Since the Hall of Fame Game between the Jacksonville Jaguars and Las Vegas Raiders opened the NFL preseason last Thursday, a new sports betting company has established its footing in Ohio.
Canton-based Hall of Fame Resort & Entertainment Company (HOFV), home of the Pro Football Hall of Fame, announced Thursday a 10-year agreement with Betr to become the official mobile sports betting partner of HOFV, pending regulatory approvals.
Ohio sportsbooks have a planned launch date of Jan. 1, 2023 at the stroke of midnight.
Betr — which just announced its formation on Monday as a direct-to-consumer, micro-betting focused sports betting company — is founded by previous Simplebet co-founder Joey Levy and social media mogul/boxer Jake Paul.
As part of the agreement, HOFV gains limited equity interest in Betr, revenue sharing, and the partnership between the two encompasses opportunities for cross-marketing, branding, and engagement with consumers, according to a news release.
“This partnership amplifies two of our key business verticals in gaming and media to further our strategic goal of continually creating new and unique sports content and experiences for our fans and guests to enjoy,” said Michael Crawford, HOFV president and CEO, in the release. “Betr positions our company to obtain the necessary licenses to make a dramatic impact in the mobile betting space and will drive meaningful value for our stakeholders.”
Last December, HOFV announced a 10-year agreement with Rush Street Interactive (RSI) to allow for a BetRivers Sportsbook Ohio retail location at the company’s Hall of Fame Village Fan Engagement Zone.
More About Betr
Betr’s main focus is micro-betting, such as pitches and at-bats of baseball games and plays and drives of football games. Betr will be joining what is expected to be a huge market for Ohio sports betting apps.
“We are excited to partner with HOFV on launching the world’s first micro-betting focused app in Ohio. Our differentiated product, combined with our sports media company built for the next generation of sports fans along with HOFV’s strengths and access to unique content experiences in Ohio and throughout the country makes us confident this will be a successful partnership,” Levy, the Betr CEO, said in the release.
“We are also pleased HOFV has taken an equity position in Betr as part of this agreement — enabling us to preserve cash while providing HOFV upside in Betr’s success. We are grateful for HOFV’s belief in our company’s vision and are looking forward to introducing something different to this industry with them while creating value for all of our shareholders.”
HOF Game Participation Doesn’t Mean Post-Season Success
Last Thursday, the Raiders upended the Jaguars, 27-11, with the support of a 20-point first half, but that does not mean a trip to the post-season is in the cards. BetOhio researched what playing in the Hall of Fame game means to the teams.
Teams participating in the annual game have an average regular-season record of 8-8 and a 42% chance to make the playoffs.
In two of the last three years, teams that have played in the HOF game made the playoffs, but could get no further than the Wild-Card Round. Last season, the Pittsburgh Steelers (9-7-1), a 16-3 winner over the Dallas Cowboys (12-5), each lost their respective Wild-Card games.
The NFL’s exhibition season kicks off in full starting Thursday night (New York Giants at New England Patriots; Tennessee Titans at Baltimore Ravens) and with 14 games between Aug 12-14.
Be on the lookout for Ohio sportsbook promo codes when the state launches betting in January.