Jake Paul, sports betting veteran Joey Levy raise $50M for sports media and gambling venture

Jake Paul, sports betting veteran Joey Levy raise $50M for sports media and gambling venture

Article brief provided by The Hollywood Reporter
  • Alex Weprin, The Hollywood Reporter
August 8, 2022 6:58 PM
  • Alex Weprin, The Hollywood Reporter

Social media personality and Disney Channel star turned professional boxer Jake Paul is getting back into the media business, and he’s doing it with a sports betting twist.

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Paul and business partner Joey Levy have raised $50 million to launch a new media and micro-betting company called Betr, with plans to develop sports media properties and eventually build out a sports betting business built around the so-called micro-bets (instead of betting on the outcome of a game, think betting on the outcome of the next pitch, or the next play).

“Micro-betting is the TikTok-ification of sports betting and I am excited to bring it to the masses through Betr,” Paul said in a statement.