GeoComply and Betting Hero have closed a previously announced acquisition under a newly incorporated entity.
Betting Hero announced on Thursday the completion of the sale of the business to Hero Group Corp., a new entity controlled by co-founders Jai Maw and Jeremy Jakary with financial support from GeoComply. In June, sports and entertainment company FansUnite announced the sale of Betting Hero to its co-owners and GeoComply for $37.5 million.
Before the sale, Betting Hero had served as FansUnite’s wholly-owned U.S. subsidiary. After the closing of the transaction, Jakary and Maw jointly own 60% of Betting Hero while GeoComply holds the remaining 40% stake. GeoComply’s investment will support scaling.
“We are really excited to work with GeoComply across the entirety of their business and ours,” Maw told SBC Americas. “They are a company that prioritizes the needs of their clients and are on a mission to help operators improve the industry for all. At Betting Hero, we share a similar vision and mission.”
FansUnite has sold Betting Hero to its co-founders and GeoComply after acquiring its parent company American Affiliate in 2021.
As a result of the sale, FansUnite’s portfolio of brands now only includes BetPrep.
Betting Hero on solid ground
The company, founded in 2018, delivered its 500,000th bettor to the U.S. betting ecosystem in March behind the launch of online sports betting in North Carolina.
Betting Hero is poised for growth as it focuses on diversifying and innovation.
“As we look to 2025, it’s going to be a year of iteration and innovation,” said Jakary. “While we will continue to focus on growing our live activation and research businesses, we are excited about the opportunity to expand into digital and show the market what we can do in 2025.”
