One of the fastest growing companies in sports betting is getting ready to expand.
What’s happening:
- Sports betting startup Betr has raised $15M USD in a new equity financing with strategic partners
- The round was led by Harmony Partners and 10x Capital
Why it matters:
- Sports betting has become a growing area of opportunity in both venture capital and the public markets with Flutter (NYSE: FLUT) recently going public
- Flutter is the parent company of popular betting platform FanDuel and one of the largest competitors to DraftKings (NASDAQ: DKNG)
By the numbers:
- Since inception, Betr has raised a total of $100M USD in venture capital funding
- Betr’s flagship betting product known as Daily Fantasy Sports is currently available in 24 different states
Going deeper:
- Betr was co-founded by Jake Paul and Joe Levy and has quickly become one of the fastest growing companies in all of gambling
- Ohio, Virgina, Colorado and Kentucky have all recently given Betr regulatory approval to launch their betting platform to individuals within their respective states
The intrigue:
- Betr has publicly announced that they plan to roll out a new casino product, pending regulatory approval in the United States
