{"id":313427,"date":"2024-03-07T15:37:04","date_gmt":"2024-03-07T21:37:04","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=313427"},"modified":"2024-03-08T10:51:48","modified_gmt":"2024-03-08T16:51:48","slug":"betr-raises-15m-lifting-valuation-375-million","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/","title":{"rendered":"Jake Paul\u2019s Betr Lands $15M in Financing, Valuing Betting Firm at $375M"},"content":{"rendered":"

Betr Holdings Inc., the sports wagering startup cofounded by boxer Jake Paul, announced Wednesday that it raised another $15 million, valuing the company at $375 million.<\/p>\n

\"Levy\"
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)<\/figcaption><\/figure>\n

The latest funding round, which brought the total raised to date by Miami-based Betr to $100 million, was led by Harmony Partners and 10x Capital, with participation from existing Betr investors Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg\/Eberg Capital, among others.<\/p>\n

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,\u201d<\/strong> according to a statement. \u201cBetr has also officially received its temporary Indiana sports wagering license from the Indiana Gaming Commission in recent weeks.\u201d<\/strong><\/p><\/blockquote>\n

The funding round arrived soon after Betr announced its departure<\/a> from the Massachusetts sports wagering market.<\/p>\n

Betr Proving Adept at Raising Capital<\/h2>\n

To date, Betr has been a bit player on the domestic sports wagering stage. But in just over two years, the company has proven proficient at raising capital and attracting well-known investors.<\/p>\n

\n

Before Wednesday’s announcement, the gaming operator\u2019s last capital raise was an A2 round last June in which it garnered $35 million<\/a> at a premoney valuation of $300 million. That round 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 in Betr to $20 million.<\/p>\n<\/div>\n

Some Betr investors have previously taken stakes in entities that went on to become well-known internet firms, and 10X Capital was an early investor in DraftKings (NASDAQ: DKNG).<\/p>\n

“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, cofounder and head of Venture Capital at 10x Capital, in the statement.<\/p>\n

Other Gaming Financing News<\/h2>\n

Separately, Vancouver-based Strive Gaming, a provider of player account management analytics, raised an undisclosed sum from OpenBet. That marks the first investment by OpenBet since it was sold in 2022<\/a> by Light & Wonder (NASDAQ: LNW) to Endeavor Group Holdings, Inc. (NYSE: EDR).<\/p>\n

OpenBet now has a minority interest in Strive. Astralis Capital Management, Knutsson Holdings AB, and Betsson also participated in that funding round<\/strong>.<\/p>\n

\u201cWith the strength of Strive Gaming\u2019s PAM as a future-proofed solution for the U.S. market, combined with OpenBet\u2019s high standards, we can offer U.S. operators a fully integrated turnkey proposition that will fuel responsible betting experiences,\u201d said OpenBet CEO Jordan Levin in a statement. \u201cThis new partnership sparks a new chapter in our history.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Betr Holdings Inc., the sports wagering startup cofounded by boxer Jake Paul, announced Wednesday that it raised another $15 million, valuing the company at $375 million. The latest funding round, which brought the total raised to date by Miami-based Betr to $100 million, was led by Harmony Partners and 10x Capital, with participation from existing […]<\/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":[10,1074,16693],"tags":[81903,80968,82041],"acf":[],"yoast_head":"\nBetr Raises $15M, Lifting Valuation $375 Million<\/title>\n<meta name=\"description\" content=\"Jake Paul\u2019s Betr Lands $15M in Financing Valuing Betting Firm at $375M.\" \/>\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-raises-15m-lifting-valuation-375-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Betr Raises $15M, Lifting Valuation $375 Million\" \/>\n<meta property=\"og:description\" content=\"Jake Paul\u2019s Betr Lands $15M in Financing Valuing Betting Firm at $375M.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-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=\"2024-03-07T21:37:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-08T16:51:48+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-raises-15m-lifting-valuation-375-million\/\",\"url\":\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/\",\"name\":\"Betr Raises $15M, Lifting Valuation $375 Million\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/08\/Betr_tattoos.jpg\",\"datePublished\":\"2024-03-07T21:37:04+00:00\",\"dateModified\":\"2024-03-08T16:51:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Jake Paul\u2019s Betr Lands $15M in Financing Valuing Betting Firm at $375M.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-million\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/betr-raises-15m-lifting-valuation-375-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. 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