San Francisco-based BetZip has completed an additional funding round from venture capitalists and angel investors, reports theAlarmClock.

The company offes multi-user games, and has started with the online poker. It says it is legal because it makes it impossible to lose money — winners get prizes. It makes money by charging a $20 per month subscription.

From AlarmClock:

The company’s CEO is Jason Kellerman, who was CEO of LookSmart until January 2004. CTO Kevin Flood was GM at Harrah’s and VP Engineering at Wagerworks. Angel investors include Gil Penchina, CEO of Wikia.