its founders and fully believe in their vision for the company,” said Salter, in a statement. “Their talented and dedicated team is passionate about changing the way fans experience the games they love, and we look forward to helping them create the next generation of sports betting.”

Taking more about Midnite and its inception was laid out by Wright and Daniel Qu who previously created Dribble which is a daily sports fantasy platform. They both are Americans but they migrated to UK seven years ago as they wanted to focus on amalgamation of licensing gambling and daily fantasy sports.

We really just discovered this big hole in the big betting operators that we know today,” Wright said. “We didn’t think they were thinking far enough ahead on who the fans of tomorrow are. They weren’t catering to them.”

“If you look at gamers, they’re taking over the world,” Wright said. “They’re more sophisticated consumers. They are digital first. These big betting companies are just marketing brands from yesterday, built for for your dad and your grandpa. They’re not mobile first or familiar with the Discord or Twitch generation.”

Midnite as an organisation have approval of licensing from British Gambling Commission but they are still awaiting for the approval from Malta Gaming Authority.