Jake Paul keeps it Simple with gambling supplier investment
Simplebet may well be a future giant of the industry in the making.
The US sports betting supplier will feature in the news section of this week’s GI Friday, following its recent deal with DraftKings and the hiring of Jim Murren to its board of directors.
Now, it has funding from Jake Paul’s investment firm to add to its list of notable yet perhaps quirky recent achievements.
Paul is a famous YouTuber, which can often mean being famous for doing very little to nothing, but has since moved into combat sport alongside his brother Logan. Paul will face Tyron Woodley in an upcoming mixed martial arts fight.
But with significant YouTube income comes the ability to spend it and perhaps exert some influence on the wider entertainment sector.
Simplebet is his investment firm’s latest opportunity to do so, with Simplebet raising $30m in its latest funding round.
According to Bloomberg, the investment is “being led by Paul’s Anti Fund and former UFC executive Nakisa Bidarian, who now runs talent advisory firm Bavafa Sports.”
It will be a surprise not to see Simplebet’s stock soar in the coming years, following early deals with the likes of DraftKings and FanDuel.
The provider’s micro-betting technology allows bettors to wager pitch-by-pitch and shot-by-shot. Ultimately, this means an abundance of new revenue opportunities for US sports betting operators.
As we allude to in this week’s GI Friday, however, the stumbling block further down the line may well lie in proving the following: exactly where does responsible gaming factor into this whole picture?
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