According to cbsnews.com, the YouTuber turned boxer, Jake Paul has just secured $50 million in venture capital to launch a sports gambling platform called Betr, that will focus on two businesses, micro-betting and producing original sports content. With micro-bets fans wager on things that will occur or not during the game, rather than betting on the winning team, or final outcome. In a statement Paul said, “I wasn’t into sports betting until I was introduced to micro-betting, Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr.” Betr has financial backing from the co-owners of both the Boston Celtics and Miami Marlins as well as, NFL players Ezekial Elliot and DeSean Jackson as well as other more traditional venture capital funds. As states where sports betting is now legal see million in tax revenue, Betr is looking to maximize their revenue off of the thirty states in an already crowded marketplace that features companies such as DraftKings, FanDuel and Caesars Sportsbook.
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Jake Paul Launching a Sports Micro-Betting Business
