The budding online sportsbook operator at BettHouse has announced the launch of a new funding round in an attempt to help finance the roll-out of its mobile sportsbetting app in multiple markets across the United States and Canada.
The Las Vegas-headquartered firm used an official Tuesday press release to declare that it hopes to premiere its mobile-friendly innovation ‘designed for sports fans who want to feel the buzz of the bleachers when they bet’ in the Midwestern state of Iowa from next month before finishing the year with debuts for another trio of jurisdictions.
BettHouse explained that it intends to use the proceeds from this ongoing funding campaign to further develop its own intellectual property and pursue access to markets throughout the United States where online sportsbetting is becoming increasing popular following the 2018 invalidation of the previous Professional and Amateur Sports Protection Act (PASPA) prohibition. The innovator detailed that it is moreover keen on expanding into Canada once the federal government passes proposed legislation that would legalize single-event sports wagering nationwide.
Online sportsbetting pioneer Steve Berman serves as the Chief Executive Officer for BettHouse and he used the press release to declare that his firm is now offering investors ‘a rare and striking opportunity’ to join an endeavor that is destined to ‘revolutionize the established order in the world’s most dynamic betting market.’ He furthermore stated that his company’s sports wagering service will debut in Iowa utilizing a platform from Bet.Works Corporation, which was recently bought by American casino operator Bally’s Corporation as part of a $125 million deal, in addition to a ‘micro-betting price engine’ developed by machine-learning and digital automation specialist Simplebet.
Read a statement from Berman…
“BettHouse’s mission is to create a simpler, more profitable and engaging betting experience all fans will love. From the moment a consumer opens our app they will see and feel the difference.”
Berman additionally proclaimed that his company’s coming sportsbetting app is to be the first such non-legacy innovation to have gained access to the licensed sports wagering market of the United States and has been designed to offer ‘instant gratification’ by being customer-friendly, intuitive and simple to use. He also asserted that the advance is destined to ‘appeal to everyday fans and traditional sports bettors’ and become ‘the go-to brand for millions currently turned off by confusing betting lingo and stale cookie-cutter platforms.’
For his part and Nitin Jain, President for BettHouse, used the press release to divulge that the sportsbetting market of the United States could well be worth up to $15 billion by the end of 2025. However, he pronounced that this figure is based on ‘the current product landscape’ with his firm now eager to ‘focus on the micro-markets’ so as to help grow this pot via an expansion of aggregated handle and revenues.