MGT Capital launches skill gaming website

New York-based MGT Capital Investments, Inc. has announced the commercial launch of its real money skill-based gaming website, mgtplay.com.

The site offers a range of professionally designed games allowing registered players the opportunity to wager and win cash, in one-on-one play or tournaments.

Skill-based games allow players to compete head-to-head with one another via the Internet for small stakes.

MGT Play hosts online competitions in popular casual game genres including Cards, Sports, Puzzles, Strategy and Arcade, in both play-for-fun and real-money mode.

The company boasts that it has already handed out over $10 million in annual winnings on MGT Play’s partner site in Germany.

The U.S. skill based gaming industry saw revenue of $2.5 billion in 2013, and is projected to surpass $9 billion in annual revenue by 2017, according to a national consumer study conducted by Frank N. Magid Associates recently.

Skill based gaming distinguishes itself from gambling in that skill gamers win based on skill while gamblers win based on luck. Online skill based gaming is legal in 33 US states.

MGTPlay general manager Jeremy Avin said Thursday:

“With the launch of MGTplay.com, we are now in a position to fully monetize our subsidiary MGT Studios with the first of two ventures. MGT Play presents the top games in a sleek design offering users competitive and quality choices in online gaming entertainment.

“Research shows that 8 percent of the U.S. population currently plays skill based games for money online, and that figure stands to grow with the emerging mobile market. By partnering with an established company, M2P Entertainment GmbH, MGT has a strong foothold in this fledgling industry.”

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