Betfair makes another move into U.S. market

[The Buzz]

Betfair continued to cement its position in the U.S. market after making a multi-million dollar investment in U.S-based Watercooler Inc, a leading developer of fan communities and social games.

Watercooler provides games on social networking sites Facebook, MySpace, Yahoo, Google, Bebo and Friendster. The company will use Betfair's investment to fund further development on fantasy sports.

From Gaming Intelligence:

"Our investment is further proof that Betfair believes the fantasy sports market is a tremendous opportunity in the U.S and around the world," said Gerard Cunningham, President of Betfair U.S.

"Watercooler's strong team and its proven ability to execute an innovative approach to social networking and sports, is extremely compelling as we continue to build Betfair's global portfolio of sports and social media offerings."