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Jake Paul Raises $50 Million To Launch Sports Betting Company

When thinking about the concept of a sports betting app designed for Generation Z, it comes as no surprise that none other than the Vine star turned Youtube star turned Disney star turned professional boxer, Jake Paul, has officially launched a company with this exact platform in mind. What Paul has called “the TikTok-ification of sports betting,” the new app ‘Betr’ will focus on micro-betting, which Fight Sports defined as “betting that occurs during the event on things that could happen or are about to happen,” making it more enticing for the younger generation due to the ability to bet while watching the game, in a lower-stakes situation.

Jake Paul’s co-founder, Joey Levy, previously worked for and founded another betting company, making him the perfect business partner for Paul, who will focus more on the sports and media side of the app. While Jake Paul’s various ventures over the years have definitely funded his extravagant lifestyle, Paul and Levy still raised $50 million to create their startup company, with Variety Magazine revealing that some of the investors include “Travis Scott, Ezekiel Elliott, Richard Sherman, Dez Bryant and DeSean Jackson.”

The primary goal behind the creation of Betr is to increase the enjoyment of sports and add a level of excitement to each game, as fans can make small bets play-by-play as they watch the match live. Jake, who is 25 years old himself, told MMA News how if “you think about sport show hosts, none of them are under the age of 40 and sports betting is this old sort of archaic, outdated, not fun thing right now. Our company and app is going to take that over and make the product way more intuitive and way more fun for people to use.” In addition to the betting portion of the app, Paul shared how he will host his own sports show called “BS with Jake Paul” that is only accessible through this platform, and will showcase interviews with athletes and celebrities, with the overarching desire of this company to answer the question “what if ESPN was started today? That’s what we’re trying to build and to reach the audience where they’re at.”

While the app is not launched quite yet, anxious fans can visit their website here to receive early access. 


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