Betty raises $5M for inclusive real-money online gambling
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Betty has raised $5 million in funding for its real-money online gambling business aimed at diverse audiences.
While many online gambling companies such as Draftkings and FanDuel target men, Betty is taking a different approach, going after the same diverse audiences that like casual games.
Karlani Capital led the round. Also participating in the round were CEAS Investments, Courtside Ventures, Gaingels, OCA Ventures, Subversive Capital, and 305 Ventures. Betty previously raised a $1.8 million pre-seed round in March 2022.
Betty has identified a large audience of casual “Casino” customers, particularly women slot players, who are underserved by existing brands which, at their core, are sportsbooks, said CEO Justin Park in an interview with GamesBeat.
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Park started the company in March 2022. The inspiration was related to his previous company in the sports-betting space. The company interviewed more than 150 players in the market and found that 80% of them also played free-to-play mobile games like Candy Crush Saga. Yet those kinds of mechanics don’t really exist in social casino games, Park said.
“We saw that the online casino space is huge, with big market inefficiencies. There is a very large underserved audience among female slot players,” he said.
What surprised me about this business getting funding is that most of the social casino games and online gambling companies received funding more than a decade ago. You would think
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