EXCLUSIVE: Jake Paul Says Sports Betting Firms Made Mistakes As 'Pioneers' - And Betr Is 'Coming In As The Buccaneers'

Betr co-founders Jake Paul and Joey Levy discussed how their company has learned from the competition to create a better product and use their money wisely to attract customers and control their technology.

What Happened: Paul and Levy launched Betr with the goal of simplifying the process of live sports betting and predicting results.

The company operates with a sports media division, online sports betting and online casino divisions.

Levy and Paul will be featured in a keynote at the Benzinga Sports Betting Titans virtual event on May 24. Among the topics the two will discuss is how they’re taking on competition.

“We’re learning from all these other big company’s mistakes,” Paul told Benzinga. “They were like the pioneers. We’re coming in as the buccaneers.”

Related Link: Jake Paul And Joey Levy's Betr Sports Betting Company Acquires Chameleon, Continues Push For Direct-To-Consumer Platform 

Paul talked about how Betr's assembled team is spearheading the company's expansion and effectively dealing with competition.

“The team is so strong all the way through. We just have so many amazing people. That’s why I believe in this company so much.”

Paul said everyone is super hungry, and he believes Betr has assembled a stellar team of employees.

Along with a dream team of people, Betr could also have a dream team in its technology.

Levy touched on the recent announcement about Betr's acquisition of the Chameleon platform. The company will invest $7.5 million in this purchase, with a part of it being funded through Betr's equity.

Levy shared that competitors like DraftKings Inc DKNG and others acquired technology platforms for significantly more. DraftKings acquired SBTech as part of its merger with SPAC Diamond Eagle Acquisition in a deal to go public, paying hundreds of millions of dollars for the technology stack to power its sports betting. 

Levy said the deal will help Betr be able to do similar things at a fraction of the cost. 

Why It’s Important: Levy and Paul explained to Benzinga the necessity of a platform like Betr in today's market. Despite its current underdog status and smaller size compared to several sports betting giants, they highlighted Betr's notable growth.

The two founders pointed to the huge acquisition costs of competitors compared to the increasing organic reach that Betr has thanks to Paul’s massive following on social media and bringing on talent like the Cavinder twins.

To hear more about Betr and the growth of microbetting, join the Benzinga Sports Betting Titans virtual event on May 24 where Levy and Paul will be featured.

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