Betthouse Announce New Funding Round Ahead Of Iowa Launch

BettHouse, the software start-up that is the first non-legacy sportsbook to win retail access in the United States, has announced a new round of investment ahead of its nationwide launch.

The online sportsbook and mobile app based in Las Vegas will launch in Iowa next month, with plans to extend to four states by the end of 2021.

Go-to brand

BettHouse strives to be the go-to brand for millions now put off by misleading betting lingo and stale cookie-cutter platforms by combining Bet.Works’ technology framework and Simplebet’s micro-betting pricing engine, which uses machine learning and automation to transform every moment of every sporting event into a betting opportunity.

Steve Berman, the company’s CEO, who in more than 25 years in the US sports betting and igaming industries has successfully developed and introduced several businesses and brands, said: “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.

“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.”

Nitin Jain, President and Founder of the company, is joined by Michael Blocksberg, Chief Operating Officer; Matt Birnbach, Chief Strategy Officer; and George Burkhardt, Chief Financial Officer, on the senior staff.

Prioritising IP growth and market access

In countries where sports betting is legalised or where regulation is pending, the organisation will prioritise IP growth and market access. This covers a number of jurisdictions in the United States and Canada, where legislation to lift limits on single-event sporting wagering is in the works, supported by the federal government.

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.”