Betr Rides Founder Jake Paul’s Brand Recognition to $375M Valuation
Additional Investment Has Betr's Value Skyrocketing

Everything that notorious influencer (and semi-professional boxer) Jake Paul seems to turn to gold including his sportsbook startup, Betr.
Thanks to a new $15 million investment this week from Harmony Partners and 10x Capital, Betr is now valued at $375 million which is incredibly impressive considering that the company was founded just two years ago.
With the quick rise of legalized sports betting and Jake Paul’s influence on Betr, the company has become a legitimate name in the industry.
Initially billing itself as “the world’s first micro-betting app,” Betr focused on allowing users to bet on the outcomes of each pitch (in baseball) or play (in football or basketball), for example, and receive payouts based on how close their picks were to actually happening.
Eventually, Betr expanded into offering more daily fantasy style pick’em contests where players create daily lineups in lieu of more traditional sports betting. Betr also has a sizable online content presence with sub-brands like Betr Picks and Handshake Bets and, of course, Paul himself who has 25.9 million Instagram followers.
Betr has now received funding of roughly $100 million with the $375 million valuation representing how much the company is expected to grow over the near future.
The company has a beta version of a traditional online sportsbook live in Ohio, Virginia and Massachusetts and has announced that it has secured market access in Indiana, Pennsylvania, Colorado and Kentucky.
In a January 2024 press release, Betr said it aims to launch version 1 of its finalized sportsbook before the start of the 2024 NFL season which will allow it to truly compete with the likes of DraftKings and FanDuel.
Yet Another Entrant to The Crowded Sportsbook Space
As with all aspiring competitors to the online sportsbook giants, Betr will run into an extremely competitive marketplace where there are plenty of players already.
Having Jake Paul’s influence on Betr certainly helps — his online footprint and popularity can move potential bettors over to Betr as opposed to other sites — but the fact remains that it’s very difficult not only to stand out but also to be profitable.
Betr is hoping that it can migrate the users of its daily fantasy and micro-betting products into its more conventional sportsbook. However, it’s likely that those users already have a preferred sportsbook which they do their traditional betting with.
It can be tough to get people already firmly entrenched with one sportsbook to change to another without offering the kinds of crazy first-bet promotions that can cost companies millions of dollars.
The good news for Betr is that the recent funding — and its overall war chest of investment — does give it the option to push those kind of promotional deals to try and attract new users in the states where V1 of its sportsbook will be launching.
It was major gambling news when some of the big-name sportsbooks took big losses upon initial launch but that subsided when those operators started racking up major profits in large part due to how successful those promo offers were at signing users up.
Betr Can Tie In Paul’s Stunts to Its Book
A perfect example of how Jake Paul’s influence on Betr can help Betr’s sportsbook get off to a hot start is with his much-anticipated boxing match against Mike Tyson on July 20th at AT&T Stadium, where the Dallas Cowboys play.
The match — which will be streamed on Netflix — will be an enormous ratings draw because it will attract Paul’s younger fans as well as people who just want to see Tyson box again even if is well past his prime.
Another component of that match? Betting. There will probably be tons of bets made on it and Betr is probably desperate to have the official version of its sportsbook opened up by then. If so, then Paul can easily push viewers to a Betr sportsbook promo offering risk-free bets or certain boosts.
That would be a massive boon for Betr and would provide the company with lots of air time to promote itself and puts its name on the radar in such a tough marketplace.
Granted, the sportsbook cannot survive on Paul’s publicity alone but if it able to show bettors that it has a good product that is easy to use and get them to deposit some money — at least for an initial bet or two — then it could really put its name up with the more household brands in online sports betting.
Plus, the NFL season will kick off just a month or so after the fight, providing bettors with a chance to use their expert picks with Betr and not DraftKings or FanDuel.
For Gambling news, odds analysis, and more, visit Point Spreads Sports Magazine.
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