August 8, 2022, MIAMI — the Miami-based company has raised USD 50 million from notable investors, including Travis Scott, Ezekiel Elliott, Dez Bryant, Richard Sherman, Desean Jackson, Palm Tree Crew, Anti Fund, 305 Ventures, Simplebet, Stronach Group, Magic City Casino, and many others. These investors include Florida Funders, 8vc, Aliya Capital Partners, Fuel Venture Capital, FinSight Ventures, Co-Owners of the San Francisco 49ers, Boston Celtics, and Miami Marlin.
The first direct-to-consumer micro-betting sports betting firm, Betr, was officially launched today by founders and CEO Joey Levy and Jake Paul. The two are also developing a new media firm for the next generation of sports enthusiasts as part of the corporation’s efforts. To do sports and bet betr, Betr is aiming to upend traditional gaming and media.
Joey Levy, the founder and CEO of Betr, stated:
“I co-founded Simplebet to simplify the sports betting user experience – to reconsider why sports betting products were unintelligible to the casual fan who had never bet on sports before.” Because soccer, a fluid activity without a natural start and stop rhythm, was the focus of the worldwide market, we found that the technology needed to allow a scaled micro-betting platform around the moments that drive U.S. sports did not yet exist. Therefore, we at Simplebet decided to design it ourselves. Despite this, the user interface is still tricky for average consumers to understand years later.
Jake Paul, the founder, and president of Betr, said that:
“I’m thrilled to introduce micro betting through Betr to the general public since it is the TikTokization of sports betting. We are committed to carrying out the task properly because we are in it for the long haul. As we adhere to each state’s regulatory framework and apply for licenses, we fight for significant consumer safeguards and responsible gaming. By the end of the decade, we hope to be the market leader in sports betting and media, and we are optimistic that we will succeed.”
Simplebet CEO Chris Bevilacqua said:
“We’re happy to be Betr’s technology partner, providing new in-play betting experiences focused on micro-betting and redefining the way customers engage and gamble on sports. “Together with the reinvented user experience, reach, and influence of Betr’s distribution channels, our best-in-class technology will be a potent force in the market. We are thrilled to be at the center of the rapidly expanding convergence of sports, media, and technology, which this partnership represents in many ways.”
More about the company:
Betr was the first direct-to-consumer sports betting business, founded in 2022 by Joey Levy and Jake Paul. Additionally, Betr has begun a brand-new media project aimed at the next generation of sports lovers. To do sports and bet betr, Betr is aiming to upend traditional gaming and media.
By establishing a whole business around it and providing the experience through an easy-to-use UI layer, Betr will unbundle micro-betting. Given that (1) American sports’ stop-and-start tempo lends itself perfectly to this type of wagering and (2) micro-betting adds new features similar to how daily fantasy sports innovated on top of season-long fantasy, micro-betting will eventually become the primary way that consumers bet on American sports.
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