Leading sports betting and sports media company Betr announced a new acquisition Friday that will expand the company's presence in its media segment. The news follows a new funding round, which valued Betr at $375 million in March.
What Happened: Betr announced the acquisition of NFL podcast "Caps Off" and is bringing the show's co-hosts Adam Tabatchnick and Jack Parodi into the Betr Media family. The news comes ahead of the highly anticipated 2024 NFL Draft.
The award-winning "Caps Off" podcast has over 250,000 followers on social media. The podcast's social channels saw an average of over 100,000 views per video on TikTok and over 109 million total social media views in 2023.
By joining Betr Media, Parodi and Tabatchnik can leverage Betr's expertise during its next phase of growth and also integrate Betr into the show.
The new version of "Caps Off" will launch with Betr Media on April 22, which is days before the 2024 NFL Draft in Detroit kicks off.
With a goal of having the spirit of "Fans Being Fans," the podcast has centered on top NFL storylines, ranking players and sharing opinions about football.
"Adam and Jack's experience and creation style have natural alignment with Betr Media, particularly in our approach toward short-form, original content, and we are thrilled to integrate Caps Off into Betr as we continue to strategically grow and redefine sports media," Mike Denevi, Head of Betr Media said.
Related Link: EXCLUSIVE: How Jake Paul, Joey Levy Are Positioning Betr As The Robinhood Of Gambling Industry
Why It's Important: Co-founded by Jake Paul and Joey Levy, Betr is one of the fastest growing sports brands, launching first with an online sports betting segment and expanding to new sectors.
Betr Media is the fastest growing sports betting media brand in the U.S. with 6.7 million followers, 3 billion impressions and 162 million social media engagements since publicly launching in August 2022.
The company's real-money daily fantasy sports product Betr Picks is live in 24 states.
Betr plans on launching its V1 sportsbook product with full sportsbook capabilities ahead of the 2024 NFL season. An iGaming vertical called Betr Casino is expected to launch by the end of 2024.
Want to share your take on the 2024 NFL Draft and show off your fandom? Fill out this form to be considered for Benzinga's NFL Fans on the Clock event.
Read Next: NFL Draft 2024: Could Record Number Of Quarterbacks Be Taken In First Round?
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
