YouStake, the first fully integrated sports staking platform that allows the masses to invest in skilled sports players for entry in live events, is making headlines again, this time for acquiring TastyStakes.com, a poker staking platform.
In addition, media personality David Tuchman, formerly of TastyStakes and known for his World Series of Poker live stream commentary and popular podcast Under the Gun, was named the new brand ambassador for YouStake.
"I believe YouStake will help create an amazing fan experience where they can actually invest in a player they love and sweat along with them," Tuchman told PokerNews. "The bond between fan and player will only be strengthened. It's obviously a fantastic tool for any player looking for investments but even for those that don't need the investment, it's a way to connect with your fans. Can you imagine the ability to invest in your favorite golfer or horse? YouStake was missing just a few ingredients, and by acquiring TastyStakes, they've addressed those needs."
The news comes on the heels of January's announcement that YouStake had been accepted into the global venture capital seed fund and startup accelerator company 500 Startups, making it the first poker-centric company to be chosen as part of the program.
“One of our visions with YouStake is for poker fans to be able to sponsor their favorite player into tournaments. This new relationship allows us to work together and tackle major problems with what was previously an underground ecosystem/marketplace," said Frank DeGeorge, CEO of YouStake.
Among the players already using YouStake, which provides the technology platform needed for backers to invest in player entry fees, are Anthony Zinno, Jamie Gold, Greg Raymer, Allen Kessler, and Max Pescatori.
With the acquisition, TastyStakes founder Andrew Welch will join YouStake as their first CTO.
"I saw YouStake as a great fit because they’re gaining a lot of attention and we share a similar vision," said Welch. "I’m looking forward to helping the team grow within the Poker Sponsorship vertical and expand to the next.”
Scott Hansbury, YouStake COO, echoed those sentiments: “Andrew is a strong CTO with a great design and UX/UI experience."
YouStake is taking submissions for player listings for the 2016 WSOP, and on May 13 plans to attend the 500 Startups Demo Day.