Jake Paul, Anti Fund Make $30 Million Investment in Simplebet
Jake Paul's venture capital, Anti Fund, is set to enter the sports betting business.
The popular YouTuber, who has recently garnered attention as a boxer, is leading investment in Simplebet, which is a business-to-business platform that enables sports betting operators, media companies and technology companies to offer micro-betting on sports.
Micro-betting is wagering on individual moments within a game, such as the outcome of a pitch, who will make the next catch or score the next basket.
“We have the future operating system of all in-play betting,” Simplebet CEO Chris Bevilacqua said to CNBC earlier this year. “And we think in-play betting is going to be the way the vast majority of sports fans are going to bet.
“It goes beyond drives and plays but expands into correlated bets, so you can bet not only on the next play but if the next play will result in a touchdown from a pass on the third play of the drive.”
Simplebet debuted its product on FanDuel Sportsbook for the 2020 NFL season. On the free-to-play model, “PlayAction,” the software accumulated over 100,000 unique users who placed over 8 million free-to-play wagers.
The funds from Anti Fund investment will help accelerate the consumer adoption of micro-betting, according to Simplebet. The company’s current NFL betting, NBA betting and Major League Baseball betting products will be expanded with additional funding, which will include more betting options for players.
In March, Anti Fund was founded by Paul and entrepreneur Geoffrey Woo. Nakisa Bidarian is the founder of BAVAFA Sports, the sports and media talent group that represents Paul, and she also joined Anti Fund as an operating partner and will co-lead the Simplebet investment.
“Geoffrey and I founded the Anti Fund to create a space for high-growth companies like Simplebet to make an impact throughout the industry, and we’re thrilled to help them achieve the success they deserve,” Paul said in a statement. “I’m also excited for the team to be joined by Nakisa, who has the expertise and knowledge base that will push the company even further.”
Simplebet Partnered with DraftKings
On Tuesday, DraftKings announced a multi-year deal with Simplebet, allowing the popular gaming operator to feature micro-betting across its sportsbooks.
Under the deal, DraftKings Sportsbook will be able to offer Simplebet’s micro-betting products for the NBA, NFL, MLB and college football.
“We’re excited to be working with Simplebet to change the in-game betting experience for our customers and, together, changing the way sports fans engage with their favorite sports,” Paul Liberman, President, Global Product and Technology at DraftKings, said in a media release. “Through our shared commitment to delivering innovative technology, our customers are now able to take part in this unique betting and engagement experience on the DraftKings Sportsbook.”
Paul Fighting Tyron Woodley This Weekend
Paul will continue his boxing career on Sunday when he faces Tyron Woodley. Paul is 3-0 with three knockouts and is coming off a victory over former MMA fighter Ben Askren. But Sunday may be Paul’s toughest test. Woodley is a former UFC welterweight champion who was known for highlight-reel worthy strikes during his MMA career. Sunday will be Woodley’s first official boxing match.
But Paul does have some advantages over Woodley, including being 15 years younger and standing at 6 feet 1, giving him a two-inch reach advantage on Woodley.
Boxing sportsbooks have Paul as the favorite, with DraftKings listing Paul at –210 on the moneyline, while Woodley is a +170 underdog.
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