• Sports-betting and gambling companies have raised $150 million from VCs so far in 2023, according to PitchBook data.
• Digital-lottery company Jackpot.com leads all startups in the sector with $42 million in new funding.
• The list includes companies in sports betting, casino technology, and even horse DNA.

The flow of funding to US sports-betting and online-gambling startups has slowed in the past two years, but companies including the digital lottery site Jackpot.com and the Joey Levy and Jake Paul-backed betting platform Betr are still managing to attract significant investment, new data from PitchBook shows.

US sports-betting and gambling startups have raised about $150 million in VC funding through mid-August of this year, per PitchBook, which tracked 25 deals during that time frame.

By comparison, $160.3 million worth of VC deals were disclosed in the sector during the first half of 2022, and $186.2 million were tracked in the same period of 2021, per PitchBook.

Some venture capital firms have remained active in the space. Roger Ehrenberg’s Eberg Capital invested in three of the startups that raised funding this year, while other firms including Arctos Sports Partners, Bettor Capital, and Courtside Ventures also got in on the fun.

Here are the top 11 companies that have gotten the most funding in 2023 through mid-August, according to PitchBook:

1) Jackpot.com — $42 million. The company closed in early January an extension to its Series A round from a large number of investors, including teams like the Dallas Cowboys and New York Yankees and owners of several others, and players like James Harden and Joel Embiid. The website allows users to buy official digital lottery tickets.

2) Betr — $35 million. The online sports-betting app cofounded by internet sensation Jake Paul and gambling entrepreneur Joey Levy finalized in late June an extension to its earlier Series A round. Betr, which was valued in that round at around $300 million, is the highest-valued company on this list and the only one in triple-digits.

3) Acres Manufacturing — $29.6 million. The more than 50-year-old casino technology and data company closed the investment from VCs. Acres announced in March its Ticket In Bonus Out function, the “first feature upgrade to casino ticket redemption technology” in decades, according to the company’s website.

4 – tied) Champions Round — $10 million. Champions Round, the content-creator-focused fantasy sports platform, made a splash when it said it raised $7 million in a Series A round earlier this year, bringing its total funding to $10 million.

4 – tied) Prophet Exchange — $10 million. Prophet Exchange, a peer-to-peer betting exchange that allows users to bet against one another rather than the house, announced its latest fundraising round in April.

5) Boom Entertainment — $5.9 million. Boom Entertainment, the second-highest valued startup on this list at around $70 million, closed a Series B round backed by Oyster Ventures and Touchdown Ventures. The casino and sportsbook tech company offers more than 10 different gambling games.

6) Kero Sports — $5 million. Eberg Capital, IA Sports Ventures, and Ikigai Ventures backed a third seed round for the in-game betting platform. Kero Sports powers gambling and free-to-play gaming products inside sports apps, including working with pro sports teams.

7) PlayerProfiler — $2.5 million. This company is all about fantasy football. PlayerProfiler provides advanced stats and analytics, hosts daily livestreams and a podcast, and features articles from writers with fantasy news and advice. PlayerProfile closed on its seed round.

8) Etalon Diagnostics — $2.2 million. The horse DNA-testing company offers customers a “build-a-horse” tool, selecting genetic traits for a foal and then choosing from potential mares and stallions with corresponding characteristics. It closed its later-stage round in January.

9 – tied) Alt Sports Data — 2 million. Eberg Capital and Trinity West Ventures led the second seed round for the sports-betting-data company.

9 – tied) Oddsworks — $2 million. Oddsworks, a gaming company offering more than 100 games for online and land-based casinos, raised early-stage funding.