Dubai, United Arab Emirates, 18th Nov 2024 – Fuel Venture Capital, the lead investor in Betr from the United States of America, and Mintiply Capital, a prominent GCC investment and advisory firm, are partnering to bring Betr, the world’s fastest-growing sports gaming and media platform, to the United Arab Emirates. Betr, co-founded by renowned entrepreneur and sports icon Jake Paul, is recognized for its innovative approach to sports betting and entertainment. As the UAE becomes the first Gulf country to legalize commercial gaming, the region’s new regulatory landscape provides an opportune backdrop for Betr’s entry into the Middle East.
Aimed at transforming the way sports are experienced, Betr leverages digital platforms to merge sports gaming with real-time sports media, providing fans with an immersive and interactive entertainment experience. The company has shown impressive early growth, expecting to close its first full operational year with $60 million in revenue. Fuel Venture Capital, based in Miami, and Mintiply Capital are working together to introduce this opportunity to UAE investors as part of Betr’s latest $15 million funding round, allowing regional investors to join in Betr’s vision.
Notably, Jake Paul’s involvement has significantly amplified Betr’s visibility and appeal, with the sports icon currently featured prominently on Netflix and set to participate in what’s being hailed as the largest sporting event of the 21st century, streaming live last Saturday on Netflix. Paul’s influence and high-profile activities underscore Betr’s role as a game-changer in the sports betting space.
The UAE’s recent legalization of commercial gaming marks a historic development for the region. The country has granted its first lottery license to The Game LLC, paving the way for new forms of commercial gaming under the supervision of the General Commercial Gaming Regulatory Authority (GCGRA). The GCGRA’s regulatory framework defines commercial gaming as any game involving a wager of money or valuables, covering a broad spectrum from internet gaming to lottery games and sports event wagering. This landmark change aligns with the UAE’s ambitions to diversify its economy and establish itself as a global hub for innovative industries.
“Betr’s potential expansion into the UAE could not come at a more opportune time, given the recent regulatory advances in commercial gaming,” said Hasnae Taleb, Managing Partner at Mintiply Capital. “The UAE’s progressive approach to commercial gaming aligns perfectly with Betr’s mission to enhance the way sports are consumed and experienced. Our aim is to bring cutting-edge digital experiences to the region, supporting the UAE’s strategic vision to foster innovation and drive economic growth.”
For Betr, the UAE represents an ideal market for growth, offering a young, digitally engaged population and a rapidly evolving entertainment landscape. Should the expansion proceed, Betr could set a new standard for digital sports betting and media, attracting sports enthusiasts from across the Middle East and beyond.
With Fuel Venture Capital and Mintiply Capital’s combined expertise and investment, Betr’s UAE expansion stands to deliver unprecedented digital sports experiences, helping shape the future of sports gaming in the Gulf.
Media Contact
Organization: Mintiply Capital
Contact Person: Investment Team
Website: https://mintiplycapital.com/
Email: Send Email
City: Dubai
Country: United Arab Emirates
Release Id: 18112420153