The global mobile gaming platform I3 Interactive has purchased a 51% stake in the fantasy betting platform LivePools.
I3 Interactive already owns BlitzBet, a brand endorsed by Dan Bilzerian. The new deal that includes 51% of LivePools’ shares is valued at $7.5 million and will be finalised through four tranches.
This acquisition is part of I3 Interactive’s wider strategy to conquer the Indian market. The company plans to purchase the remaining 49% of the stock, for another $7.5 million, by February 1, 2022.
LivePools is one of India’s fastest-growing fantasy sports platforms. It focuses on fantasy cricket and soccer – the two most popular sports in the country. It also offers online rummy and various other products, with plans for growing its game portfolio even more.
India’s Online Gambling Market is Estimated to Reach 118 Billion in Revenue by 2023.
The online gaming industry in India earned around 44 billion Indian rupees in the fiscal year 2018. Predictions show it almost tripling that revenue by the end of the fiscal year 2023, which makes it an up-and-coming market for this type of entertainment.
In August 2021, Dan Bilzerian launched a new BlitzPoker brand in India, which allows players to take part in various online poker tournaments and cash games. Besides the regular variants, such as Texas Hold ’em and Omaha poker, at BlitzPoker, players can also try out Boost Poker or Open Face Chinese Poker.
“India continues to be one of the fastest-growing markets when it comes to online gaming and online skill games. In the online poker realm, India has shown a lot of promise that has given me the confidence to throw in my chips, as well. We are bringing in BlitzPoker to India with a ton of features that will help us create a unique experience for the online poker players in India and make the game even more exciting,” Bilzerian said about this new investment.