Jake Paul's Sports Betting Co. Betr Inks Hotel Deal, Days After Launch

Shivani Kumaresan
1 min read
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  • Hall Of Fame Resort & Entertainment Co (NASDAQ: HOFV) has entered into a 10-year agreement with Betr to become its official mobile sports-betting partner.

  • A few days back, sports betting veteran Joey Levy and media mogul Jake Paul revealed the creation of Betr, a micro-betting-focused sports betting company. Betr has raised $50 million in funding.

  • Betr has also launched a new media venture, highlighted by Paul's weekly show with top athletes.

  • As part of the agreement, HOFV will gain limited equity interest in Betr and revenue sharing.

  • The partnership will also provide opportunities for cross-marketing, branding, and engagement with consumers of both companies.

  • HOFV CEO Michael Crawford said, "Betr positions our company to obtain the necessary licenses to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders."

  • Betr CEO Joey Levy stated, "We are excited to partner with HOFV on launching the world's first micro-betting focused app in Ohio."

  • HOFV's agreement with Betr replaces the previously announced agreement with Genesis Global, Ltd.

  • Betr mobile partnership, coupled with the previously announced partnership with Rush Street Interactive, Inc. (NYSE: RSI), will enable visitors to place bets digitally anywhere in Ohio, in addition to the sports betting retail location that RSI will be opening in the Fan Engagement Zone.

  • Related: Rush Street Interactive To Operate Retail Sportsbook At The Hall Of Fame Village In Ohio

  • Price Action: HOFV shares are trading higher by 3.43% at $1.06 on the last check Thursday.

  • Photo Via Company

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