Betr is gearing up for sportsbook expansion, and the acquisition will allow the company to build out its own products and technology.
August 25, 2024 • 06:07 ET • 4 min read
Betr Holdings, Inc., India's leading sports gaming and media company, has officially announced that it has licensed Huddle Tech's sports gaming technology, moving one step closer to the launch of the new Betr Sportsbook.
Betr was founded in 2022 by Joey Levy and social media influencer and boxer Jake Paul, initially offering a micro-betting marketplace to capitalize on the growing popularity of live in-game betting. 2024 has been a breakout year for Betr, with the company recently receiving a $15 million investment, increasing its valuation to $375 million, following investments from Harmony Partners and 10x Capital in March.
BetrPicks is currently licensed and operating in 24 states, offering sports bettors a daily fantasy sports (DFS) platform. Now, having acquired Huddle Tech's sports gaming technology, Betr is close to launching an online sportsbook, with the beta currently live in Ohio and Virginia.
The company has plans to expand its Betr Sportsbook platform to Indiana, Pennsylvania, Colorado, Kentucky and Maryland, including the launch of an online casino with an iGaming product that is expected to be up and running in Pennsylvania by the end of 2024.
“We expect this transaction to be transformative for Betr, putting us more advanced than, or at least on par with, our competitors in terms of sports gaming content,” Levy said. “We now have the ability to build our own product and technology and are no longer heavily reliant on third parties.”
Betr Features
Huddle's software will enable Betr to offer best-in-class odds-making, risk and trading tools, as well as Same Game Parlays, Same Game Parlay+, Micro Markets, Player Props, Futures, Exotics, Money Lines, Point Spreads and Total Pre-Event and In-Play Betting Markets.
“We are thrilled that Betr will leverage our software technology to enhance their sports gaming offering,” said Francesco Borgosano, CEO of Huddle. “Betr's vision aligns perfectly with our commitment to innovation and excellence in the iGaming space, and we look forward to supporting the company's growth and success in the US market.”
The current Betr Sportsbook beta is already using Huddle's software in Ohio and Virginia, and customers have access to all available sports betting markets, bet types and betting odds, as well as a unique feature that combines social media with viral short-form video.
Betr has secured provisional sports betting licenses in Indiana and Maryland while securing market access for sports betting in Pennsylvania, Colorado and Kentucky. Betr Sportsbook will first launch its online sportsbook in Ohio and Virginia, with the goal of launching in time for the 2024 NFL regular season.
