ALBANY, N.Y., Oct. 8, 2012 /PRNewswire-iReach/ -- The company launched the social sports gaming website in early spring, five months ahead of schedule, to ensure that they would be the first to bring their patent-pending gaming concept to market. Since launching, Betbomb.com has seen tremendous growth and has developed a loyal user community. The founders are now seeking second round funding to help expand operations in effort to remain competitive and relevant in the growing online gaming industry.
Chief Executive Officer, Patrick Gray, said "We recognize that we are competing in a very hot market. Online gaming has been a major topic in the media over the past year and many companies are preparing to enter the space as states relax laws associated with online gaming. Currently, we are able to compete because we offer a free gaming alternative to online sports bettors and there are very few competitors operating in the free online sports gaming space. In order for us to continue to compete, we will need to expand upon our patent-pending gaming concept and expand our reach to more bettors. To do this, we need to raise more funds to expand our technology, and operations teams."
Betbomb.com offers free, non-gambling tournaments in which players can compete by picking sporting outcomes and can win prizes. The tournaments are based on a patent pending, strategy based, poker style betting concept in which players compete on the basis of professional and collegiate sports results. Prizes are awarded to the winner, first, and second runner up of each tournament.
Since the website is free to play and users do not have to pay to win prizes like traditional sports betting sites, it is legal in the US. Five1Eight Internet Media LLC takes a cautious approach to the legal aspects of online gaming and makes remaining compliant with all applicable laws and regulations its highest priority.
Media Contact: Patrick Gray Five1Eight Internet Media, LLC, 9172502403, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Five1Eight Internet Media LLC