BragBet, the new Dublin-based start-up that has created a social betting platform for groups of pals to place virtual bets, is to partner with bookmaker Boylesports online so its users can place real-money sports bets.
BragBet, which was co-founded in 2010 when three of its co-founders met at StartUp Weekend in Dublin, had created a competition during Euro 2012 for groups of friends to get together, form teams and place virtual bets. At the time the start-up’s plan was to eventually allow users to place real bets on sporting events via the site.
According to CEO Phil Riordan, the partnership with Boylesports will allow players on the BragBet platform to bet with real money, with the aim of making online gambling more social.
"Following the success of our Euro 2012 tournament we’re delighted to be working with Boylesports to allow real-money bets," he said. "Together, we will allow anyone to create a team, throw money in the team kitty and then enjoy some banter and a few bets while following their favourite sports online and on mobile."
Keith O’Loughlin, CEO of Boylesports Online, said the bookmaker saw the potential in BragBet’s vision, describing social gaming and social gambling as "huge" growth areas.
"Working together with BragBet we’re introducing a new kind of fun, interactive betting that will particularly appeal to the younger, digital native market who have grown up with social networking and expect a more entertaining experience," he said.
BragBet currently supports sports including football, rugby, tennis, cricket, darts, basketball, Gaelic football, hurling, baseball and the Australian Football League. All odds offered and bets placed on BragBet will be handled by Boylesports.