Who owns Betr? Ownership structure explained (2026)

Betr is one of the more closely watched startups in American sports gaming. It launched as a direct-to-consumer micro-betting app, the kind that lets users wager on the next pitch or the next play rather than a full game, and paired that with a media arm built around the enormous online following of co-founder Jake Paul.

The company sits at the intersection of celebrity marketing, sports betting, and financial regulation. Its sportsbook ambitions ran into the same customer-acquisition costs that have squeezed every challenger to DraftKings and FanDuel, so Betr leaned harder into daily fantasy and, more recently, into federally regulated prediction markets. Each of those businesses answers to a different regulator, which makes the question of who controls Betr, and who funds it, more than a trivia point.

Understanding who owns Betr matters because the company is still private, still burning capital to build multiple products at once, and still dependent on the same investors who backed its original micro-betting pitch. Who holds the equity shapes how patient that capital is, and how far Betr can pivot before it has to show a profit.

Betr Holdings, Inc. was announced on August 8, 2022 by Joey Levy and Jake Paul. The company is headquartered in Miami, Florida, and incorporated in the United States.

Levy is the operator behind the business. He co-founded Simplebet in 2018, a business-to-business technology company that built the machine-learning and automation infrastructure to price micro-markets, meaning individual moments within a game, at scale. Betr grew out of Levy's belief that micro-betting should be sold directly to consumers rather than only licensed to other sportsbooks, and the new company launched with a favorable technology license from Simplebet. Paul, the boxer and internet personality, brought a large social-media audience that Betr treated as a low-cost customer-acquisition channel through its media arm.

The product line has widened well beyond the original app. Betr now runs Betr Picks, a real-money daily-fantasy pick'em game live in roughly 33 states including large markets such as California and Texas where traditional sports betting is not legal, alongside a real-money Betr Sportsbook and online casino in a smaller set of licensed states, plus a casino-style arcade. Its most recent confirmed valuation was $375 million, a private figure of the sort a business valuation calculator helps approximate in the absence of a public share price.

Betr has no public stock. Its shares do not trade on any exchange, and no IPO has been announced. The company has funded itself entirely through venture capital rather than public markets. There is no parent company: Betr is an independent, founder-led private business, with its equity split among its founders, employees, and institutional investors.

Betr has not publicly disclosed the exact equity stakes held by its founders. What is clear is that Joey Levy and Jake Paul retain founder ownership, with Levy as CEO steering strategy and operations and Paul as president and the public face of much of its marketing. Paul made his investment partly through his Anti Fund vehicle, which means his stake reflects both founder equity and later capital he put in as an investor. Given the company's relatively modest total fundraising, founders and employees are likely to hold a meaningful share of the equity, though precise percentages are not confirmed.

No dual-class share structure or founder-protective voting arrangement has been publicly reported for Betr.

Betr raised a large Series A at launch, followed by a Series A2 in 2023 and a strategic round in 2024. Reported figures are drawn from the company's own announcements and press coverage.

Note: Betr has stated that these rounds bring its cumulative funding to roughly $100 million. The company has not published a full cap table, so ownership percentages are not confirmed.

Fuel Venture Capital, a Miami-based firm, has been among Betr's largest backers since the launch round and expanded its commitment during the 2023 Series A2. Its early and repeated participation makes it one of the most influential outside shareholders.

Roger Ehrenberg, through IA Sports Ventures and Eberg Capital, co-led the Series A2 and is one of the company's three largest investors. A former Wall Street trader turned venture investor, Ehrenberg brings a background in both markets and sports technology.

Aliya Capital Partners backed Betr early and continued to participate in later rounds. Harmony Partners and 10x Capital co-led the 2024 strategic financing, with 10x Capital notable for having been an early investor in DraftKings.

Betr has not announced any plan to go public. As a private company still building out multiple product lines and awaiting regulatory clearances, an IPO is not on the near-term horizon, and the company continues to rely on private financing.

Joey Levy is Betr's founder and CEO. He controls the company's strategy, product roadmap, and regulatory approach. His prior company, Simplebet, pioneered the micro-betting technology that Betr was built on, and DraftKings later acquired Simplebet outright. As founder and CEO, Levy holds the dominant position in Betr's decision-making.

Jake Paul is Betr's co-founder and president. His role centers on marketing and audience, using his large online following as a distribution channel for the company's products. As a co-founder and an investor through his Anti Fund vehicle, he holds a meaningful equity stake, though Levy runs day-to-day operations.

Betr has not published a detailed board roster. As a private, founder-led company, governance sits primarily with Levy and Paul, with major investors such as Fuel Venture Capital and Roger Ehrenberg typically holding stakes that come with some board representation or observer rights. The specifics have not been publicly disclosed, so board composition is inferred rather than confirmed.

Betr's online sportsbook requires a license in every state where it operates, and building that footprint proved expensive. The company competes for market share against entrenched leaders, most of all FanDuel's sports-betting operation, and it exited some markets, including Massachusetts, rather than absorb heavy promotional costs. Betr has framed this as a disciplined focus on profitability, but the retreat underlines how hard it is for a small operator to scale a full sportsbook.

Betr Picks is a pick'em style daily-fantasy game, the same format that regulators in several states have challenged as unlicensed sports betting. Rivals such as PrizePicks have faced cease-and-desist orders and forced product changes in multiple states over the question of whether pick'em contests are fantasy or wagering. Betr operates in that same contested legal gray zone, and adverse rulings in large states would directly threaten the product that now carries much of its growth.

In May 2026, Betr acquired Ascent Capital Management, also known as ACM Futures, a broker registered with the National Futures Association and the Commodity Futures Trading Commission. The deal gave Betr an immediate path to offer event contracts nationwide, skipping an NFA application it had been waiting on since late 2025. Betr plans to make prediction markets, powered by Polymarket's technology, available to its users. This route puts Betr under federal derivatives regulation rather than state gambling law, the same contested framework that operators like Kalshi are testing, and it remains subject to CFTC oversight and possible state pushback.

Betr's reliance on Jake Paul's audience has drawn criticism from responsible-gambling advocates, who argue that marketing betting products through a celebrity with a young, largely male following raises the risk of reaching underage or problem gamblers. The company operates in an industry facing rising scrutiny over advertising practices, and its founder-as-marketing-channel model keeps that criticism attached to the brand.

Betr's ownership structure shapes how much room it has to keep changing course. Because the company is private and founder-led, Levy and Paul can pivot from sportsbook to fantasy to prediction markets without answering to public shareholders who would demand quarterly consistency. That flexibility has been central to Betr's survival, letting it retreat from unprofitable betting markets and chase new products instead.

The venture backing still carries influence. Investors including Fuel Venture Capital, Aliya Capital Partners, and Roger Ehrenberg have put in roughly $100 million and expect a return, which pressures Betr to reach durable profitability rather than simply raise the next round. That expectation helps explain the company's stated focus on disciplined customer-acquisition costs and its move toward prediction markets, which can operate nationwide under a single federal license rather than state by state.

The multi-product structure also creates internal tension. Betr Picks, the sportsbook, the casino, and the coming prediction-market business each sit under different regulators, and each competes for the same capital and engineering attention. Who controls the company determines how that capital is allocated, and a founder-led cap table means those bets are placed by Levy and Paul rather than by a board of outside operators.

For users, ownership matters because it determines how stable Betr's products are. A private, well-funded company can keep experimenting, but it can also shut down a product line, exit a state, or be acquired if the economics do not work. The same pattern is visible across the sports-gaming market, where owners like DraftKings, which bought Levy's former company Simplebet, and challengers backed by patient venture money produce very different guarantees about how long a given product will stay live.

Joey Levy is the founder and CEO of Betr. He previously co-founded Simplebet, the micro-betting technology company later acquired by DraftKings, and has led Betr since founding it with Jake Paul in 2022.

No. Betr Holdings is a privately held company with no public stock listing, and no IPO has been announced. It has funded itself entirely through venture capital.

Betr was co-founded in 2022 by Joey Levy (founder and CEO) and Jake Paul (co-founder and president). Levy runs operations, while Paul leads marketing and brought his large online following as a customer-acquisition channel.

Exact ownership percentages are not publicly disclosed. Founders Joey Levy and Jake Paul retain significant equity and control. Major institutional investors include Fuel Venture Capital, Aliya Capital Partners, Roger Ehrenberg's Eberg Capital, Harmony Partners, and 10x Capital.

Betr has raised roughly $100 million across a 2022 Series A of about $50 million, a 2023 Series A2 of about $35 million, and a 2024 strategic round of about $15 million. Its most recent disclosed valuation was $375 million, set in the March 2024 round. The company competes with far larger public rivals such as DraftKings.

Betr runs Betr Picks, a real-money daily-fantasy pick'em game live in around 33 states, along with a licensed online sportsbook and casino in a smaller set of states and a casino-style arcade. In 2026 it moved to add federally regulated prediction markets after acquiring a CFTC-registered broker.