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Sports Betting Entrepreneur Joey Levy and Media Mogul Jake Paul Announce Creation of Micro-Betting and Media Company “Betr” with $50M Series A

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Sports betting entrepreneur Joey Levy and media mogul Jake Paul announced the creation of Betr, the first direct-to-consumer micro-betting focused sports betting company. Levy will be acting as CEO of the company, while Paul will be the President, which has raised $50 million in a Series A round.

As part of the company’s efforts, the two are also launching a new media venture for the next generation of sports fans. Betr is setting out to “disrupt legacy gambling and legacy media”, with a mission of making sports and betting “betr”.

Betr is the first direct-to-consumer sports betting company to 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 U.S. sports consumption – such as pitches & at-bats of baseball games and plays & drives of football games – to become discrete betting opportunities.

Levy is the co-founder of Simplebet, the B2B technology company that has pioneered micro-betting on U.S. sports by building the machine learning and automation infrastructure to enable this new form of betting to exist at scale.

Betr will be leveraging Simplebet’s technology and is releasing its app in the coming weeks, initially as a free-to-play experience available in all 50 states, with a state-by-state rollout of its licensed real money betting experiences to follow later this year. Betr has secured market access in multiple U.S. states through strategic equity-based partnerships that the company will be announcing in the near future.

Paul, who has 70 million followers on social media and is one of the most searched public figures on Google, kicked off the launch of Betr’s media company with a preview of “BS w/ Jake Paul,” the first of many franchises Betr will release as it aims to become the primary media platform for the next generation of sports fans.

The show will feature Jake, arguably the most disruptive athlete-influencer in sports and one of the most famous Gen-Z personalities in the world, along with his celebrity friends taking fans on a journey across the landscape of sports and sports betting through the eyes of an A-list athlete. The show sets out to become one of the most viewed and engaged sports shows on digital with each episode featuring Jake, his sidekick co-hosts, and celebrity/athlete guests as they discuss the hottest stories in sports. In addition to generating brand awareness and affinity for the Betr brand, Betr’s media company will independently generate revenue for Betr, with the company evaluating sponsorship opportunities for “BS w/ Jake Paul” and its other premium content initiatives.

Joey Levy, Founder and CEO of Betr, said: “I co-founded Simplebet to simplify the sports betting user experience – to reconsider why sports betting products felt uninterpretable to the casual fan who had never bet on sports before. In doing so, we discovered that the technology required to enable a scalable micro-betting platform around the moments that drive U.S. sports did not yet exist, given the global market’s focus was on soccer, a fluid sport without a natural start and stop cadence. So we decided to build it ourselves at Simplebet; however, years later, the user experience remains unintuitive for a mass market consumer.

“Betr will unbundle micro-betting by building an entire company around it and delivering the experience in a simple, intuitive UI layer. We believe micro-betting will ultimately emerge as the predominant way consumers bet on U.S. sports, given (1) the stop and start cadence of U.S. sports lending itself perfectly to this style of wagering, and (2) similarly to how daily fantasy sports innovated on top of season long fantasy, micro-betting introduces an order of magnitude greater level of instant gratification to the current sports betting user experience.

“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.”

Alex Ursa has joined Betr as Head of Product from FanDuel, where he helped build their sports betting & casino businesses into the clear market leader. Mike Denevi has joined Betr as Head of Media from Bleacher Report, where he helped build BR Betting into the top sports betting media brand on social. The company is headquartered in Miami and the team will be working together in person, which it views as a competitive advantage in a post-COVID world that has embraced remote work.

Jake Paul, Founder and President of Betr, 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.”

Simplebet CEO Chris Bevilacqua said: “We’re thrilled to be Betr’s technology partner, powering unique in-play betting experiences centered around micro-betting and transforming the way consumers engage and wager on sports. The combination of our best-in-class technology together with the reimagined user experience, reach, and influence of Betr’s distribution channels will be a powerful force in the market. This partnership features many of the best elements of the rapidly increasing convergence of sports, media, and technology and we are excited to be in the center of it.”

Betr has raised $50 million in funding from renowned institutional and strategic investors and some of the most influential athletes, celebrities, and sports team owners 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, Richard Sherman, Dez Bryant, DeSean Jackson, Braxton Berrios, Palm Tree Crew, Roger Ehrenberg, Mark Wan, Russell Galbut, David Grutman, Deirdre Bigley, Gary Barber, Simplebet, Stronach Group, Magic City Casino, Anti Fund, 305 Ventures, Elizabeth Street Ventures, Riverside Ventures, Gaingels, Moving Capital, Elysium Venture Capital, FJ Labs, Tampa Bay Ventures, Trog Hawley, and many others. Betr closed a $30M Series A led by Florida Funders earlier this year in what was the largest investment in Florida Funders history. The Series A was oversubscribed, so the company raised an additional $20M Series A1 led by Aliya Capital Partners and Fuel Venture Capital, with its initial closing last quarter and its final closing scheduled for this quarter.

“Florida Funders saw a massive opportunity in a nascent market where the legacy players have not been strong from product, technology, and cultural relevance standpoints. In addition to the market opportunity, the ability to back Joey Levy for the third time – having invested early with Joey in Simplebet and in 305 Ventures – was something we could not pass up on. In addition to Jake Paul, Joey has surrounded himself with great people, including Alex Ursa and Mike Denevi. We could not be more excited about the future of Betr – and are thrilled to be on this journey as this team changes sports betting and sports media in the US,” Saxon Baum at Florida Funders said.

Interviews

Women in iGaming Interview: White Hat Studios’ Holly Fairweather

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Women in iGaming Interview: White Hat Studios’ Holly Fairweather

 

Holly Fairweather, Director of US Accounts at House of Brands provider White Hat Studios, sits down with Gaming Americas to discuss the growing influence of women in the iGaming industry, and highlights how more can be done to improve the overall gender imbalance

 

Gaming Americas: Since joining the industry in 2018, have you noticed a change in how women are represented within iGaming companies, as well as general attitudes?

Holly Fairweather (HF): When I reflect on the past six years, it feels great to say I have seen a lot of positive changes in our industry and more importantly, an ever-increasing drive to address gender diversity. There is still work to do, and I am reminded of this attending our industry events, where it’s very evident we still lack female presence in C-level roles and on expert panels. It’s also not hard to see walking around conferences the overall gender imbalance that exists. With that being said, I do feel it’s moving in the right direction and I am regularly inspired by women around me being promoted to senior management roles, providing great mentors and role models. Awareness of gender diversity and celebrating success is continually being pushed via various channels, and for me plays a big part in why we are seeing more women have the confidence to progress in their careers and more women enter the industry. It’s also important to say, and why I think change is happening more, that the want of women to succeed and to increase female presence in our industry, is indeed backed by a strong support network of women supporting women, but also of the men in our industry.

 

Gaming Americas: How important are groups like Global Gaming Women? What kind of initiatives have they offered to help your own career development?

HF: I’ll be honest, I’m still learning about all that Global Gaming Women offers. Working in the US market I see GGW as a substantial network which offers reams of support from training courses, lean in circles and mentorship and networking events just to name a few. I have taken part in a few of the industry wide networking events, and really enjoyed them, connecting with some amazing people, learning more about the industry. One of my objectives this year is to participate in more events, adding value where I can whether that’s within the GGW network or through other avenues.

 

Gaming Americas: What more can the industry do to make it more appealing to women and ensure they are better represented within organizations?

HF: It’s got to start within each individual company taking responsibility for equal representation. This is not a tick box exercise to achieve a target on a gender split % by x date but must be about promotions and roles being rewarded to the best candidate for the role, regardless of gender, ethnic background, or sexual orientation. We need to shout about the success stories of DEI within the industry, creating an inclusive work environment will attract not just more women but more candidates overall, increasing the talent pool.

There is also a piece around exposure and shining the light on the fantastic women we have leading the way. Sharing their career paths, the good, and the challenges, to provide relatable examples of success. To make women in gaming not about the stats or portray the headline as a negative but more around showcasing the women that are successful and why, helping more women relate and pursue a similar path if this is what they wish to do.

 

Gaming Americas: What advice would you give to the next generation of women that are looking to make a breakthrough in the industry?

HF: This is a good one! First and foremost, you lead your own progression. Be proactive in building your network, push yourself out of your comfort zone to attend networking events. Reach out to other women in the industry for support and mentorship. That is on you to drive.

Immerse yourself in a team with values that align with yours, a team that welcomes and promotes diversity of all types and supports and rewards on merit are key.

Build your knowledge, for me knowledge is confidence. Quickly realise it is ok not to know everything, ask the questions and find out. Be solution-oriented, supporting your superiors will get you noticed for going over and above and adding value to your team and company.

I was told ‘people do business with people,’ which I stand by and could not be truer in the igaming industry. Always treat everyone with respect, be kind, be yourself, but don’t forget to back yourself! Relationship building is so key in this industry and has helped me progress to where I am today.

Lastly, take risks. And by this, I mean sometimes you must step out your comfort zone and push yourself to try something different to progress to the next stage. So far, the most pivotable moment in my career and biggest risk I have taken, and I’m sure Andy Whitworth (CEO) and the White Hat Studios (WHS) team won’t mind me saying, was accepting the job at WHS. A brand-new supplier to the US, no content live alongside the fact I had never worked in the US market, so of course there was an element of risk. It was, however, a calculated risk as I was joining a team of experts, senior level management I had worked for previously, in an ever-growing US market. A no brainer now when I look back.

 

Gaming Americas: From a White Hat Studios perspective, what DEI initiatives does the company put in place?

HF: DEI of all types is something I believe increases the performance of a team, and is something we are extremely passionate about at WHS. As we grow and expand, maintaining a strong culture has never been more important. We recently held a WHS workshop in Prague, with one section of our day spent holistically agreeing and locking down our values as a team, ‘Who we are, what we stand for ‘and ‘treating everyone equally’ is now embedded in our company culture as one of our five core values.

I have been lucky in the fact I have never felt that my gender has held me back in my current role and previous igaming companies. Although I understand this has not been everyone’s experience, I truly believe the more we celebrate success, drive awareness, embed inclusion within our companies, and work together across DEI as a whole, we will continue to see women progress and take on careers in igaming.

 

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Lottery.com Inc. Relaunches Sweepstakes Operations

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Lottery.com Inc. announced the restart of its sweepstakes operations in conjunction with the WinTogether Trust, a registered 501(c)3 charitable organization. The proceeds from the sweepstakes will benefit Street Child United. The sweepstakes had a soft launch on April 3, 2024, and is available at http://donateto.win, the successor to Lottery.com’s WinTogether.org platform.

Street Child United is a global organization dedicated to improving the lives of street-connected children. The organization focuses on four key pillars: Ensuring every child has birth registration which provides access to healthcare and education; protecting children against abuse, exploitation, and trafficking; securing access to education; and setting a foundation for gender equality.

Donors are incentivized to give by receiving entries to win an Apple Vision Pro mixed reality headset. More information and donation options can be found at https://donateto.win. The sweepstakes to support Street Child United will continue until 11:59PT on August 31, 2024. The winner will be announced on or around September 20, 2024.

Matthew McGahan, CEO of Lottery.com, said: “This is a significant milestone for Lottery.com. The Company, through its partnership with the WinTogether Trust, is resuming its commitment to supporting philanthropic initiatives that focus on responsible gaming along with local, regional, and global charitable initiatives. Street Child United is a wonderful organization. We believe their mission will resonate with the Sports.com’s growing global user base.”

Bart Myers, Director of the WinTogether Trust, said: “The WinTogether Trust board is excited for our organization to play a role in the resurgence of Lottery.com. Being able to leverage their powerful brands, Lottery.com and Sports.com, will allow us to exponentially expand the number of organizations we support and the financial impact our sweepstakes make for them.”

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Gambling in the USA

Colorado Launches Illegal Gambling Awareness Campaign

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The Colorado Division of Gambling has launched a new illegal gambling awareness campaign.

The “Play Legit. Gamble Only Where Legal.” campaign aims to educate the public about the risks associated with illegal gambling and the importance of supporting regulated gaming venues.

The campaign emphasizes legal gambling options, including casinos in Black Hawk, Central City, and Cripple Creek, as well as online sports betting and off-track betting.

“With many certified and legal gambling sites available, it’s never worth it to put yourself in danger. Together, let’s play by the rules and ensure that Colorado remains a safe and responsible gaming destination. By recognizing and preventing illegal gambling, we all win,” Chris Schroder, Director of the Colorado Division of Gaming, said.

In Colorado, gambling opportunities abound, but not all are legal. Illegal gambling operations not only fail to protect players but can also serve as a breeding ground for serious crimes, including fraud, human trafficking, drug trafficking, and burglary, posing a threat to public safety and community well-being. Participants in illegal gambling activities also compromise personal and financial information, putting individuals at risk of identity theft, unreliable payouts, and potential legal consequences, such as fines and imprisonment.

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