Crowdfunding is a unique new way for start-up business owners to raise the capital required to open up shop. Filmmakers, musicians and artists are just a few of the types of individuals that benefit from crowdfunding – and now, online gambling professionals can cash in as well. Developed by Chris North, GamCrowd is a new Crowdfunding service for professionals in the gambling market.
The service will pair investors with start-up companies, allowing them to forge successful business practices that will allow them bring their products to life. North thought up the idea after receiving funding for the Fox Poker Club in London. Rather than seeking financial assistance from banks, he sought out assistance from his contacts in the poker industry.
Several professional poker players, including Phil Laak, provided financial support. Gaming industry professionals from 888 Holdings and Bluff Magazine offered additional assistance in marketing and business planning. At the time, North did not know that the name for this type of investment was ‘crowdfunding’, but it inspired him to help other gaming business owners in the same way.
"We intend to introduce investors with contacts and expertise to start-ups in the gambling industry across the world,” says Mr North. “As I have already learned, this will add tremendous value to the start-ups that are successful in being funded”. This is quite a unique undertaking, and it will be interesting to see whether or not GamCrowd becomes prosperous.
Crowdfunding worked well for the Fox Poker Club, which opened in 2010 and continues to thrive – and, we hope that other gaming start-ups will see similar success with the help of this service. Interested parties can pre-register at the end of January. Industry professionals, start-up business owners and industry professionals can sign up to the service, and the GamCrowd team will being the match-making process.
For more information, visit: GamCrowd.com.
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