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Betr Raises $15 Million for Sports Gaming and Media Expansion
Last updated on March 9th, 2024 at 08:06 am
Betr Holdings Inc. recently secured $15 million from investors, which it earmarked for its sports gaming and media expansion. The company’s total funding is now $100 million, and its valuation is $375 million.
Fuel VC, Aliya Capital, and Eberg Capital, among others, invested in the round co-led by Harmon Partners and 10x Capital. Betr also received investment from additional investors. This accomplishment builds on Betr’s banner year of 2023 when the firm effectively and successfully attracted many paying users and generated huge income.
According to pay per head reviews and news sites, internet gambling entrepreneur Joey Levy and famous social media personality and boxer Jake Paul co-founded Betr. The company announced significant staff additions and expansions in addition to the funding.
Plans to enter more states for the company’s online gambling platform have been announced, with Pennsylvania, Ohio, Virginia, Indiana, Colorado, and Kentucky among them. Betr has also obtained iGaming market access in Pennsylvania and Indiana and is preparing to launch its casino offering as regulatory permission is received.
Betr’s Sports Gaming and Media Expansion
In addition to these growths, Betr has strengthened its senior leadership team by appointing Andrew Winchell as head of government affairs and Dan Maas as head of media revenue, partnerships, and strategy.
Maas has a wealth of knowledge gained from his time at Wave Sports & Entertainment, where he oversaw fruitful collaborations and revenue generation initiatives. As Betr navigates regulatory environments across numerous jurisdictions, Winchell’s depth of regulatory affairs expertise—brought to the table from FanDuel—will be invaluable.
The CEO and creator of Betr, Joey Levy, was quite enthusiastic about the new advancements and said that the firm may revolutionize the sector. According to sportsbook pay per head experts, Levy thanked the Indiana Gaming Commission for issuing Betr a temporary sports betting license in the state and thanked investors and regulatory agencies for their support.
The leading investors in this funding round, Harmony Partners and 10x Capital are bullish on Betr’s future compared to the early days of industry behemoths like DraftKings. According to David Weisburd, co-founder and head of venture capital at 10x Capital, Betr’s product, management, and market prospects were critical factors for investment.
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