Ultimate Odds, a fantasy sports platform that combines sports betting with fantasy players, has completed its seed funding round to help launch its fantasy sportsbook.
Co-founded by Philadelphia-based entrepreneurs Justin Batushansky and Jonathan Bierig, Ultimate Odds aims to go live with its fantasy sportsbook product in 2022.
The funding round was led by sports betting and gaming industry veterans Seth Young, Chief Strategy Officer of Fifth Street Gaming; Benjie Cherniak, Principal at Avenue H Capital; and gaming industry investor and consultant Quinton Singleton.
Ultimate Odds also received additional support from Stephen Jurgella and 305 Ventures, a venture capital fund managed by Simplebet Co-Founder Joey Levy, among others. Fifth Street Gaming CEO Seth Schorr has also been named an Advisor.
Batushansky and Bierig commented: “We are thrilled with our seed investment team. Our investors understand there is a shortage of standout innovative and engaging games in the market.
“Ultimate Odds was created to bring the fantasy sports and sports betting world closer together because the players are often one in the same.”
Ultimate Odds is aiming to bridge the gap between fantasy sports and sports betting by combining the two products.
Drafted bets – such as the Chiefs’ moneyline, Jaguars’ over/under, a running back’s yardage over/under – replace the traditional fantasy starting positions of quarterback, running back, and wide receiver. Games are played head-to-head format against an opponent.
Ultimate Odds states that contest winners are determined by the player that has “the longest calculated parlay odds based on their successful drafting and management of their roster of ‘bets’ on a daily or weekly basis”.
Cherniak stated: “The Ultimate Odds experience is not only highly engaging but also differentiates from the pack, presenting a true competitive gaming experience within the fantasy and sports betting space. The offering is perfectly suited to an emerging generation of sports enthusiasts.”
“I’m thrilled to be a part of the Ultimate Odds journey. The game concept is fantastic, and I love the company’s fresh approach to fan engagement,” added Young.
“It’s unique, it’s compelling, it’s fun, and it also addresses a unique angle in the burgeoning affiliate market in the USA.”