Microbetting sports betting platform refounded by Jake-Paul And Joey Levy, recently announced an acquisition to continue its push in the industry. Here’s a look at the deal and how it could shape Betr’s future.

What happened: Paul and Levy created Betr with the goal of simplifying the process of live sports betting and prediction of outcomes.

The company operates a sports media division, as well as an online sports betting and online casino division.

Paul is the company’s President and Levy serves as the CEO.

Betr recently announced that this is the case Acquisition of the Chameleon platform out of FansUnite Entertainment Inc. FUNFF. Chameleon is a gaming company that offers player account management, sports betting infrastructure and casino management. The company also holds gaming certification in multiple US jurisdictions.

“We are very pleased to acquire FansUnite’s Chameleon platform and also to welcome to the Betr family the engineering team that has been working on this platform for several years,” said Levy. “This is a transformational transaction for Betr, allowing Betr Gaming to fully control our ability to execute on our core strategy while delivering significant gross margin for our business model.”

As part of the transaction, Betr values ​​Chameleon’s source code, documentation, intellectual property and physical assets at $7.45 million. The acquisition will be paid at closing for $2.23 million in cash and $1.49 million in equity. Betr will also pay $2.23 million in cash and $1.49 million in equity, payable over a 12-month period following the closing of the acquisition.

Related link: Jake Paul Introduces Betr App That May Make Him And You Richer

Why it matters: Betr said the acquisition will help the company vertically integrate its platform and accelerate its sports betting and iGaming coverage areas.

According to the company, Betr is the fastest growing sports betting media brand in the United States and was the first…