An extra $15m has been entered into Betr Holding Incorporated’s strategic equity financing, bringing its funding total up to $100m.
The funding follows recently announced expansion plans for its online sportsbook product, placing the organization in seven states following the recent approval of its temporary wagering license from the Indiana Gaming Commission. In addition, Betr’s new casino product is pending regulatory approval in Chicago.
Founded in 2022, Betr is a sports gaming and media company, which began with an online sports betting product that offered microbetting markets. It has since moved into producing original short-form video content and developed a real-money daily fantasy sports product.
CEO Joey Levy extended thanks to the Indiana Gaming Commission, stating, "We are thrilled to announce our strategic equity financing, new members of our senior leadership team, and the approval of our temporary Indiana Sports Wagering license."
The expansion of the Betr senior leadership team follows the recruitment of Dan Maas as Head of Media Revenue, Partnerships, and Strategy, as well as Andrew Winchell as Head of Government Affairs.
Maas hopes to solidify monetization efforts for the company, heading up plans to shift Betr’s media arm into a viable revenue source. Andrew is expected to work on Betr’s internal government and regulatory affairs capabilities.
Betr recently ceased all of its sportsbook operations in Massachusetts, closing itself off to lucrative Boston & Cambridge markets. In the coming months, however, it is expected to launch its new V1 Sportsbook product in Indiana.
