Mark Cuban Invests in eSports Wagering

Betting on video game tournaments has caught the sharp eye of Mark Cuban. So much so that he is part of a group of investors who have put up $7 million in a Seattle-based company called Unikrn that provides wagering services on video game competitions outside of the U.S.

League of Legends and Counter Strike: Global Offensive are some of the games played and wagered on in the eSports category. Those placing bets are located in regions such as Australia, Ireland and the U.K.

Currently, the U.S. is not a market being serviced. That may change in the future, as Unikrn does plan to target U.S. customers in its electronic sports wagering venture at some point, Fortune reported.

Cuban, of course, is a billionaire investor who can be seen on ABC's Shark Tank on Friday evenings, shrewdly choosing investment opportunities from entrepreneurs who enter the tank and make their pitches or presentations. Well-known for letting the show's other potential investors (sharks) such as Robert Herjavec, Kevin "Mr. Wonderful" O'Leary and Lori Greiner make offers before deciding if he will join in the bidding war, Cuban apparently did not wait very long to get in on the eSports opportunity.

“I’m excited to be involved with a new sport just as it’s poised for huge growth," Cuban stated. That involvement was solidified just a few minutes after Cuban watched an interview on CNBC with one of the co-founders of Unikrn. A couple of days later, the Dallas Mavericks' outspoken owner was part of an investment group that included Rupert Murdoch's daughter, Elisabeth.

Unikrn started up just six months ago and announced its public launch two months ago. The cash provided by Cuban and the new investors will be used to hire more personnel and increase marketing efforts. The company also plans to expand beyond eSports wagering in the future.

The finals of the 2014 League of Legends World Championship was viewed by 27 million fans. Twitch is a hotbed of live gaming action, gaining popularity in video games before poker players such as Jason Somerville began streaming their sessions on that medium.