BETR ACQUIRES LICENSE TO HUDDLE TECH SPORTS GAMING TECHNOLOGY

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Aug 22, 2024, 12:02 ET

Betr bolsters its content and technology capabilities and fully vertically integrates product

MIAMI, Aug. 22, 2024 /PRNewswire/ -- Betr Holdings, Inc. (Betr), a leading sports gaming and media company, announced today that it has acquired a license to Huddle Tech's sports gaming technology, allowing Betr to utilize and build upon the IP to power the company's sports gaming platform. This license allows Betr to fully leverage Huddle Tech's advanced technology stack which includes best-in-class odds-making, risk and trading tooling, and content that spans Same Game Parlays (SGP), Same Game Parlays Plus (SGP+), micro-markets, player props, futures, exotics, and traditional markets like moneyline, point spread, and over/unders – with all capabilities spanning both pre-match and in-play.

Betr has already integrated Huddle Tech's software in its new sportsbook platform, which remains on track to launch ahead of the 2024 NFL season. The new Betr Sportsbook will initially launch in Ohio and Virginia, where the company had been operating its beta sportsbook product. Betr has received temporary sports wagering licenses in Indiana and Maryland, and has secured market access for sports wagering in Pennsylvania, Colorado, and Kentucky.

"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," said Joey Levy, Founder and CEO of Betr. "We now have the capability to build our own product and technology and are no longer reliant on third parties in a significant way."

"We are thrilled to see Betr utilize our software technology to enhance their sports gaming offerings," said Francesco Borgosano, CEO of Huddle. "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 U.S. market."

About Huddle

Huddle is a next-generation technology provider building advanced, proprietary data-driven solutions designed to transform the user experience and unlock the true potential of iGaming operators. By combining infrastructure that collects and organizes disparate data sets in near real-time and proprietary algorithms developed by some of the brightest minds in the industry, Huddle provides best-in-class solutions for gaming operators while creating cost-saving operational efficiencies. Huddle's solution provides the automated pricing of basketball, football, tennis, ice hockey, and baseball, both pre-match and in-play.

About Betr

Founded in 2022 by Joey Levy and Jake Paul, Betr is a leading sports gaming and sports media company focused on enhancing the consumption of sports through entertainment. Betr's gaming products are differentiated through a unique product experience with a simplified user interface that is catered to the casual sports fan, enabling Betr to capture more of the underpenetrated online gaming addressable market. Betr began with a beta version of its Online Sports Betting (OSB) product, which only offered microbetting markets such as the next play in a football game or the next pitch in a baseball game, before launching its real-money Daily Fantasy Sports (DFS) product, Betr Picks, in 24 states. Betr plans on launching its V1 Sportsbook product with full sportsbook capabilities ahead of the 2024 NFL season, as well as its iGaming vertical with the launch of Betr Casino by the end of 2024. Betr's media division, Betr Media, is the fastest growing sports betting media brand in the United States that has grown to over 7.3 million followers, 4 billion impressions, and 209 million engagements across its social channels since publicly launching in August 2022. Betr Media is able to effectively reach and engage its audience at scale given its large social following coupled with its unique combination of in-house media talent and production, with an emphasis on original short-form video content.

For more information on Betr, visit betr.app or follow @betr on TikTok, Instagram, and Twitter. To learn more about responsible play, please visit betr.app/responsibility.

SOURCE Betr Holdings, Inc.