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Jake Paul, former Walt Disney actor and current YouTube star-turned-boxer, has launched micro-betting sports platform Betr alongside Joey Levy, founder of Simplebet, after rasing $30 million in a Series A funding round with investments from rapper Travis Scott andpro football players Ezekiel Elliott, Richard Sherman and Dez Bryant.
The Series A round was followed up by a Series A1 round in which an additional $20 million was raised.
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The app's main goal is to simplify the process of sports betting by allowing users to predict the results of every sporting event's individual moments, such as pitches and at-bats in Major League Baseball games and every play and drive in all National Football League games.
The app is available for free download; users are supplied gambling coins that can be redeemed for actual prizes if bets are won.
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While the company's app presently does not support the use of real money, it has applied for an Ohio betting license and announced a partnership with Hall of Fame Resort & Entertainment Co (NASDAQ:HOFV) that will allow it to launch the cash-based version once the state has given its approval.
The coins that users can spend on a whim in the app is reflective of Paul, who has been known to place public bets on fighters that he intends to get into the ring with.
After a successful year both inside and outside the ring, he disclosed his net worth in excess of $100 million in an interview with Fox Business.
He reportedly earned $40 million in 2021 after twice defeating Tyron Woodley and Ben Askren.
After defeating Askren, Paul earned an estimated $10 million. He next competed against Woodley on Showtime pay-per-view, earning an estimated $15 million.
Follwing the Askren fight, a bout with Tommy Fury fell through. Paul fought Woodley again. Paul defeated Woodley in the rematch, earning him an additional $15 million.
The former YouTube star said that he also profited from trading NFTs and cryptocurrencies.
Courtesy photo.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.