Lewis Pek Editor
Comment September 2022
I was listening to the launch of the new micro-betting business, Betr, co-founded by Joey Levy and Jake Paul, via a YouTube video posted by Paul that showed off his new Betr leg tattoo - when my son stopped me and asked why on ‘earth’ was I listening to ‘him.’ I explained the context and he shook his head in despair.
Betr has already raised US$40m in investment for the new venture, a site that uses the Simplebet platform, which we created and co-founded by Levy. Swiftly after the launch last month, Hall of Fame Resort and Entertinament announced a partnership with Betr for a 10-year agreement, gaining a limited equity interest in Betr, helping to cement the launch of the platform.
In a colourful video announcing his involvement in Betr, including the launch of a disruptive sports channel fronted by Paul, the media personality spent 20 minutes extolling the virtues of Betr while wailing upon existing US sports channels for their failure to connect with younger audiences. Proclaiming himself the saviour of sports media content, just as he rescued the sport of boxing.
PAUL COULD ATTRACT A MUCH YOUNGER AUDIENCE TO THE SPORTS BETTING SECTOR- BUT BE VERY CAREFUL WHAT YOU WISH FOR...
While I think it’s great that more people appreciate sport and enjoy betting responsibly- the involvement of a personality such as Paul, whose career has been littered with controversy, is an odd fit with the highly regulated gambling sector. In the past, Paul has been accused of selling products to minors, encouraging the use of credit card purchases by said minors and being part of pyramid selling schemes. The association of his brand with sports could be a double-edged sword for sponsors seeking a wider reach, but at the cost of brand integrity by association. Embracing such a controversial figure is a ballsy move for the sports betting industry, especially at a time when there’s intense scrutiny by regulators as to the focus and reach of gambling products via advertising and social media channels.
Paul could attract a much younger audience to the sports betting sector- but be very careful what you wish for...
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G3 Magazine Editor Lewis Pek
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G3Newswire Editor Phil Martin
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Deputy Editor Karen Southall
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Features Editor William Bolton
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International Reporter James Marrison
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Contributors Martin Wachter, Aram Atanesyan, Steve Rogers, Mark Krupanandan, Pantelis Teocharides, Jadranko Dragoje, Irina Cornides, Araksi Sargsyan, David Newstead, Rob Davis, Pini Yakuel, Alex Ivshin, Steve Mayes, Troy Zurawski, Rory Kimber, Claire Osborne, Tony Ure, Oliver Niner, Martin Dachselt, Alex Antsyferov, Simeon Hristov.
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