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Jake Paul’s New Sports-Betting Business Raises $50 Million

Jake Paul celebrates with his brother, Logan, after a 2020 fight in Miami.

Jake Paul celebrates with his brother, Logan, after a 2020 fight in Miami.

Photographer: Michael Reaves/Getty Images

Jake Paul, the social-media star turned professional boxer, is raising funds for a new sports-gambling and media venture focused on micro-betting as the industry opens up in more states across the US.

The $50 million funding round for his company, Betr, was led by Florida Funders, Aliya Capital Partners and Fuel Venture Capital, with the final closing scheduled for this quarter. Additional investors include Simplebet, Magic City Casino and Stronach Group, along with celebrities like rapper Travis Scott and former NFL players Richard Sherman and Dez Bryant.