Betr, a micro-betting-focused sportsbook, has agreed to a partnership with Caesars Southern Indiana and the Eastern Band of Cherokee Indians’ (EBCI) gaming entity, EBCI Holdings, in the state of Indiana.
Co-founded by Simplebet co-founder Joey Levy and media mogul Jake Paul, betr plans to offer micro-betting to the US market rather than a traditional offering.
Subject to regulatory approval, the deal will provide betr with market access and licensing in the Hoosier State, where the sportsbook plans to launch soon. Once licensed, bettors using betr will be able to wager on thousands of different live game plays or events all year round.
Since the agreement is also predominantly equity-based, EBCI Holdings is now one of betr’s largest shareholders.
“We are thrilled to be working with Caesars Southern Indiana and EBCI Holdings to bring Betr to the Hoosier state,” commented Levy, Founder and CEO of Betr.
“Market access is one of the primary expenses that comes with launching a regulated sports betting business in the US, so we have been focused on aligning ourselves with partners who buy into our vision and are willing to take equity in lieu of cash for access.
“We are thrilled to announce this partnership and we are grateful for the opportunity to undergo the licensing process with the Indiana Gaming Commission.”
Caesars Southern Indiana is owned by EBCI Holdings, which initiated the partnership with betr.
The gaming entity will be providing the sportsbook with Indiana market access via Caesars Southern Indiana, but this deal also has the potential to expand to market access in additional states.
“Our partnership with Betr will deliver a fresh, dynamic new way of betting to thousands of sports fans in our area. It’s a thrilling new way to engage with live sports,” added Brad Seigel, General Manager of Caesars Southern Indiana.
“With Betr’s microbetting focus combined with Betr’s smart take on sports media led by boxing star Jake Paul, we believe Betr will be a fun new option for sports fans throughout Indiana and will appeal to mass market consumers.”
Back in August, betr agreed to a similar equity-focused partnership with the Hall of Fame Resort & Entertainment Company for market access in Ohio.