Betable has a lot going against it. The company, which makes tools that let people wager real money in games, has scrapped its business plan once already. Now it’s trying to change a complacent gambling industry that has relied on the same games like poker and blackjack for generations. And the company is facing a patchwork of opaque, inconsistent and unfriendly laws.
But investors are betting its technology–which plugs into mobile and browser-based games to allow them to accept real-money wagers–could hold the keys to another big revenue stream for app developers. App developers are thirsting for new ways to make money from their apps as the flood of free apps makes it harder to charge for them.