Ultimate Odds announces completion of seed funding round
Fantasy and sports betting hybrid platform garners support from Benjie Cherniak and Seth Young among others
Ultimate Odds has announced that it has completed its seed funding round as it looks to launch its fantasy sportsbook in 2022.
Led by Philadelphia-based entrepreneurs Justin Batushansky and Jonathan Bierig, Ultimate Odds aims to combine fantasy sports and traditional sports betting lines into one platform.
Traditional fantasy positions such as quarterback or wide receiver are replaced with drafted bets and are played against an opponent.
The winner of each contest is determined by the player with the longest calculated parlay odds based on the management of their selection of bets over a day or week.
Several major industry veterans participated in the round, including former Don Best Sports MD Benjie Cherniak and ex-PointsBet chief strategy officer Seth Young.
Industry consultant and former Scientific Games VP of government affairs Quinton Singleton also participated in the funding round. Simplebet co-founder Joey Levy, via his VC fund 305 Ventures, also contributed to the round
Elsewhere, Fifth Street Gaming CEO Seth Schorr has also been named an advisor to the business.
The total raised from the funding round was undisclosed.
In a joint statement, Batushansky and Bierig said: “We are thrilled with our seed investment team.
“Our investors understand there is a shortage of standout innovative and engaging games in the market. Ultimate Odds was created to bring the fantasy sports and sports betting world closer together because the players are often one in the same,” they added.
Cherniak said: “The Ultimate Odds experience is not only highly engaging but also differentiates from the pack, presenting a true competitive gaming experience within the fantasy and sports betting space. The offering is perfectly suited to an emerging generation of sports enthusiasts.”
Young added: “I’m thrilled to be a part of the Ultimate Odds journey. The game concept is fantastic, and I love the company’s fresh approach to fan engagement.
“It’s unique, it’s compelling, it’s fun and it also addresses a unique angle in the burgeoning affiliate market in the US.”
Ultimate Odds is set to launch its new fantasy sportsbook product in 2022.