Favourit launches $6 million public offer on ASX

Australia-based online gambling company Favourit Global has launched a public offer through a reverse takeover of ASX listed Celsius Coal, to raise AU$6 million (US$4.5 million), local media reports.

Favourit, which is currently licensed in UK, Ireland, Malta and Curacao, is positioned to capture market share with younger, social punters – using and developing its own unique platform and user experience.

The funds raised through the ASX will be utilized for marketing and customer acquisition, says Favourit.

Founded in 2012, Favourit is building a sports betting platform designed like a social network. It offers a range of international sports, social feeds, betting sentiment and betting trends.