Fundraising FoxBetr
Miami, US · Founded 2021 · 24 known investors
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Betr is a real money gaming mobile app offering player-stat pick games, a social sportsbook, a social casino, and skill-based arcade games where users can win cash prizes. It targets consumer sports and casino gamers and plans to add a sports predictions product.
Also known as Betr · Betr Holdings Inc. · betr.app
Founders & leadership
Betr was founded in 2021 by Jake Paul and Joey Levy.
Board
Investors · 24
How we know: 305 Ventures's portfolio page · a partner's Signal profile · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Aliya Capital Partners's portfolio page · research · prnewswire.com · Not right? Tell us
How we know: Beaconsfield Capital's portfolio page · Not right? Tell us
How we know: Elizabeth Street Ventures's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Florida Funders's portfolio page · the VCSheet dataset · research · prnewswire.com · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Fuel Venture Capital's portfolio page · a partner's Signal profile · board seat on SEC Form D · funding news · press coverage · research · prnewswire.com · Not right? Tell us
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How we know: Game Changers Ventures's portfolio page · board seat on SEC Form D · Not right? Tell us
How we know: Grit Capital Partners's portfolio page · Not right? Tell us
How we know: the VCSheet dataset · Not right? Tell us
How we know: K5 Global's portfolio page · the VCSheet dataset · Not right? Tell us
How we know: funding news · venturecapital.com · Not right? Tell us
Also in the syndicate · 4
Funding
SEC filings, press & company announcements$120.4M disclosed across 4 of 5 rounds · 2022–2024
- $15MStrategic equity financingMar 2024 · 3 sources
10x Capital (lead), Harmony Partners (lead), Aliya Capital Partners, Fuel Venture Capital, Roger Ehrenberg / Eberg Capital
Source ↗
▶$50.7MraisedJun 2024 · 92 investors · Other TechnologyRule 506(b)
- Greg ElinskyDirector
- Nakisa BidarianDirector
- Ross KestinDirector
- Saxon BaumDirector
- Roger EhrenbergDirector
- Joey LevyExecutive Officer, Director
- Scott MarshallDirector
- Geoffrey WooDirector
- Jeff RansdellDirector
- Pat RamseyDirector
- Offering amount
- $57.7M
- Amount sold
- $50.7M
- First sale
- May 2023
- Incorporated
- Corporation, Delaware, 2021
- Federal exemptions
- 06b
▶$23.4MraisedNov 2022 · 49 investors · Other TechnologyRule 506(b)
- Jake PaulExecutive Officer, Director
- Ross KestinDirector
- Nakisa BidarianDirector
- Jeff RansdellDirector
- Saxon BaumDirector
- Geoffrey WooDirector
- Joey LevyExecutive Officer, Director
- Greg ElinskyDirector
- Offering amount
- $26.5M
- Amount sold
- $23.4M
- First sale
- Oct 2022
- Incorporated
- Corporation, Delaware, 2021
- Federal exemptions
- 06b
▶$31.3MraisedNov 2022 · 100 investors · Other TechnologyRule 506(b)
- Greg ElinskyDirector
- Jake PaulExecutive Officer, Director
- Ross KestinDirector
- Jeff RansdellDirector
- Nakisa BidarianDirector
- Joey LevyExecutive Officer, Director
- Saxon BaumDirector
- Geoffrey WooDirector
- Offering amount
- $31.3M
- Amount sold
- $31.3M
- First sale
- Jan 2022
- Incorporated
- Corporation, Delaware, 2021
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Betr is a mobile real money gaming application that combines several consumer gaming formats in a single app. Its core products are Picks, a fantasy pick'em game in which users select more or less on individual player statistics with advertised payouts of up to 10,000x the entry; a social sportsbook for making picks on games across multiple leagues; a social casino offering slots and table games whose play can be redeemed for real cash prizes; and an Arcade product in which users play mobile skill games for real cash against other players. The company describes the combined offering as a real money gaming "super app."
A Predictions product, described as allowing users to make predictions on sports and other subjects, is listed on the company website as coming soon. Betr also publishes responsible-gaming material, including the National Council on Problem Gambling helpline, and states a minimum age of 18 to open an account and play its real money gaming products. Availability of Picks, Sportsbook, Casino and Arcade varies by jurisdiction, and the site directs users to a location-based availability page.
Business model
Betr operates a consumer mobile application through which users pay to enter real money gaming products, including fantasy pick'em entries, social sportsbook picks, social casino play redeemable for cash prizes, and paid skill-based arcade matches against other players. User acquisition is supported by promotional offers such as a "No Sweat Entries" new-user offer of up to $200, under which a user can build two lineups of up to $100 each and receive the entry back if the lineups do not win. The company also references a partners program.
Revenue is generated from paid user entries and play across Betr's fantasy pick'em, social sportsbook, social casino and arcade products.
Traction
The company's website states that more than $1 billion has been paid out to players on Betr.
▸Full profile — market position, go-to-market, geography
Market position
Betr presents itself as the first real money gaming super app, spanning fantasy pick'em, social sportsbook, social casino and skill-based arcade products.
Betr positions itself as a single application bundling fantasy pick'em, social sportsbook, social casino and skill-based arcade gaming, rather than offering these formats as separate products, and advertises payout multiples of up to 10,000x on its Picks game.
Go-to-market
Direct-to-consumer distribution via a mobile app, supported by promotional new-user offers, referral and sharing prompts, email capture for bonuses, a partners program, and press placements referenced in a "Featured in" section of the website.
Consumers aged 18 and over in jurisdictions where its products are available, including sports fans playing player-stat pick games and sportsbook picks, and casino and mobile-game players.
Geography
The company's website lists Miami, Florida in its copyright notice. Product availability is presented as varying by location across Picks, Sportsbook, Casino and Arcade, and its responsible-gaming resources reference help lines covering all 50 U.S. states, Canada and the U.S. Virgin Islands.
Compiled by commissioned research from 9 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 20
launches, deals, and filingsAlex Ursa promoted to Chief Operating Officer, Alex Kuwada to Chief Marketing Officer and Mike Denevi to Chief Content Officer.
Betr hedged a 10,000,000 free spins promotion and a $1.776M World Cup payout promotion with a Polymarket position on Team USA.
Betr acquired Ascent Capital Management Inc., an introducing broker registered since 2011, securing NFA and CFTC registration and becoming a CFTC-registered introducing broker to support the launch of Polymarket-powered prediction markets.
Betr announced plans to launch prediction markets powered by Polymarket within its app.
The Ball brothers became equity partners and brought a re-branded podcast to the platform for NBA tip-off week.
Betr announced a revamp of its daily fantasy pick 'em product with industry-highest 10,000x payouts, a free $10 play, and the launch of Betr Arcade.
Betr added viral internet personality Haliey Welch with the Talk Tuah podcast, which reached #2 on Spotify in the weeks after launch.
Betr launched a peer-to-peer product for Betr Picks and soft launched its new sportsbook, which includes same game parlays, SGP+, player props, futures, exotics, micro-markets and traditional markets across pre-match and in-play.
Betr surpassed DraftKings and FanDuel in TikTok following.
Co-led by Harmony Partners and 10x Capital with participation from Fuel Venture Capital, Aliya Capital Partners and Roger Ehrenberg/Eberg Capital, bringing total funding to $100M.
$15M source ↗
Dan Maas joined from Wave Sports & Entertainment as Head of Media Revenue, Partnerships and Strategy; Andrew Winchell joined from FanDuel, where he was Director of Regulatory Affairs, as Head of Government Affairs.
Betr received a temporary sports wagering license from the Indiana Gaming Commission; the company also disclosed sportsbook market access in Pennsylvania, Ohio, Virginia, Indiana, Colorado and Kentucky, and iGaming market access in Pennsylvania.
Betr announced new market access deals for online sportsbook and iGaming.
Virginia became Betr's third real-money online sports betting market.
Betr introduced Betr Picks, a pick 'em style fantasy game, across the United States to complement its existing products.
Round co-led by Roger Ehrenberg via IA Sports Ventures and Eberg Capital and by Fuel Venture Capital, which increased its total investment from $10M to $20M. Initial closings held in Q2 2023 with a final closing scheduled in Q3.
$35M source ↗
Betr acquired the Chameleon platform from FansUnite (TSX: FANS) to launch V1 of its online sportsbook with full sportsbook capabilities and to support two additional real money gaming verticals.
Betr Media won Best Sports Betting Content at the 2023 Hashtag Sports Awards and was nominated for Best Original Content (BS w/ Jake Paul) and Best Use of Gamification (Betr Ticket). It won the same category again in 2024, with nominations for Best Athlete Podcast, Best Advertisement and Best Short Form Video.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structure▸Research sources · 9
primary sources listed
- Bijusbetr.app · web
- BETR ADDS $15 MILLION IN STRATEGIC EQUITY FINANCING TO FURTHER ACCELERATE ITS SPORTS GAMING AND MEDIA BUSINESSESprnewswire.com · web
9 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Betr do?
- Betr is a mobile real money gaming app combining fantasy pick'em, a social sportsbook, a social casino and skill-based arcade games.
- Who founded Betr?
- Betr was founded by Jake Paul, Joey Levy in 2021.
- Who are Betr's investors?
- Betr's investors include 305 Ventures, Aliya Capital Partners, Anti, Beaconsfield Capital, Elizabeth Street Ventures, FJ Labs, Florida Funders, Flucas Ventures and 12 more.
- How much funding has Betr raised?
- Betr has disclosed $120.4M raised across 4 of its 5 known rounds.
- Where is Betr headquartered?
- Betr is headquartered in Miami, US.