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Betr

BS w/ Jake Paul Returns for Season Two

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Betr, the first microbetting-focused sports betting and media company, has announced that its most popular digital show, BS w/ Jake Paul has started its second season. The first episode of BS w/ Jake Paul’s second season is out now.

The first episode features UFC superstar prospect, Bo Nickal, who recently dazzled in his debut at UFC 285 with a first round submission against Jamie Pickett. The second episode will feature Buffalo Bills All-Pro Safety, Jordan Poyer. The show will also feature new co-hosts Million Dollar Marco, one of the all-time bettors with multiple $3 million dollar parlay hits last year and host of betr show, 100x Club, his cohost from 100x Club, Anthony Damato, and musical artist, Kill Jasper.

The season one of BS w/ Jake Paul was an enormous success. The Paul-led talk show created viral moments weekly and featured some of the biggest names in sports and entertainment, including Tyreek Hill, Tyler Herro, Rick Ross, Stephen A. Smith, Sugar Sean O’Malley, Israel Adesanya, Tyron Woodley, Devin Haney, and Dez Bryant. One of the top sports shows with respect to views per video, the show had more than 6 million full episode views on YouTube, more than 126 million total views across socials, and averaged 9.2 million views across Betr owned social accounts.

“I’m so excited to be back for season two. At Betr, we continue to disrupt legacy media, and it’s some of the most fun I’ve ever had. We listened to fan feedback, and we are back for a bigger and betr season two. We have new co-hosts with Million Dollar Marco and Anthony Damato, who are both hilarious and absolutely ridiculous. We also have one of the funniest guys I know, Jasper. All of them will bring their massive personalities on set for an even more entertaining Season Two,” said Jake Paul.

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BETR ADDS $15 MILLION IN STRATEGIC EQUITY FINANCING TO FURTHER ACCELERATE ITS SPORTS GAMING AND MEDIA BUSINESSES

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Betr Holdings, Inc. (“Betr”) announced it has closed $15 million in strategic equity financing from a premier group of investors at a $375 million valuation, bringing its total funding to date to $100 million. The round was co-led by Harmony Partners and 10x Capital, with participation from the company’s three largest existing investors: Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg/Eberg Capital, alongside others. This round of financing comes off a highly successful 2023 for Betr, where the company reached a significant level of scale – both with respect to paying users and revenue – while doing so efficiently and profitably.

Betr recently announced market access expansion plans for its Online Sportsbook product, having secured market access in PennsylvaniaOhio, Virginia, Indiana, Colorado, and Kentucky, as well as the upcoming launch of its Casino product (pending regulatory approval), with the company also securing iGaming market access in Pennsylvania. Betr has also officially received its temporary Indiana sports wagering license from the Indiana Gaming Commission in recent weeks.

Betr also recently announced that it has fortified its senior leadership team, hiring Dan Maas as Head of Media Revenue, Partnerships, and Strategy and hiring Andrew Winchell as Head of Government Affairs. Dan joins Betr from Wave Sports & Entertainment, where he worked his way up from VP of Partnerships to EVP of Commercial and oversaw the development and monetization of highly successful premium franchises, including New Heights with Travis and Jason Kelce and Podcast P with Paul George, in addition to leading the monetization of their successful original short form video focused social media content strategy, which are both highly synergistic to the core pillars of Betr Media. Dan will lead monetization efforts for Betr Media, positioning Betr’s media arm to become a large bona fide revenue-generating business – in addition to the primary benefit Betr Media serves, which is to create unfair customer acquisition economics for Betr Gaming. Andrew joins Betr from FanDuel, where he served as their Directory of Regulatory Affairs. Andrew brings a breadth of experience working closely with state regulators and political leaders on key issues pertaining to sports gaming and will meaningfully strengthen Betr’s internal government and regulatory affairs capabilities as the company scales in size and launches in new jurisdictions.

“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,” said Joey Levy, Founder and CEO of Betr. “Jake (Paul) and I co-founded Betr just over two years ago, so raising capital from leading growth stage investors at a $375 million valuation in the very early days of our business is a testament to the performance of the team and business to date, and the potential we have to build a category defining business with Betr. Finally, I want to thank the Indiana Gaming Commission for the honor and privilege of a sports wagering license in the Hoosier state. We are excited to launch our new V1 Sportsbook product in Indiana over the coming months, while bringing our best-in-class responsible gaming standards to the state.”

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Harmony Partners is a leading growth investor funding breakout emerging companies led by Mark Lotke, who led the software group at FTV Capital, led the pre-IPO group at Internet Capital Group, and prior to that was at General Atlantic. 10X Capital is a prolific venture capital firm led by co-founders Hans Thomas and David Weisburd having invested in companies including 23andMe, Palantir, Robinhood, and Udemy. 10X Capital was a significant investor in DraftKings going back to July 2018.

“We believe that Betr has the product, management and market opportunity that we saw in DraftKings in its early days with a significantly larger TAM and room for growth today,” said David Weisburd, Co-Founder and Head of Venture Capital at 10x Capital.

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Betr, WynnBet Ceasing Sports Wagering Operations in Massachusetts

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A pair of Massachusetts Category 3 Sports Wagering Licensees are ceasing operations in Massachusetts: Betr and WynnBet.

Betr official ceased operations in the Commonwealth at 11:59 p.m. EST on Friday, February 16. The Mass Gaming Commission (MGC) approved Betr’s cessation request during a public meeting on Wednesday, February 21, 2024, in accordance with Commission regulations.

Betr customers will be able to withdraw funds from their accounts until March 16, 2024. Following that date, Betr will send checks to Massachusetts customers who have not withdrawn their funds. Those checks will be sent to the last physical address the company has on file.

The MGC awarded Betr a one-year, untethered Category 3 Sports Wagering Operator License on February 23, 2023. The company opened its Massachusetts sportsbook on April 25, 2023.

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WynnBet is currently in the process of ceasing operations in the Commonwealth, in pursuance with Commission regulations. They are also planning to close sportsbooks in seven other states.

“For commercial reasons, WynnBET has decided to shut down mobile sports betting operations in Massachusetts. However, retail sports betting will continue to be offered by our related company at the sports book [sic] and kiosks located at Encore Boston Harbor,” the company wrote on their Massachusetts FAQs webpage.

Customers’ betting history will be accessible in their accounts until March 12. Similarly, future wagers that settle ahead of WynnBets’ close date will be settled as normal, while customers with bets that settle after that date will be contacted by WynnBet directly. Betr does not offer any future wagers at their sportsbook.

The MGC awarded WynnBet a one-year Category 3 Sports Wagering Operator License on February 23, 2023. Their license is tethered to Wynn MA LLC d/b/a Encore Boston Harbor. The company opened its Massachusetts sportsbook on March 10, 2023.

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Paysafe Enters into Partnership with Betr

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Paysafe has entered into a new partnership with Betr, the micro-betting app from American professional boxer and social media influencer Jake Paul that is disrupting the U.S. sports-betting space. The first phase of a multi-state deal sees Paysafe enable Betr’s customers in Ohio and Massachusetts to seamlessly fund micro-bets and traditional wagers using their debit card.

The new partnership strengthens Paysafe’s presence in the U.S. iGaming space, with the company already supporting multiple operators in Ohio since the market’s launch in January 2023 as well as Massachusetts, which went live in March 2023, alongside 25 other American states or jurisdictions. As the world’s first micro-betting app, Betr allows players in Paul’s native Ohio and the Bay State to wager on the outcomes of every single moment of a sporting event, serving to diversify the sports-betting products available to Americans – as well as the range of operators supported by Paysafe.

Now, when Ohio and Massachusetts players want to make a micro-bet or a standard sports-bet with the Betr iOS or Android apps on their smart phone or tablet, they can securely deposit into their account using their debit card, with all transactions processed in seconds by Paysafe’s own best-in-class payment gateway.

Betr’s connectivity to the Paysafe platform will allow the operator to access the payment provider’s complete range of alternative payment methods (APMs), including its digital wallet and eCash solutions. The partnership is expected to extend into additional U.S. states, as Betr launches in new gaming jurisdictions.

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Zak Cutler, President of Global Gaming at Paysafe, said: “We’re proud to partner with Betr, which shares Paysafe’s own dedication to product innovation and driving the broader evolution of the U.S. sports-betting space. We look forward to supporting the growth of Betr in Ohio and Massachusetts as well as future states by providing the operator and its customers on-the-go with an unparalleled payment experience that befits the impressive UX of the Betr app.”

Joey Levy, Founder and CEO at Betr, said: “We are excited to announce our partnership with Paysafe and are looking forward to working with them as we continue scaling the Betr business. They are reliable, experienced, and share our perspective that we are just scratching the surface of product innovation in the regulated real-money gaming industry.”

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