Sports betting social media platform Betsperts has completed the acquisition of fantasy sports news platform Fantasy Life App for an undisclosed amount.
Under the agreement, the new entity will be called Betsperts Media and Technology Group and form what Betsperts described as the largest social media platform dedicated to sports betting and fantasy sport in the world.
The acquisition will double the number of staff in the Betsperts business, with Fantasy Life App co-founder Matthew Berry to become a board member and a minority shareholder in Betsperts.
Following the closing of the acquisition, Betsperts will now undertake a multi-million-dollar Series A funding round, with proceeds to fund growth strategies including bringing in new talent, adding more content and user acquisition, and making advancements in technology.
“The future of sports betting is stronger social connectivity between bettors and we are leading the way in building the destinations for communities,” Betsperts chief executive Reid Rooney said.
“The acquisition of Fantasy Life App is a major stepping stone in providing our loyal users with advanced capabilities where they’ll be able to not just interact within the community but utilize Betsperts to grow, fortify and effectively monetize their sports betting following much like how influencers leverage other social media platforms.”
Investors in the new Betsperts entity include Parlay Capital Holdings, Velo Partners, Major League Basbeball players Evan Longoria, Adam Wainwright and David Price, Nascar driver Kyle Busch and Jesse Itzler, owner of National Basketball Association franchise the Atlanta Hawks.
“When I saw what Reid and Austin had built with the Betsperts community I was really impressed,” Berry said. “They’ve done for sports betting what we have done for fantasy – used advanced technology to create a robust and highly engaged community.
“The companies are a perfect complement to each other and as gaming in all forms keeps growing in America, I know that bettors and fantasy players alike will continue to look to Betsperts and the Fantasy Life Apps for more ways to interact, educate and entertain themselves.”
(Photo : Fantasy Life App)