Midnite is a sports betting platform based in London, established in 2015, focusing on esports betting and gradually expanding into traditional sports, online casinos, and horse racing betting.
The company's core competitive strengths are innovative technology and user-friendly experience, aiming to become a "challenger brand" in the UK market, targeting young esports enthusiasts.
Midnite excels in esports betting, covering mainstream esports events like League of Legends, CS:GO, DOTA 2, and offers over 50 niche markets (such as "First Blood" and "Map Winner"), far surpassing traditional sports betting options. Its distinctive features include:
CashMode (in testing): Allows players to bet on their own esports matches, enhancing interactivity.
Real-time data and streaming: Supports live streaming for some events, enhancing the immersive betting experience.
Next, traditional sports and casinos:
Sports betting: Covers over 20 sports including football, basketball, and tennis, though not as in-depth as veteran platforms like Bet365.
Online casino: Offers slot machines, live dealer games, and partners with events like the Snooker World Championship to increase visibility.
Midnite raised $10 million (£7.7 million) in Series B funding.
This funding round was led by Discerning Capital, Raine Group, and Play Ventures, with Venrex and Big Bets also participating. To date, Midnite's total funding has exceeded $35 million.
Board member David Williams stated:
As investors focused on the global gaming industry, we are thrilled to work with the Midnite team, who have built one of the most compelling challenger brands globally.
The company's continued growth and marketing efficiency demonstrate its unique position in the UK domestic market and its broader status as a top emerging operator globally.
Midnite's sports betting was launched in 2018 by Nick Wright and Daniel Qu, who had previously collaborated with Sky Bet to create the daily fantasy sports platform Dribble. In 2023, Midnite expanded its product portfolio to include horse racing and casinos, growing its team from 60 to 110 people over the past 12 months.
Midnite co-founder Nick Wright added:
We are honored to have the support of some of the top investors in the gaming field. This funding allows us to fully commit to our growth strategy while continuing to innovate our products.
Our product-centric philosophy has led to our success today, and we will continue to prioritize player experience. We have a product foundation and development pace that other operators in the UK market do not possess.
Our goal is to disrupt the UK betting market and become a top operator with a challenger brand platform, serving the new generation of players. With such support, we can act faster, more boldly, and continue to bring fresh and exciting experiences to the market.
Earlier this month, Midnite announced it would be the official betting and casino partner for the 2025 World Snooker Championship in the UK.
Previously, Midnite launched its first TV advertising campaign to promote its casino, airing a 30-second commercial on Sky TV, Channel 4, and Channel 5, across linear TV and streaming platforms.
