Slips Secures $3.5 Million to Transform Peer-to-Peer Betting Landscape

Slips Secures $3.5 Million to Revolutionize Peer-to-Peer Betting

In an industry poised for disruption, Slips Technologies, Inc. has successfully raised $3.5 million in its Series Seed funding round. This funding, aimed at accelerating the company's growth trajectory, underscores a burgeoning demand for innovative, player-centric betting experiences. The round saw participation from influential investors, including Las Olas Capital and Sunset Bay Capital, as well as sports mogul Andrew Schwartzberg, known for his ownership stakes in the Charlotte Hornets and Leeds United Football Club.

A New Era of Betting

Slips is not just another betting platform; it is pioneering a novel approach by enabling players to compete directly with one another instead of against a traditional house. This peer-to-peer model ensures that every bet creates genuine competition and enhances transparency. As Founder and CEO Jess Richman aptly puts it, “By removing the house and letting players compete directly, we’ve created something more transparent, more social, and more aligned with how people naturally want to play.” Products like Heads Up, Pools, Tourlays, and AI-generated P2P prediction markets form the backbone of this social-first platform, making betting not just a transaction but a community-driven experience.

Momentum in a Growing Category

Slips is navigating through a significant growth phase, boasting over 500% year-over-year increase in user engagement. As players seek alternatives to traditional betting methods that often lack transparency, Slips is emerging as an early leader in the peer-to-peer betting space. The differentiator lies in the genuine player-driven experience that Slips offers. “Once players experience peer-to-peer — where your take matters and someone always wins — it’s hard to go back,” noted Richman, emphasizing the engaging nature of their platform.

Bridging Digital and Real-World Experiences

One of the most exciting developments for Slips is its integration of real-world experiences with peer-to-peer betting. This feature allows users to engage in bets not just digitally but also physically at places such as bars, stadiums, and recreational sports facilities. Participants can connect with others on-site, track their wins, and cash out directly within the platform. Richman highlights the magic of these live experiences, stating, “Peer-to-peer is even more powerful in real life. We’re turning live moments into shared competition — on site and on platform.”

The B2B channel presents venues and clubs with unique options to harness peer-to-peer betting as a value-added engagement tool for their members, ensuring that everyone involved benefits from the competition.

Scaling Up: Technology and Team Enhancements

The proceeds from the funding round will primarily target scaling Slips' technology infrastructure, broadening their team across key areas like product development and engineering, as well as bolstering user acquisition efforts nationwide. Recently, Slips introduced ACH payouts, providing much-needed liquidity and convenience to users. This introduction has seen a remarkable threefold increase in premium memberships just within the first month of launch — a testament to the strong demand for efficient financial operations in peer-to-peer betting.

Simultaneously, efforts to expand financial solutions will include crypto payment options, stablecoin withdrawals, and strategies for international growth. By focusing on these integrations, Slips aims to enhance user control and speed, making betting more accessible than ever.

Looking to the Future

As Gurminder Singh, CTO and Co-Founder, puts it, “This is still early.” The funding will enable Slips to take larger strides in developing necessary infrastructure, paving the way for enhanced features that unlock scale and cater to an ever-growing user base. With an increasingly engaged community and a platform that champions fair play and social interaction, Slips represents a remarkable evolution in the betting landscape.

Slips is a next-generation platform setting the stage for future betting where players come first. With ongoing innovations and strategic expansions, Slips is destined to change how people engage in betting, both online and in the real world. For more information, you can explore their offerings at slips.com.