London – Betable, an online wagering service that lets users
create their own bets, has raised $3 million in first round funding led by
Atomico, the venture capital firm launched by Skype and Kazaa creators Niklas
Zennstrom and Janus Friis, PaidContent reported.
London-based Betable currently
only accepts wagers in the U.K.; U.S. law currently prohibits most forms of
The service rewards creators of bets with 30% of the money that
people wager on their creations, which the company collects upfront.