BetSperts Enables Crowdsourcing Of Sports Betting Advice

When it comes to betting on sports, sometimes it can feel like you’re in this entirely on your own. This can prove intimidating and even overwhelming to the neophyte bettor.

Sure, there are touts out there peddling their expertise but how do you know their level of knowledge is truly on the up and up.

Clearly, there was an opening in the market for a betting advice social media channel and that’s the gap that the owners of BetSperts are seeking to fill.

Big Money Backers

The Chicago-based startup, whose mission statement is to provide a social media platform for sports bettors, recently raised over $1 million in a fresh round of funding.

Some prominent figures in the online betting industry are backing BetSperts. The recent funding push was strongly supported by Velo Capital Partners. They are a venture capital firm located in the United Kingdom that focuses its investing on gambling investments.

Among BetSperts other financial supporters are Nymeria Capital and Bettor Capital. The latter company is headed by Dave VanEgmond. He previously served as head of strategy at FanDuel. VanEgmond also worked at Barstool Sports, helping spearhead that company's sports betting deal with Penn Gaming.

VanEgmond was also added to the BetSperts board.

How Betsperts Works

BetSperts was founded in 2019. Users of their site provide their picks for upcoming wagers. The system tracks all the picks on the same wager. Gamblers are ranked based on their past selection history and the selections those who’ve done well are given more credence.

Users of the software are able to track the developments with all wagers in order to aid them in making their own betting decision. They can search a specific team if they desire and see which of the BetSperts regulars is the most successful – and least successful – at picking outcomes involving that team.

BetSperts is even set up to enable users to offer their picks for sale to other customers on the site.

BetSperts generates revenue through premium subscription sales to their site, advertising and affiliate programs.