#United States #New York #Coinbase #Billy Bets #AI Sports Betting

Billy Bets: A Game Changer in Sports Betting

Billy Bets, a promising startup in the sports betting domain, has recently made headlines by securing a substantial $1 million in funding during its pre-seed round from Coinbase Ventures, along with contributions from Virtuals Ventures, Contango Digital, CMS Holdings, and notable figures from the athlete and crypto sectors. This influx of capital is set to propel the launch of Billy Bets’ innovative product, the Billy Terminal, which aims to revolutionize how fans engage with sports predictions through AI.

The sports wagering industry is enormous, with over $250 billion in annual bets. Surprisingly, less than 1% of these are processed by AI systems within prediction markets. Joe O'Rourke, co-founder and CEO of Billy Bets, identifies this gap as a significant opportunity, stating, "That inefficiency is our wedge. AI agents have already changed investing; now they're coming for sportsbooks. Billy Bets will turn that small sliver into the default way fans bet."

What is Billy Bets?

Billy Bets combines the power of AI and blockchain technology to enhance sports betting experiences. Built on Coinbase’s Layer 2 solution, known as Base, the platform allows users to discover betting opportunities across various prediction markets, such as Kalshi and Polymarket. Billy simplifies the betting process by routing wagers to obtain the best prices and enabling customized automated betting strategies.

One of the standout features of the Billy Terminal is its natural language processing capabilities. Users can simply ask the terminal for specific betting insights — for instance, requesting odds for positive expected value (plus-EV) NFL prop bets — and receive live data, automated execution, and real-time tracking of returns on investment (ROI). Since the launch of the Billy Terminal in June, the platform has routed over $1 million in betting volume, achieving an impressive growth rate of 23% per week.

The Role of AI in Sports Betting

The core mission of Billy Bets is to facilitate and enhance users' betting strategies using artificial intelligence. According to Jared Augustine, co-founder and Executive Chairman, the future of sports betting rests heavily on AI advancements. He believes, "Fundamentally, we believe all sports bettors will eventually rely on AI to improve their chances, particularly so with the advent of prediction markets, and we aim to be the best supplier of that agentic technology."

Billy Bets employs proprietary machine learning models and processes vast amounts of data in real time to identify the greatest betting opportunities at competitive prices. The platform allows users to either follow these predictions individually or leverage one of Billy's automated strategies to place bets instantly from their digital wallets.

A Look Ahead

With the successful closure of this funding round led by Coinbase Ventures, Billy Bets is poised to become a leading player in the rapidly evolving sports betting market. The company aims to not just provide users with insights but also foster a community where AI-driven strategies are the norm in the betting landscape. The ultimate goal is to empower bettors and provide them with innovative tools to enhance their betting experiences.

As Billy Bets continues to develop and refine its offerings, sports enthusiasts should keep an eye on this groundbreaking company that aims to disrupt a $250 billion industry. For more information, visit billybets.ai and follow their journey @askbillybets and @billybets_ai on social media.