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The partnership is between Caesars Southern Indiana, Betr and EBCI Holdings, the Eastern Band of Cherokee Indians’ gaming entity.
Subject to regulatory approval, the agreement will bring market access and licensing to Indiana.
Betr now plans to launch real money micro-betting in the state in the near future. The agreement is predominantly equity-based, meaning EBCI becomes one of Betr’s largest shareholders.
“We are thrilled to be working with Caesars Southern Indiana and EBCI Holdings to bring Betr to the Hoosier state,” said Betr Founder and CEO Joey Levy.
“Market access is one of the primary expenses that comes with launching a regulated sports betting business in the US, so we have been focused on aligning ourselves with partners who buy into our vision and are willing to take equity in lieu of cash for access.
“We are thrilled to announce this partnership and we are grateful for the opportunity to undergo the licensing process with the Indiana Gaming Commission.”
The partnership follows Betr’s recent equity-focused deal with the Hall of Fame Resort & Entertainment Company for market access in the state of Ohio.
Caesars Southern Indiana General Manager Brad Seigel commented: “Our partnership with Betr will deliver a fresh, dynamic new way of betting to thousands of sports fans in our area. It’s a thrilling new way to engage with live sports.
“With Betr’s micro-betting focus combined with Betr’s smart take on sports media led by boxing star Jake Paul, we believe Betr will be a fun new option for sports fans throughout Indiana and will appeal to mass market consumers.”
Social media personality Paul confirmed the launch of Betr in August this year.
