Betr
BETR ADDS $15 MILLION IN STRATEGIC EQUITY FINANCING TO FURTHER ACCELERATE ITS SPORTS GAMING AND MEDIA BUSINESSES
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 Pennsylvania, Ohio, 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.”
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.
Betr
Betr and Polymarket Announce Multi-year Partnership
Betr, the company behind the world’s first real money gaming super app, and Polymarket, the world’s largest prediction market, announced a multi-year partnership to bring prediction markets to Betr users nationwide. Beginning in 2026, Betr will launch prediction markets powered by Polymarket directly within the Betr super app, making events contracts across sports, politics, culture, and more available to one million paying users.
“Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. Launching Predictions is an important step toward our vision of creating the first true nationwide real-money gaming and financial super app, integrating a category projected to reach $1 trillion in annual volume into the same seamless experience as Picks, Sportsbook, Casino, and Arcade. There is no better partner than Polymarket to power this expansion, given their category leadership and deep connectivity across the sports ecosystem,” said Joey Levy, Founder and CEO of Betr.
“Prediction markets are becoming a foundational tool for understanding the future, and scale is what brings them into the mainstream. Betr has built one of the most engaged sports audiences in the country, and their ability to engage millions of users makes them the ideal partner to bring prediction markets to a massive new audience. This partnership allows us to scale our infrastructure and continue bringing the power of prediction markets into the daily experience of sports fans across the country,” said Shayne Coplan, Founder and CEO of Polymarket.
Betr already operates Betr Picks, Betr Social Sportsbook, Betr Social Casino, and Betr Arcade in the majority of the country, and holds gaming licenses nationwide and has been publicly commended by the regulatory community for being a leader in responsible gaming. Betr’s prediction markets product will be available within the same single app experience as the company’s other products.
The post Betr and Polymarket Announce Multi-year Partnership appeared first on Americas iGaming & Sports Betting News.
2025 NFL season
Betr Kicks Off NFL Season with Revamped Betr Picks, Industry-highest 10,000x Payouts, Free $10 Play, and the Launch of Betr Arcade
Betr, a leading gaming and media business, announced a major revamp of its daily fantasy sports pick ’em product, Betr Picks, along with the official launch of Betr Arcade, just in time for the 2025 NFL season. Betr Picks is currently live in 33 U.S. states plus Washington, D.C., reaching approximately two-thirds of the U.S. population, while Arcade has initially launched in 29 states, giving millions of users access to real-money peer-to-peer skill games.
Betr Picks’ overhaul introduces a new, simplified and modern user interface, expanded sports offerings including WNBA and top global soccer leagues, significantly more projections across both new and existing sports, and its industry-first 10,000X payout multiplier. In addition, the innovative “Mystery Multiplier” feature now allows two-pick lineups, which typically return 3X, to return payouts to users of up to 1000X.
To celebrate the launch, all new users will receive $10 to play for free, no deposit required, during the first two weeks of the NFL season. Additionally, new users will also be eligible for a 50% deposit match up to $200, and all existing users will receive a deposit match for each of the first two weeks of NFL season. With over $250 million already won on Betr, these updates are designed to bring an elevated experience to both new and existing users.
The debut of Betr Arcade marks the company’s entry into the casual peer-to-peer skill gaming space, featuring four initial games: 21, Fruit Match, Crossout 21, and 5 Across with more games rolling out in the coming weeks. Games start at just $1.25 and allow players to practice before entering real-money contests against others. The launch was highlighted by co-founder Jake Paul playing one of the games, 21, in a promotional video shared on social media.
“The Betr app has never been as strong as it is today. Betr Picks is now a top tier daily fantasy sports pick ’em product despite launching just less than two years ago, and we now have Betr Arcade live in 29 states, giving our customers a new skill gaming experience. We now have two nationwide gaming products live in our single Betr app available to users in a single wallet. The innovation won’t stop here – we will be releasing additional new products over the coming months – in addition to releasing several more games within Betr Arcade and further improvements to Betr Picks. The Betr team continues to prove that it ships product with a greater level of velocity than any other company in the industry. Most importantly I am excited for the hundreds of thousands of sports fans and gamers who have already won $250M on Betr to experience an early version of this new first-of-its-kind gaming super app,” said Joey Levy, Founder and CEO of Betr.
The post Betr Kicks Off NFL Season with Revamped Betr Picks, Industry-highest 10,000x Payouts, Free $10 Play, and the Launch of Betr Arcade appeared first on Gaming and Gambling Industry in the Americas.
Betr
Jake Paul-Linked Gambling App Betr Arcade Launches
Betr, the gambling and fantasy sports operator founded by Joey Levy and social media personality-turned-boxer Jake Paul, has introduced Betr Arcade, a cash-based gaming product built on head-to-head competition. The new feature launched earlier this month inside the Betr Picks daily fantasy sports platform and includes four games: 21, Fruit Match, Crossout 21, and 5 Across.
Unlike traditional casino play, these contests pit players directly against one another, rather than against the operator. Entry begins at $1.25 per game, with a practice option available for those who want to try the formats without wagering before entering for money. You should also ensure that you take advantage of a Betr picks promo code before entering for real money.
Levy described Betr Arcade as the company’s dedicated skill-gaming product, noting that it is already live in 29 states. He added that more titles and additional categories will be released in the coming months, broadening the scope of the Betr app beyond fantasy and skill-based contests.
The launch arrives as legal real-money online casinos are only offered in seven states, meaning that most of the nation cannot access regulated content. Focusing on peer-to-peer platforms, which are not subject to the same regulations as casino sites, Betr has been able to provide its services in states that ban casino play.
That includes big markets like Florida, Texas, and California, which have previously seen regulators crack down on against-the-house fantasy games. The peer-to-peer approach has allowed Betr to continue operating while expanding into new skill-based products.
Betr is not the only operator adapting its model to navigate state-level restrictions. Rival daily fantasy sports (DFS) operator PrizePicks has confirmed it no longer offers against-the-house Pick ’em contests in the US, shifting entirely to its peer-to-peer Arena product.
The change took effect on Aug. 22, according to a company spokesperson, who highlighted the move as an effort to deliver a more social and sustainable DFS product.
Previously, PrizePicks offered Pick ’em in 17 states and Washington, D.C., including major markets like California and Texas, where fantasy sports remain unregulated. Arena, first launched in January 2024, requires players to pay an entry fee to join competitions against other users, with prizes awarded to the highest-scoring lineups.
The format has been positioned as less vulnerable to regulatory pushback, as some state authorities have likened Pick ’em contests to sports betting.
PrizePicks had already shifted to Arena-only play in California in June, shortly before the Attorney General’s office issued an opinion stating that all DFS products violated state law. Following that decision, Underdog Fantasy also removed its Pick ’em contests in California.
Currently, PrizePicks is active in 45 states, Washington, D.C., and every Canadian province except Ontario. It has also secured a license in Puerto Rico.
The post Jake Paul-Linked Gambling App Betr Arcade Launches appeared first on Gaming and Gambling Industry in the Americas.
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