Wednesday, October 19, 2011

Crowdpark Bets on Forecasting Algorithm for Facebook Game, Scores $6M Round for Mobile Development

Berlin-based social betting game developer Crowdpark has raised a $6 million second round of investment led by Europe’s Target Partners with participation from previous investor Earlybird Venture Capital. This brings the developer’s total funding to $8 million.

Crowdpark made some ink earlier this year with Bet Tycoon (formerly titled “Crowdpark – Betting Game”), consistently landing in our top 20 emerging Facebook games category toward the beginning of the summer. The game allows players to place bets of virtual currency on a range of topics in popular culture (e.g. the outcome of sports games) or on customized private topics (e.g. “Is Jane from accounting dating John from the mail room?”). Players pay in Facebook Credits to receive a pool of virtual currency, which is then placed on bets. Players receive virtual currency whenever they win a bet; but per Facebook policy and many online gambling laws in various countries, this cannot be converted back into Facebook Credits.

As the actual process of the game isn’t very visual, Crowdpark included this infographic with the press release announcing the funding to illustrate the process:

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