The Australian online social sports betting platform Favourit has successfully completed beta testing and goes to full operational status this week. The app gets around Aussie laws by not processing real-money transactions, but allows users to connect to their existing accounts at major online sports betting groups.
The company offers online punters an internet hub where they can place bets on multiple sports including American football, soccer, tennis, and boxing allowing users to select from any of the fixtures taking place later that day and bet on a number of different outcomes.
The platform uses a virtual currency called “Favourit Caps”, which is increased each day. There is also support for a number of third-party licensed betting operators, including Paddy Power in the UK, its Australian subsidiary Sportsbet, and Tabcorp subsidiary Luxbet.
The enterprise founder and CEO Toby Simmons (26) is currently seeking additional funding, with almost A$4 million already raised. He has also revealed that the company plans to expand internationally.
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