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US – BettHouse begins fresh funding round ahead of nationwide expansion

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

The Las Vegas-headquartered online sportsbook and mobile app will debut in Iowa next month and expand to four states by the end of 2021.

Integrating the technology platform from Bet.Works and Simplebet’s micro-betting pricing engine, which uses machine learning and automation to enable every moment of a sporting event to become a betting opportunity, fans can ‘bet every moment’ throughout the game via AI driven micro wagering data.

“The conventional sports betting industry is leaving money on the table by requiring an unreasonable level of understanding of traditional sports betting terminology from customers,” explained Steve Berman, BettHouse’s CEO.

“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.”

BettHouse’s senior team includes President and Founder Nitin Jain, Michael Blocksberg, Chief Operating Officer, Matt Birnbach, Chief Strategy Officer, and George Burkhardt, Chief Financial Officer.

BettHouse has said it will focus investment on IP development and the pursuit of market access in jurisdictions where sports betting is legalised 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.

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.”