{"id":279256,"date":"2023-06-27T14:32:23","date_gmt":"2023-06-27T19:32:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=279256"},"modified":"2023-06-27T14:43:24","modified_gmt":"2023-06-27T19:43:24","slug":"betr-gains-35m-in-funding-now-valued-at-300-million","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/","title":{"rendered":"Betr Raises $35 Million, Now Valued at $300 Million"},"content":{"rendered":"

Sports wagering startup Betr announced it raised $35 million in a series A2 funding round. That values the privately held company at a pre-money valuation of $300 million.<\/p>\n

\"Levy\"
Betr co-founders Joey Levy (left) and Jake Paul. The company announced a new $35 million funding round that values it at $300 million. (Image: Joey Levy\/Medium<\/em>)<\/figcaption><\/figure>\n

The latest funding round in the microbetting company was led by Roger Ehrenberg via IA Sports Ventures and Eberg Capital, and Fuel Venture Capital. With a $10 million contribution in the A2 round, Fuel Venture boosted its investments-to-date in Betr to $20 million.<\/p>\n

Both co-founders — Joey Levy via a personal investment and Jake Paul via Anti Fund — participated in the round, and other major existing investors including FinSight Ventures, Florida Funders, and Aliya Capital Partners have invested significantly beyond their pro rata,\u201d according to a statement issued by the Miami-based company.<\/p><\/blockquote>\n

Founded in 2022, Betr operates across<\/a> two primary divisions, Betr Gaming and Betr Media. The company is operational in Massachusetts and Ohio, and is licensed to offer microbetting in Virginia. It plans to launch in that state at an as yet to be determined date. The company also has market access in Indiana.<\/p>\n

Betr Funding Confirms Appetite for Betting Investments<\/h2>\n

Over the past several years, some smaller companies have encountered bumps and bruises in the domestic sports wagering space, but Betr\u2019s latest funding round<\/a> and freshly elevated valuation confirms investor interest in the industry remains robust.<\/p>\n

\n

Additionally, microbetting, a derivative of in-game wagering, could be a new growth avenue for the industry. As things stand today, live betting is already popular and gaining momentum. Currently, about half of all sports bets are placed live or in-game.<\/p>\n<\/div>\n

That style of wagering is popular in markets outside the US, namely Europe, where slower-paced sports are popular with bettors. In the US, sports such as basketball, hockey and, to a lesser extent, football, aren\u2019t conducive to in-game betting. However, baseball and golf, among others, are suited for it.<\/p>\n

Betr Gaming began with a microbetting-only product, allowing users to bet on individual plays and events \u2013 such as pass or rush on the next play in football or the outcome of the next pitch in baseball, and is expanding its product offering to include additional markets with full sportsbook capabilities,\u201d according to the statement.<\/p><\/blockquote>\n

Betr says it plans to introduce two new gaming verticals<\/a> in the weeks ahead. The company is the first and only in the industry to have banned credit cards as a form of deposit, and sets monthly deposit limits for clients in the 21 to 25 age group.<\/p>\n

Betr Media Could Be Alluring to Investors, Too<\/h2>\n

Like other sports betting companies<\/a>, Betr has a media operation. Analysts expect that in the years ahead, tie-ups between media and wagering media firms will increase, potentially bolstering revenue on both sides.<\/p>\n

\n

To date, those arrangements have earned mixed reviews, but Betr appears to be generating success with its media division. Namely, Betr Media is generating buzz while driving the operator\u2019s customer acquisition costs lower.<\/p>\n<\/div>\n

\u201cBetr\u00a0Media is the fastest growing sports betting media brand in the United States, already surpassing 1.3B impressions on social media in its first 10 months,\u201d concluded the operator. \u201cBetr\u00a0Media is focused predominantly on original and short-form content, which the Company believes will be the primary form of sports media consumption for the 21-34-year-old male demographic outside of consuming live sporting events themselves.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Sports wagering startup Betr announced it raised $35 million in a series A2 funding round. That values the privately held company at a pre-money valuation of $300 million. The latest funding round in the microbetting company was led by Roger Ehrenberg via IA Sports Ventures and Eberg Capital, and Fuel Venture Capital. With a $10 […]<\/p>\n","protected":false},"author":46,"featured_media":225603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[81903,80968],"acf":[],"yoast_head":"\nBetr Gains $35M In Funding, Now Valued At $300 Million<\/title>\n<meta name=\"description\" content=\"Betr raises $35 million in latest funding round, now valued at $300 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Betr Gains $35M In Funding, Now Valued At $300 Million\" \/>\n<meta property=\"og:description\" content=\"Betr raises $35 million in latest funding round, now valued at $300 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T19:32:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-27T19:43:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/\",\"url\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/\",\"name\":\"Betr Gains $35M In Funding, Now Valued At $300 Million\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg\",\"datePublished\":\"2023-06-27T19:32:23+00:00\",\"dateModified\":\"2023-06-27T19:43:24+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Betr raises $35 million in latest funding round, now valued at $300 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg\",\"width\":1400,\"height\":1000,\"caption\":\"Betr co-founders Joey Levy (left) and Jake Paul. The company announced a new $15 million funding round that values it at $375 million. (Image: Joey Levy\/Medium)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Betr Raises $35 Million, Now Valued at $300 Million\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Betr Gains $35M In Funding, Now Valued At $300 Million","description":"Betr raises $35 million in latest funding round, now valued at $300 million.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/","og_locale":"en_US","og_type":"article","og_title":"Betr Gains $35M In Funding, Now Valued At $300 Million","og_description":"Betr raises $35 million in latest funding round, now valued at $300 million.","og_url":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-06-27T19:32:23+00:00","article_modified_time":"2023-06-27T19:43:24+00:00","og_image":[{"width":1400,"height":1000,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/","url":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/","name":"Betr Gains $35M In Funding, Now Valued At $300 Million","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg","datePublished":"2023-06-27T19:32:23+00:00","dateModified":"2023-06-27T19:43:24+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Betr raises $35 million in latest funding round, now valued at $300 million.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg","width":1400,"height":1000,"caption":"Betr co-founders Joey Levy (left) and Jake Paul. The company announced a new $15 million funding round that values it at $375 million. (Image: Joey Levy\/Medium)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/betr-gains-35m-in-funding-now-valued-at-300-million\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Betr Raises $35 Million, Now Valued at $300 Million"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279256"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=279256"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279256\/revisions"}],"predecessor-version":[{"id":279265,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/279256\/revisions\/279265"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/225603"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=279256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=279256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=279256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}