Online gaming

Vivid Seats acquired Betcha Sports to enter online gambling

Online ticket marketplace Lively seats announced that it has completed the acquisition of Betcha Sports in an all-equity transaction valued at $ 25 million subject to customary purchase price adjustments.

Enter the online play area

Lively seats, a technology-driven ticket sales platform, has acquired a feature-rich sports betting app for gamification Betcha Sports, for an upfront payment of $ 25 million in Vivid Seats equity, with the option of additional payments of up to $ 40 million profit-based and payable in a combination of cash and stock.

“The acquisition of Betcha further strengthens our position as a leading market, accelerating our journey to naturally adjacent areas with engaging features that deliver unique experiences to our customers. ”

Stan Chia, CEO of Vivid Seats

Vivid Seats did not provide further details on the financial aspect of the transaction, as those will be discussed on the company’s fourth quarter earnings conference call.

The newly acquired business will expand Vivid Seats’ operations into the online gaming industry, enabling the platform to utilize its technological capabilities and attract customers by offering them the opportunity to participate in daily fantastic games.

“Vivid Seats and Betcha share a mutual commitment to helping fans experience the thrill of live events combined with an innovative new, yet simple way to play. We couldn’t have found a better partner than Stan and the Vivid Seats team, as we present a new gaming experience to millions of Vivid Seats customers.

Hanson Wong, CEO, Betcha Sports

With unique social elements that allow fans, families and friends to play in groups and an intuitive and user-friendly interface, Betcha Sports engages with both casual and super sports fans, providing them with multiple ways to immerse yourself in the action.

“Live live”

Commenting further on the transaction, Chia, CEO of Vivid Seats, highlighted the impression left by the continued growth of Betcha Sports and the excitement generated by the opportunity to “welcome the Betcha team to Vivid Seats” and ” combine their way of playing with our desire for fans all over the world ”. to experience it live.

The Chicago-based online ticketing platform offers a wide selection of events and tickets across North America, driven by its belief that everyone should “experience it live.” Vivid Seats also offers an industry-leading rewards program that allows fans to earn points with every purchase they make.

Chia also noted that the acquisition would allow “customer acquisition synergies” with Vivid Seats’ “high interest fan base” eager to leverage “collective expertise and passion” and ‘engage with fans’ through discovery, loyalty and content to deliver exceptional customer experiences.

Betcha Sports, since its inception in 2018, has established itself in the Daily Fantastic Sports (DFS) niche, seeking to differentiate itself from the competition with its easy-to-use interface, social and gamification features.