• Loading stock data...
Tuesday, June 25, 2024

Jake Paul, Joey Levy’s Betr Acquires Chameleon Betting Platform

  • Betr has acquired the Chameleon platform from Canadian sports technology company FansUnite for $7.45 million.
  • Sixty percent of the transaction was completed in cash, with the other 40% coming in stock.
Jake Paul watches a game between the Miami Heat and the New York Knicks during game three of the 2023 NBA playoffs.
Rich Storry-USA TODAY Sports

The betting company co-founded by Jake Paul and Joey Levy is adding a new sports betting platform as it seeks to continue breaking into the sports betting industry.

Betr has acquired the Chameleon platform from Canadian sports technology company FansUnite for $7.45 million. Sixty percent of the transaction was completed in cash, with the other 40% coming in stock.

Chameleon’s suite includes player account management, sports betting engine, and casino management. The engineering team on Chameleon will now work for Betr, who will begin developing the product immediately and expect to go live in the first half of 2024.

The sportsbook startup has made waves since its founding last year by emphasizing micro-betting — the act of placing wagers on moments within games — and creating a more intuitive online sportsbook experience for users. With the acquisition of Chameleon, Betr is looking to become more of a traditional sportsbook while maintaining what has made it popular in the first place.

Jake Paul Is Coming for the Sports Betting Business, Too

Will the boxing sensation have the same success in sports media?
September 4, 2022

“We went to market deliberately with what admittedly was initially a little bit of a barebones product, but to get out there really quickly, learn from the product experience, and improve it over time,” Levy told Front Office Sports.

Levy envisions Betr offering all of the same bets that the most popular sportsbooks offer but using the same “multiple-choice, quiz-like questions” that have been the hallmarks of Betr’s micro-betting experience.

“We don’t want a situation where a user really loves Betr for micro-betting, but they want to place a bet on the outcome of a game, or a parlay, or a future bet, and they quite literally have to use another product experience because we don’t offer it,” says Levy. “So this is a part of accelerating our ability to offer pretty much everything that a consumer would find on FanDuel or DraftKings while also enjoying the benefits of what we’ve developed from a core user experience standpoint.”

The acquisition of Chameleon will also offer Betr the perk of flexibility: Levy says the company will not be beholden to other services to run its betting operation anymore and can even adjust it on the fly as needed.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Mar 11, 2024; Denver, Colorado, USA; Toronto Raptors center Jontay Porter (34) reacts after a play in the third quarter against the Denver Nuggets at Ball Arena.

Conspirator Arrested in Federal Complaint Tied to Jontay Porter Scheme

Authorities arrested Long Phi Pham at JFK airport Monday.
Dec 14, 2023; Los Angeles, CA, USA; Ippei Mizuhara, the translator for Los Angeles Dodgers designated hitter Shohei Ohtani, during an introductory press conference at Dodger Stadium.

Shohei Ohtani’s Former Interpreter Pleads Guilty to Stealing $17 Million, Tax Fraud

Mizuhara faces up to 33 years in prison, with sentencing in October.
podcast thumbnail mobile
Front Office Sports Today

How the American Soccer Fan is Unlike Any Other Sports Fans

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
Pac-12
June 1, 2024

The Pac-12 Wants Everybody to Know That It Isn’t Dead Yet

With a broadcast studio and two schools, the league plans to rebuild.

ESPN Bet’s Operator Is Reportedly Being Eyed in a Potential Takeover

Boyd Gaming has reportedly approached ESPN Bet partner Penn Entertainment about an acquisition.
Tucupita Marcano
June 4, 2024

Lifetime Ban Is More Proof of Sports’ Complicated Betting Relationship

MLB suspends five players, including one permanently, for betting on big league games.
June 23, 2024

Sports Betting Money Won’t Bail Out Cash-Hungry College Athletic Departments

Schools are desperate for money, but they won’t be partnering with gambling operators.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
Jul 9, 2023; Phoenix, Arizona, USA; Pittsburgh Pirates Tucupita Marcano (30) fields a ground ball against the Arizona Diamondbacks at Chase Field.
June 4, 2024

MLB Bans Padres Infielder for Betting on Baseball, Suspends Four Others

On the Pirateslast season, Tucupita Marcano bet on Pittsburgh’s own games.
June 3, 2024

Padres Infielder Could Face Lifetime MLB Ban Over Gambling

As a Pirate last season, Tucupita Marcano allegedly bet on Pittsburgh games.
DraftKings
May 30, 2024

More States Hiking Sports Betting Taxes, Eyeing Revenue Windfall

Illinois more than doubles its peak tax rate on sportsbook operators, with others likely to follow.
May 20, 2024

MLB Officially Investigating Gambling Allegations Against Ohtani’s Close Friend and Longtime Teammate

David Fletcher reportedly used the same bookmaker as Ohtani’s former interpreter.