News Corp. increases stake in Matthew Tripp’s Betr

Betr has received further investment from News Corp. recent filings have been revealed as confirmed by the Australian Financial Review over the weekend. News Corp., which was one of the three original investors in Matthew Tripp’s co-founded sports betting platform, has now reportedly increased its stake in the company as part of a $51m investment.

Betr made ripples in the Australian sports betting market, becoming one of the most prominent brands through well-placed commercials and offers that ran some tempting 100-1 odds on underdogs, prompting many gamblers to take a chance on exotic bets and quickly become familiar with the newly-setup betting brand. Betr is presently seeking to expand its footprint in the market, and it’s backed by Tekkorp, operating out of Las Vegas, Tripp’s own TGW, and News Corp.

All three companies volunteered equal shares to the tune of $12.5m to launch the betting platform which arrived with clever advertising practices that immediately caught consumers’ attention but also prompted legal scrutiny. Following the latest investment round and stake purchase, though, TGW and News Corp. now hold equal shares of 47% each.

There has been no comment shared with the media, nor the Australian Financial Report which did the original reporting, as to what may follow next for Betr. However, as the media noted, Betr and News Corp. can definitely build on some compelling synergies and business models.

News Corp.’s own publishing business is a powerful medium for sports betting companies, as they can advertise various promotions and gain additional coverage. Meanwhile, News Corp. is not entirely new to the online gambling space.

In fact, the company’s co-chairman, Lachlan Murdoc, is also the Chief Executive Officer for Fox in the United States. Murdoch has been keen to leverage a similar strategy beyond the Pacific Ocean in order to secure stronger positions in the market through the use of the FOX Bet brand, which is also relying on the coverage provided by the namesake media organization.

Presently, Tekkorp, the third original investor in Betr, is said to only hold a 4.5% share in the betting platform and has not invested during the latest round.

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