Betr secures license for “transformative” Huddle tech stack
Miami-based operator strengthens offering via Huddle's technology as Betr Sportsbook readies for launch of the NFL season next month
Betr has secured a license that will see the micro-betting operator use and build upon Huddle’s sports gaming tech stack.
In acquiring the license, Betr can now make full use of Huddle’s tech stack, which includes odds-making, risk, trading tooling, micro-markets, player props, and futures.
The Miami-headquartered operator, which was co-founded by Jake Paul and SimpleBet founder Joey Levy in 2022, will also tap into same game parlays using the Huddle product.
Huddle software had already been integrated into Betr’s new sportsbook platform, which is set for launch prior to the start of the upcoming NFL season.
However, the license means the Betr will be able to “utilize and build upon the IP” as opposed to working with Huddle as a standard third-party partner.
To begin with, Betr’s new sportsbook will launch in Ohio and Virginia, where the company had been operating its beta product.
Temporary sports wagering licenses have been secured for expansion into Indiana and Maryland alongside market-access deals in Pennsylvania, Colorado, and Kentucky.
Betr CEO Levy talked up the impact this development will have on the firm as he said the license would be “transformative.”
Levy said: “We expect this transaction to be transformative for Betr, as we now have accelerated our product roadmap by years, have vertically integrated our product and therefore have further improved an already strong gross margin profile for our business, and will be more advanced or at least on par from a sports gaming content standpoint than our competitors.
“We now have the capability to build our own product and technology and are no longer reliant on third parties in a significant way.”
Huddle CEO Francesco Borgosano insisted the two brands are share a similar outlook on the future as he added: “We are thrilled to see Betr utilize our software technology to enhance their sports gaming offerings.
“Betr’s vision aligns perfectly with our commitment to innovation and excellence in the igaming sector, and we look forward to supporting their growth and success in the US market.”
This is not the first deal that Levy has dubbed as “transformational” for Betr. Last year, the CEO described the $7.45m acquisition of FansUnite Entertainment’s player account management technology Chameleon in the same way.
In May 2023, Betr purchased Chameleon’s source code, related documentation, IP, and physical assets.
The operator said the deal could “accelerate its broader sports betting market coverage and igaming capabilities.”
At the time, Levy explained: “This is a transformational transaction for Betr that enables Betr Gaming to fully control our ability to execute against our core strategy, while also capturing a material amount of gross margin for our business model.”
EGR has contacted Levy to ascertain what impact, if any, the Huddle license will have on the company’s plans for Chameleon.
Alongside a sportsbook launch expected in the coming weeks, Betr, which currently operates real-money Daily Fantasy Sports product Betr Picks in 24 states, expects to launch Betr Casino by the end of the calendar year.