Author: Dean Carr
Last Updated: August 12, 2022
After announcing $50 million in funding earlier this week, Betr have now announced their first official partnership with Hall of Fame Resort & Entertainment (HOFRECO).
HOFRECO, the only resort, entertainment and media company centred around professional football, has entered into a 10-year agreement with Betr to become their official sports betting partner.
Betr has been founded by Joey Levy and Jake Paul, who will run operations within the sports betting and media departments respectively. Levy is a veteran of the sports betting game having co-founded technology industry leader Simplebet, who will also power Betr.
The new operator are set to specialize in micro-betting, which allows users to place wagers on individual moments throughout events that do not rely on the final outcome of the event itself.
Michael Crawford, HOFRECO President and CEO, said: “This partnership amplifies two of our key business verticals in gaming and media to further our strategic goal of continually creating new and unique sports content and experiences for our fans and guests to enjoy.
“Betr positions our company to obtain the necessary licenses to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders.”
“We are excited to partner with HOFV on launching the world’s first micro-betting focused app in Ohio,” added Betr CEO Joey Levy. “Our differentiated product, combined with our sports media company built for the next generation of sports fans along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country makes us confident this will be a successful partnership.
“We are also pleased HOFV has taken an equity position in Betr as part of this agreement – enabling us to preserve cash while providing HOFV upside in Betr’s success.
“We are grateful for HOFV’s belief in our company’s vision and are looking forward to introducing something different to this industry with them while creating value for all of our shareholders.”
Betr is the latest in a line of online sportsbooks that will now look to launch in the growing number of states that have legalized sports betting.