Hall of Fame Resort & Entertainment Company announced Thursday it has entered into a 10-year agreement with Betr, which is set to become the official mobile sports-betting partner of the company. Ohio-headquartered HOFV is the owner of the Hall of Fame Village, a multi-use sports, entertainment, and media destination centered around the Pro Football Hall of Fame’s campus.
Betr, which was first unveiled last week, is founded by sports betting entrepreneur Joey Levy and media mogul Jake Paul, and describes itself as the first direct-to-consumer micro-betting focused sports betting company. The brand has also launched a new media venture “for the next generation of sports fans,” highlighted by Paul’s weekly show with top athletes.
Betr’s Joey Levy and Jake Paul As part of the agreement, HOFV gains limited equity interest in Betr, revenue sharing, and the partnership incorporates opportunities for cross-marketing, branding, and engagement with consumers of both companies.
Betr will be powered by micro-betting technology company Simplebet, where Levy previously served as Co-Founder. Betr is “setting out to disrupt legacy gambling and media, with a mission of making sports and betting betr,” the company says.
Betr will focus predominantly on micro-betting, a growing form of betting that introduces “instant gratification to the user’s experience” by enabling the moments that drive U.S. sports consumption – such as pitches and at-bats of baseball games and plays and drives of football games – to become “discrete betting opportunities,” as well as simplifying the user experience.
Michael Crawford, HOFV President and CEO, said: “This partnership amplifies two of our key business verticals in gaming and media to further our strategic goal of continually creating new and unique sports content and experiences for our fans and guests to enjoy. Betr positions our company to obtain the necessary licenses to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders.”
Betr CEO Joey Levy stated: “We are excited to partner with HOFV on launching the world’s first micro-betting focused app in Ohio. Our differentiated product, combined with our sports media company built for the next generation of sports fans, along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country, makes us confident this will be a successful partnership.”
“We are also pleased HOFV has taken an equity position in Betr as part of this agreement – enabling us to preserve cash while providing HOFV upside in Betr’s success. We are grateful for HOFV’s belief in our company’s vision and are looking forward to introducing something different to this industry with them while creating value for all of our shareholders,” the executive added.
The Betr mobile partnership, coupled with HOFV’s previously-announced partnership with Rush Street Interactive, will “help further enhance the experience of fans by enabling visitors to place bets digitally anywhere in Ohio in addition to the premier sports betting retail location that RSI will be opening in the Fan Engagement Zone.”
The agreement with Betr replaces a previously announced agreement with Genesis Global. The deal comes ahead of Ohio’s sports betting market launch, set for January 1, 2023.