- Jake Paul and business partner Joey Levy raised $50 million to launch a content platform and micro-betting company called Betr.
- Paul claims he was offered $40 by other sports betting companies in the past but declined.
- ‘BS with Jake’ is set to be the first piece of content under the new media platform.
Betr plans to be the future of sports betting with a focus on micro-betting, which allows specific types of bets on niche instances within live sports betting. This will allow bettors to wager on the next pitch, play, or pass of a game. Paul’s new venture plans to be the “TikTok-ification of sports betting.” Can Jake Paul’s sportsbook with the backing of Levy disrupt the sports betting market?
Jake Paul & Betr – What to Expect?
The first Betr project out of the gate will be a video series in collaboration with Jake Paul. Mike Denevi, chief operating officer at Bleacher Report, will serve as Betr’s head of media.
“Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr,” Paul said in a statement. “We are in this for the long haul and are focused on doing things the right way…. 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.”
Jake Paul Betr Sportsbook Comes with Real Backing
Betr, formerly Instabet, recently closed a $50 million series featuring a number of prominent athletes, celebrities, sports owners, and funds linked to franchises. They involved NFL players Braxton Berrios, Dez Bryant, Ezekiel Elliot, DeSean Jackson, and Richard Sherman; rapper Travis Scott; and two of the owners of the San Francisco 49ers (Mark Wan) and the Miami Marlins (Bruce Sherman).
Betr will launch in all 50 U.S. states with a free, open platform. That will allow our service to gain customers and learn about the viability of our technology as markets open for business, which can be simple or complex, depending on the state.
|Caesars Sportsbook||$1,500 Risk-Free Bet|
|FanDuel Sportsbook||$1,500 No Sweat Bet|
|BetMGM||$1,500 Risk-Free Bet|
|PointsBet||$500 Deposit Match|
|BetRivers||$250 Deposit Match|
John Levy is also the co-founder of Simplebet, Inc., and Betr, Inc., will become available on a state-level basis through Simplebet’s technologies. Following a free-to-play game, it intends to begin selling its products on a state-by-state level, across the legal U.S. sports betting states. For current, mobile sportsbooks check out these sports betting apps.
For the immediate future, $50 million in launch cash is being generated by a large number of investors, including venture funds like Florida Funders (Betr is headquartered in Miami), 8VC and Aliya Capital Partners, and creative investors such as Travis Scott, Ezekiel Elliott, and Richard Sherman. Nevertheless, sports wagering has become a major industry for Disney and Fox, as well as other companies and gambling conglomerates like Caesars Sportsbook.
In the world of boxing, Jake Paul has had a string of bad luck with future opponents, Tommy Fury couldn’t get a permit to fight in the U.S. Then backup fighter Hasim Rahman Jr. couldn’t make the weight limit which meant the fight was called off. For now, it seems that Jake is keeping all avenues of income open with this new Betr business venture posing a real lucrative opportunity.