Betr Holding Takes Over FansUnite’s Chameleon Platform
US-based micro-betting company Betr Holdings has acquired FansUnite Entertainment’s sports betting engine and casino management tool, Chameleon, in a deal worth $7,448,000.
Chameleon allows betting operators to organize and effectively render their services via its gaming solutions. These including a sports betting engine, casino management, and player account management (PAM).
As per the deal, Betr received the Chameleon source code, intellectual property, physical assets, and other related documentation from FansUnite Entertainment.
By acquiring the technology, Betr can quickly expand its sports betting market coverage and casino gaming offering. The operator will also be able to accelerate the launch of its integrated sportsbook and casino product.
We are thrilled to acquire the Chameleon platform from FansUnite and to also welcome the engineering team that has been working on this platform for several years to the Betr family. This is a transformational transaction for Betr that enables Betr Gaming to fully control our ability to execute against our core strategy while also capturing a material amount of gross margin for our business model.
In March 2023, Betr received a mobile sports betting license from the Virginia Lottery, allowing it to launch its micro-betting platform in the jurisdiction. The operator is also licensed in Ohio and Massachusetts.