Betable is now eligible for a transactional waiver after applying for the 92a(1) Internet licensure from the Division of Gaming Enforcement in New Jersey. They will be authorized to engage in Internet gaming related business transactions once they reach an agreement with a casino licensee or platform provider and petition the Director of the Division for a Transactional Waiver. They were one of 8 gaming companies including Paddy Power, Genesis Gaming, Scientific Games International, Pala Interactive that were given the eligibility for the transactional waiver, the full list can be found here.
Betable announced earlier this week that they raised $18.5 million dollars in a round of funding led by Venture51. Betable provides a streamlined way for social gaming companies to provide a real money gaming element. Betable handles regulatory compliance along with fraud detection and payments.