Winible, which offers sports betting influencers a way to monetize their picks through digital storefronts, has raised $6 million in seed funding from several investors.
The company had a soft launch last year and now counts 75,000 active subscribers who have placed $30 million in bets with around 100 sports betting influencers.
The platform lets content creators build a digital storefront to monetize their knowledge of a particular sport or team. They then sell their picks to other bettors.
Winible supports these tipsters by taking care of payment processing, subscriptions, SMS notifications, customer support, free trials, and discount codes.
The product is designed to move sports betting content creators across from platforms like Discord and Telegram and away from a “stigmatized” space where monetization is difficult.
The funding round was led by New York-based generalist fund Inspired Capital alongside participation from industry figures such as PrizePicks CEO Adam Wexler, Splash Inc. chief revenue officer Kyle Christensen, and former FanDuel marketing director Jesse Boskoff.
The round was also supported by NFL legend Ray Lewis and several unicorn founders, including David Petersen (Flexport), Michael Flaxman (Thumbtack) and Adam Lyons (The Zebra).
Winible co-founder and CEO Noah Traisman said the company’s organic growth proves there is a demand for a “reliable and innovative” platform in the space. “We’re thrilled to announce the successful $6m seed funding round, a key milestone for Winible as we revolutionize the sports betting and gaming communities,” he added.
It also operates as an affiliate and has driven more than $30m in bets placed across major US sportsbooks and daily fantasy apps.
These affiliate relationships are brokered by Winible on behalf of the sports betting influencers in exchange for a percentage cut.
“With a growing number of states legalizing sports betting, there is a new audience interested in betting insights and advice,” said Inspired Capital partner Mark Batsiyan.
“Winible helps legitimize and professionalize the work of cappers by providing the infrastructure needed to create visibility, develop recurring revenue streams, and engage with an intelligent and passionate community like never before,” he added.
Investors are set to deploy more capital into the gambling sector than ever before in 2024 but will do so in an increasingly discerning manner.
