India is one of the main growth trajectories for I3 Interactive which has purchased a 51% stake in fantasy betting platform LivePools to cement its presence in the country.
BlitzBet Parent Company Secures Majority Stake in LivePools
I3 Interactive is shifting its focus on the Indian iGaming platform market with a majority stake in LivePools, a self-billed “egaming platform” which will pave the way for I3 into one of the most populous gaming markets in the world.
I3 Interactive, which owns BlitzBet, a brand endorsed by Dan Bilzerian, will secure 51% of LivePools’ shares for the sum total of $7.5 million and will finalize the deal across four separate tranches.
As per the agreement, I3 may still seek to add the rest of the stock, or 49%, for another $7.5 million. However, any additional purchase of stock must be exercised by February 1, 2022. The deal is an important additional entry for I3 in the Indian market, with LivePools focusing on fantasy cricket and soccer, two of arguably the most popular sports in the country.
Thanks to the special status of daily fantasy sports, the activity is safer to carry out from a legal standpoint, too. LivePools also has products as online rummy, and the company expects to keep adding to its gaming portfolio in India as well as globally.
Dan Bilzerian as Pivot of India’s Growth
I3 is planning to consolidate its footprint in India through BlitzBet, a brand backed by Bilzerian who stirred a bit of controversy when GGPoker picked him as the brand’s ambassador. Bilzerian, who tends to photograph himself surrounded by bikini-clad models, was criticized as sending the wrong message to potential new audiences.
Before becoming an ambassador for the brand, Bilzerian first joined the team just a week or so earlier. To celebrate his birthday GGPoker released a $100,000 freeroll poker tournament. He also joined BlitzBet in August looking to boost the brand’s standing and help with the acquisition of recreational customers.
India will play a key part in I3’s growth strategy with BlitzBet and now LivePools both primed to seek expansion in the region. BlitzBet will specifically look to launch as part of the Spartan Poker’s Quadnet Network.
Endorsing BlitzBet, Bilzerian said that India has shown a lot of promise, giving him the confidence to “throw in his chips as well,” a statement that you may want to take with a grain of salt given that Dan burned $1 million on the 40-second Conor McGregor vs Donald Cerrone fight.