The Pro Football Hall of Fame and media figure/celebrity boxer Jake Paul have become business partners in the sports betting industry.
Hall of Fame Resort & Entertainment Company, which owns the Hall of Fame Village that includes the Pro Football Hall of Fame in Canton, has announced a 10-year partnership agreement with Betr, a sports betting company founded earlier this year by Paul, a Cleveland native, and sports betting industry veteran Joey Levy. The deal makes Betr the official mobile sports betting partner for the Hall of Fame, which had previously announced an agreement with Genesis Global to serve as a mobile sports betting partner.
However, based upon the Ohio Casino Control Commission’s list of sports gaming proprietor, services provider, and supplier applicants for sports wagering licenses, Betr had not applied for a sports betting license since the commission last updated its list of applicants on Aug. 5.
excited to announce our Ohio partners @HOFVillage ⚡️we’re doing deals to get properly licensed & regulated throughout the US with some of the most respected organizations in US Sports — & they are taking equity in the company to become @betr shareholdershttps://t.co/hwwS4eQM21
— Jake Paul (@jakepaul) August 11, 2022
Betr adds to Hall of Fame’s partnerships
The Hall of Fame Village, which is the only entity of its kind that will have a sportsbook, has partnership deals in place already with Rush Street Interactive and Instabet. The deal with Betr will allow sports bettors to place bets digitally throughout the Buckeye State. Rush Street’s partnership involves operating a sports betting retail location in the Hall of Fame Village’s Fan Engagement Zone, which is being built on the property located around the Pro Football Hall of Fame. Instabet is also a mobile platform partner.
“This partnership amplifies two of our key business verticals in gaming and media to further our strategic goal of continually creating new and unique sports content and experiences for our fans and guests to enjoy,” Hall of Fame President and CEO Michael Crawford said. “Betr positions our company to obtain the necessary licenses to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders.”
Betr claims to be the first-ever direct-to-consumer micro-betting focused sports betting company. Micro-betting involves placing a bet in real time on events other than the game’s outcome, such as offering bets on pitches and at-bats in baseball contests and plays and drives during football games.
Betr carving out own niche
Additionally, Betr has also launched a media venture that includes Paul — Betr’s founder — hosting a weekly show featuring top athletes. The deal also gives the Hall of Fame Village limited equity interest in Betr and revenue sharing. The collaboration also provides an opportunity for cross-marketing, branding, and engagement with consumers for both brands.
“We are excited to partner with HOFV on launching the world’s first micro-betting focused app in Ohio,” said Levy, the Betr CEO. “Our differentiated product, combined with our sports media company built for the next generation of sports fans, along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country makes us confident this will be a successful partnership.
Levy added: “We are also pleased HOFV has taken an equity position in Betr as part of this agreement — enabling us to preserve cash while providing HOFV upside in Betr’s success. We are grateful for HOFV’s belief in our company’s vision and are looking forward to introducing something different to this industry with them while creating value for all of our shareholders.”