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Betr Brings In $15 Million To Disrupt Sports Betting

March 17, 2024
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Betr Brings In $15 Million To Disrupt Sports Betting
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One of the fastest growing companies in sports betting is getting ready to expand.

‍What’s happening:‍

  • Sports betting startup Betr has raised $15M USD in a new equity financing with strategic partners
  • The round was led by Harmony Partners and 10x Capital

Why it matters:‍

  • Sports betting has become a growing area of opportunity in both venture capital and the public markets with Flutter (NYSE: FLUT) recently going public
  • Flutter is the parent company of popular betting platform FanDuel and one of the largest competitors to DraftKings (NASDAQ: DKNG)

By the numbers:‍

  • Since inception, Betr has raised a total of $100M USD in venture capital funding
  • Betr’s flagship betting product known as Daily Fantasy Sports is currently available in 24 different states

Going deeper:‍

  • Betr was co-founded by Jake Paul and Joe Levy and has quickly become one of the fastest growing companies in all of gambling
  • Ohio, Virgina, Colorado and Kentucky have all recently given Betr regulatory approval to launch their betting platform to individuals within their respective states

The intrigue:‍

  • Betr has publicly announced that they plan to roll out a new casino product, pending regulatory approval in the United States

‍

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