Betr inks market access with Caesars to go live in Indiana
Joey Levy and Jake Paul-backed micro-betting app set to go live in the Hoosier State following agreement
Betr has signed a new deal with Caesars Southern Indiana, which will see the latter become the micro-betting app’s new regional partner and give Betr market access in Indiana.
The deal is subject to regulatory approval and is between Betr, Caesars Southern Indiana, and the Eastern Band of Cherokee Indians’ (EBCI) gaming entity, EBCI Holdings, and will allow Betr to enter the state of Indiana.
Betr, which is backed by Simplebet co-founder Joey Levy and social media influencer Jake Paul, plans to launch real-money micro-betting in the Hoosier State in the coming months.
The partnership is mainly equity-based meaning EBCI Holdings will become one of Betr’s largest shareholders.
Caesars Southern Indiana is owned by EBCI Holdings, the commercial gaming and hospitality arm of the Eastern Band of Cherokee Indians, which went to Betr to broker the deal.
On the deal, Levy said: “We are thrilled to be working with Caesars Southern Indiana and EBCI Holdings to bring Betr to the Hoosier State.
“Market access is one of the primary expenses that comes with launching a regulated sports betting business in the US, so we have been focused on aligning ourselves with partners who buy into our vision and are willing to take equity in lieu of cash for access.”
Brad Seigel, general manager of Caesars Southern Indiana, added: “Our partnership with Betr will deliver a fresh, dynamic new way of betting to thousands of sports fans in our area. It’s a thrilling new way to engage with live sports.”
“With Betr’s micro-betting focus combined with Betr’s smart take on sports media led by boxing star Jake Paul, we believe Betr will be a fun new option for sports fans throughout Indiana and will appeal to mass-market consumers.”
This deal follows Betr’s recent agreement with the Hall of Fame Resort & Entertainment Company to gain entry into the Ohio market.
Elsewhere, Betr announced at G2E in Las Vegas that it will ban users from funding their accounts with credit cards and claims to be the first US operator to do so.
The startup also announced that it would enforce deposit limits for users between the ages of 21 and 25 as part of its responsible gambling drive.
Also, Levy recently spoke to EGR as part of a three-part special on fledgling businesses looking to disrupt the sector.