Betr plans to launch a traditional sportsbook in time for the 2024 NFL season, and CEO Joey Levy is already marketing the new product as easy to use.
“The new sports betting platform will offer a simpler and more intuitive product experience,” Levy said earlier this month at Benzinga’s virtual event Sports Betting, Gaming, and Esports: A Deep Dive.
Betr, founded by Levy and boxer/influencer Jake Paul, broke onto the gaming scene with a microbetting app in 2022. The company has since diversified with the daily fantasy sports product Betr Picks.
It’s also ready to market a different kind of sportsbook in a very competitive space. Betr is confident that its mix of social media and viral videos with the company’s gaming products will appeal to people and demographics looking for something different than the norm in sports betting.
Getting in the game
The company picked up $15 million in funding this year to enter the sports betting landscape.
Betr’s beta sportsbook is already active in Ohio and Virginia, and the company plans to expand to Indiana, Pennsylvania, Colorado, Kentucky, and Maryland.
“We’re going to methodically roll out the sportsbook platform in a manner where we’re looking to get to profitability on a state-by-state basis, ensuring we can cover operating expenses and minimum guarantees in each of these states before expanding further,” Levy said.
On the horizon
This is a big year for Levy and Paul.
The boxer is taking on Mike Tyson in a sanctioned event on July 20, another promoting opportunity for Betr.
There are just over three months remaining until the NFL season begins, so the sportsbook product doesn’t have long before it goes live.
There’s also an online casino set to launch before the end of 2024. Betr announced a partnership with Cordish Gaming Group in January. That will give the iGaming product a landing spot in Pennsylvania.
This is a long way to go in two years for the company.
“We’ll have a pretty diverse revenue mix across the three gaming verticals over the next few years,” Levy said.
