Sparket gains strategic boost with Metta World Peace investment

B2B sports betting startup Sparket has announced an investment from Metta World Peace, adding the former NBA champion and his team to its cap table. The move comes at a time when Sparkbet is experiencing growth, having launched with Red Rock Resorts in June on its STN Play iCasino platform, along with a string of recent partnership announcements.

Metta will be focused on helping Sparket expand its B2B pipeline through targeted introductions in the sports industry, including introductions to the Lakers and helping the company scale through his business connections.

The partnership is formally with Artest Management Group (AMG), the company founded and controlled by the former NBA champion. AMG has "a proven track record" of helping companies accelerate growth and drive incremental value, according to Sparket

Evan Fisher, co-founder and COO at Sparket, stated: "Beyond the obvious strategic value that Metta himself brings, we've had access to Metta's AMG Board of Directors.

"Most notably, we have benefited from the opportunity to work with former Boost Mobile CEO and FreedomPop Founder Stephen Stokols, who is an AMG Director and has experience scaling and operating companies to billion-dollar valuations."

Sparket is a customizable B2B platform that offers free-to-play and pay-to-play parimutuel betting on traditional sports and alternative events. Sparket's platform can be integrated into other betting platforms, websites, and apps or act as a standalone white-label solution.

The company stated that for Metta, AMG and Stokols, the partnership crystallized as they saw Sparket's "unique positioning" in the market and growth potential.

"We're excited to help build The Social Betwork," said Metta World Peace. "The Sparket team has an amazing vision for democratizing live event wagering and with AMG's support I think we can bring this company to great heights."