Sports betting company Betr announced a new funding round Tuesday to continue its push in the sector. The new funding round comes after Betr was recently named an award recipient at the inaugural Betr Titans Sports Betting event.

The new funding round is led by Roger Ehrenberg via IA Sports Ventures and Eberg Capital and Fuel Venture Capital. Betr co-founders Joey Levy and Jake Paul also invested in the company in the new round via a personal investment and the Anti Fund, respectively.

Existing investors FinSight Ventures, Florida Funders and Aliya Capital Partners also invested in the round. Fuel Venture Capital Founding Partner Jeff Ransdell also praised the connection to the consumer through gaming and media offerings.

Betr Gaming offers micro betting, allowing users to bet on individual plays during sports contests. Betr Gaming is live in Ohio and Massachusetts, with plans to launch in Virginia soon. The company has access rights to Indiana and other markets the company said will be announced soon.

It certainly would bring in additional questioning and may affect suitability. That may be a reason why Jake Paul was removed. Betr CEO Joey Levy did not respond to an email from the WCPO 9 I-Team that requested information about its Ohio strategy and interviews with Levy and Paul, as co-founders of the company.

Asked to explain its decision, the Ohio Gaming Control Commission provided a statement that includes:. Based on this information from Betr, the commission determined Mr. Paul no longer was required to obtain a sports gaming key employee license, as defined in Ohio law.

Betr has an ongoing responsibility to remain suitable for licensure as do all licensees — we are regularly in contact with them on compliance, licensing and other matters. In addition to low market share, Betr has been criticized for its use of social media to attract bettors. The company said it has rigorous policies to prevent underage betting and deposit limits on bettors aged 21 to Messenger said such criticism is an argument against letting Betr compete in Ohio without requiring Paul to be licensed.

But we do have to be conscious that Jake Paul appeals to a younger demographic. And the question for regulators in Ohio and elsewhere is whether Jake Paul is really appealing to those under the legal age to engage in gambling activities.

By Andrew Cohen. Rich Storry-USA TODAY Sports. Link Copied. What to Read. by Eric Fisher. American Gaming Association reports record wagering totals for last year. by Alex Schiffer.

Behind the scenes, a relationship was being forged for decades. Front Office Sports Today. Featured Today. February 28, February 26, A cooling market and Fanatics autograph deal leaves big-money collectors waiting.

Jake Paul and Miami Marlins co-owner Roger Ehrenberg are investors in Betr, which has a pre-money valuation of $ million K Likes, Comments. TikTok video from Betr (@betr): M CINCINNATI — Jake Paul is still an owner and co-founder of the online sportsbook known as Betr. But in the eyes of Ohio gaming regulators

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Betr jake paul - "Jake Paul, the YouTube star-turned-boxer, has raised $50 million alongside sports betting entrepreneur Joey Levy to launch a new company called Betr. The Jake Paul and Miami Marlins co-owner Roger Ehrenberg are investors in Betr, which has a pre-money valuation of $ million K Likes, Comments. TikTok video from Betr (@betr): M CINCINNATI — Jake Paul is still an owner and co-founder of the online sportsbook known as Betr. But in the eyes of Ohio gaming regulators

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Betr has an ongoing responsibility to remain suitable for licensure as do all licensees — we are regularly in contact with them on compliance, licensing and other matters. In addition to low market share, Betr has been criticized for its use of social media to attract bettors.

The company said it has rigorous policies to prevent underage betting and deposit limits on bettors aged 21 to Messenger said such criticism is an argument against letting Betr compete in Ohio without requiring Paul to be licensed.

But we do have to be conscious that Jake Paul appeals to a younger demographic. And the question for regulators in Ohio and elsewhere is whether Jake Paul is really appealing to those under the legal age to engage in gambling activities. An Oct. I founded this company.

I built it from the ground up with our CEO Joey Levy. Betr was awarded a temporary license in February and is currently undergoing a full suitability review in Massachusetts. But an April filing with the state of Florida listed Paul as a director and vice president.

It describes Paul as a founder and executive with the company. January 29, Corporate parent of sports betting leader hits the U.

stock market. January 30, January 24, What are players—both in the game, and just visiting—allowed to do? December 8, Flutter Entertainment looks to expand U. presence with stock listing. November 21, Sports wagering activity accelerating to unprecedented levels.

November 20, High-profile Formula 1 event proves to be popular with bettors.

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