VEGAS-BASED STARTUP BETTHOUSE TARGETS EXPANSION THROUGH NEW FUNDING ROUND

BettHouse, the first non-legacy sportsbook to gain market access in the US, has announced a new funding round ahead of its roll-out across the nation.

The Las Vegas-headquartered online sportsbook and mobile app, is pitching itself as designed for sports fans who want to feel the buzz of the bleachers when they bet, and will debut in Iowa next month, and plans to expand to four states by the end of 2021.

BettHouse integrates the technology platform from Bet.Works and Simplebet’s micro-betting price engine, and is led by what it calls a “major league executive team.”

“BettHouse’s mission is to create a simpler, more profitable and engaging betting experience all fans will love,” said Steve Berman, BettHouse CEO and US online sports betting pioneer. “From the moment a consumer opens our app they will see and feel the difference. BettHouse is simple, fan-friendly, intuitive and positioned to speak to a sports fan first. By offering that instant gratification, we will appeal to everyday fans and traditional sports bettors.”

President and Founder Nitin Jain commented: “The US betting market is projected to be worth $15bn by 2025, but such projections are based on the current product landscape. BettHouse will focus on the micro-markets, which will expand revenue and handle above traditional offerings via more betting opportunities for customers.”

BettHouse says it will focus investment on IP development and the pursuit of market access in jurisdictions where sports betting is legalized or where legislation is pending. This includes multiple US states and Canada, where Federal Government-backed legislation to end restrictions on single-event sports wagering is progressing.

AYO.NEWS says:

There’s no doubt that BettHouse is going to have its work cut out taking on the extremely well-resourced and experienced ‘legacy’ sportsbooks. But, as we’ve pointed out before, the growing importance of younger bettors who have grown up with microtransactions in video games, coupled ever-tighter regulations, could mean micro-betting is the way forward for operators.