YouTuber and Boxer Jake Paul Raises $50 Million for Sports Micro-Betting & Media Startup With Joey Levy
08.08.2022 - 18:49
/ variety.com
Todd Spangler NY Digital EditorJake Paul, pugilist and popular digital influencer, is throwing his hat into the wagering world.Paul, 25, teamed with betting-industry vet Joey Levy to form Betr, billed as the first direct-to-consumer micro-betting focused sports betting company, The Miami-based startup says it has raised $50 million in funding from a long list of investors including Travis Scott, Ezekiel Elliott, Richard Sherman, Dez Bryant and DeSean Jackson.Paul and Levy also are launching a media venture “for the next generation of sports fans,” anchored by a talk show hosted by Paul, “BS w/ Jake Paul,” where he’s joined by his celebrity friends across the landscape of sports and sports betting.Paul has 70 million followers across social media, including more than 20 million subscribers for his YouTube channel. He was ranked as the No.
2 highest-earning YouTuber of 2021, pulling down $45 million in gross revenue, behind MrBeast, per Forbes estimates. Paul’s brother, Logan Paul, is also a pro boxer and digital creator who recently inked a deal to be a WWE SuperStar.
“I wasn’t into sports betting until I was introduced to micro-betting,” Paul, who is identified as the president of Betr, said in a statement. “Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr.”Betr’s platform lets users bet on specific events in sporting events, like pitches and at-bats in baseball games and plays and drives during football games.
Levy is co-founder of Simplebet, a business-to-business technology that pioneered micro-betting on U.S. sports.
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