Betr: Joey Levy teams up with Jake Paul to create sports betting company
The new direct-to-consumer brand will focus on reaching the latest generation of sports fans.
Simplebet Co-Founder Joey Levy and social media influencer Jake Paul have joined forces to form Betr, direct-to-consumer micro-betting focused sports betting company. Betr will focus “predominantly on micro-betting, a new form of betting that introduces instant gratification to the sports betting user experience by enabling the moments that drive US sports consumption,” according to the company statement.
Levy and Paul created the company to appeal to a new generation of sports fans.
Betr Co-Founder and CEO Joey Levy said: “We have an opportunity to build the most capital efficient and culturally relevant gambling business in the US – ultimately surpassing other sports betting companies whose primary focus remains on spending heavily on customer acquisition while offering commoditized legacy sportsbook product experiences – by introducing superior and differentiated product, while capturing billions of dollars-worth of free marketing via our media company, all while also directly monetizing our media company via sponsorship and licensing revenue.”
The Miami-based company has raised $50m in capital from various Florida investors, including Florida Funders, 8vc, Aliya Capital Partners, Fuel Venture Capital, FinSight Ventures, Co-Owners of San Francisco 49ers, Boston Celtics, and Miami Marlins, Travis Scott, Ezekiel Elliott, Dez Bryant, Richard Sherman, Desean Jackson, Palm Tree Crew, Anti Fund, 305 Ventures, Simplebet, Stronach Group and Magic City Casino.
Betr Founder and President Jake Paul said micro-betting is what brought him into the gambling industry.
He said: “I wasn’t into sports betting until I was introduced to micro-betting. Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr.
“We are in this for the long haul and are focused on doing things the right way. We are getting licensed state-by-state, adhering to each state’s regulatory framework while advocating for important consumer protections and responsible gambling. We want to be the category defining consumer company in both sports betting and sports media by the end of the decade and are confident we will achieve that goal.”
FanDuel’s Alex Ursa has joined the company as its head of product. Betr has also welcomed Mike Denevi from Bleach Report to represent Betr as its head of media.
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