Betr CEO: We were prepared for Simplebet’s sale to DraftKings
Joey Levy says operator has expanded out of micro-betting niche with Chameleon-powered tech stack and Huddle license as firm gears up for 2024 NFL season with V1 sportsbook
Betr co-founder Joey Levy has said the micro-betting operator is prepared for the future after DraftKings agreed to acquire Simplebet.
DraftKings struck a deal to snap up the supplier last week, which will bring Simplebet’s micro-betting capabilities entirely in-house, should the deal complete.
Betr was one of Simplebet’s primary users, with Levy also having co-founded Simplebet alongside Scott Marshall and Chris Bevilacqua in 2018.
Simplebet also has partnerships with bet365, Hard Rock Digital, PENN Entertainment, and Caesars Sportsbook, among others.
If DraftKings’ acquisition of the firm goes ahead, it is expected that these third-party relationships would eventually be phased out.
Taking to LinkedIn to remark on the sale, Levy said Simplebet had “pioneered micro-betting as a new category of real-money gaming; ultimately changing this industry and sports consumption forever.”
After Simplebet, Levy went on to co-found Betr with social media star Jake Paul in 2022, with a USP of being a micro-betting operator that blended an extensive media portfolio into its brand.
Betr has since expanded into the DFS sector with its Betr Picks brand and unveiled the upgraded version of its sportsbook last week ahead of the 2024 NFL season.
The new sportsbook was built on Chameleon, which Betr acquired from FansUnite last year, with Levy noting the operator had planned for Simplebet’s eventual sale.
He said: “We acquired the Chameleon platform in May 2023 and the Huddle IP in August 2024, which eliminated our dependency on Simplebet, expanded our capabilities well beyond just micro-betting, and enabled us to fully vertically integrate our product and technology.
“We also recouped a significant amount of Betr stock from Simplebet as well as eliminated certain cash commitments to Simplebet as part of an amicable separation ahead of the DraftKings transaction.
“I am happy to close the Simplebet chapter on this note. Contrary to what many in this industry believe, I think we are still in the early innings of demonstrating what is possible from both a product and marketing standpoint in the sports gaming industry in the US, and I am excited to prove that with Betr.”
Betr’s V1 sportsbook has gone live in Ohio and Virginia, with plans to expand into Maryland and Indiana also confirmed.
Market-access deals for Pennsylvania, Colorado, and Kentucky have also been secured, with potential for further penetration in the future.