In addition, Paul, alongside B2B technology company Simplebet Co-Founder Joey Levy, is launching a new media company for “the next generation of sports fans.”
Betr will focus on micro-betting, a form of wagering where players can bet on small, specific moments in games – such as football plays and drives or baseball pitches and at-bats.
Simplebet, which worked to develop the necessary machine learning and automation required for micro-betting, will power Betr, with an initial free-to-play app launch expected in the coming weeks.
Furthermore, Betr has disclosed that it has signed a number of strategic partnerships, details of which will be revealed “in the near future.”
Betr Founder and President Paul said: “Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr. We are in this for the long haul and are focused on doing things the right way.
We are getting licensed state-by-state, adhering to each state’s regulatory framework while advocating for important consumer protections and responsible gambling. We want to be the category-defining consumer company in both sports betting and sports media by the end of the decade and are confident we will achieve that goal.”
Miami-based Betr has raised $50m in funding from a range of investors, including Florida Funders, 8vc, Aliya Capital Partners and Fuel Venture Capital. The company closed a $30m Series A led by Florida Funders this year, in what was described as the largest investment in Florida Funders history. The Series A was oversubscribed, resulting in the company raising an additional $20m Series A1 led by Aliya Capital Partners and Fuel Venture Capital.
Betr has appointed Alex Ursa from FanDuel as Head of Product and Mike Denevi from Bleacher Report as Head of Media.
