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Betr Adds Virginia, Launches in 3rd Sports Betting State

Perry Sandra

Update as of September 8, 2023 at 4:12 PM EDT: Read in 2 minutes and 43 seconds. Find more information on Twitter and Google News.

Kadin Shedrick #21 of the Virginia Cavaliers celebrates against the Furman Paladins during the second half in the first round of the NCAA Men’s Basketball Tournament at Amway Center on March 16, 2023 in Orlando, Florida. Mike Ehrmann/Getty Images/AFP

Betr, the popular sports betting brand endorsed by Jake Paul, revealed on Wednesday that Virginia will be the newest jurisdiction to legalize their services. Despite some challenges, the Virginia Lottery officially approved Betr as the 15th legal mobile sportsbook provider, solidifying their position among the top sports betting sites.

Betr has failed to meet expectations since its launch in Massachusetts and Ohio, disappointing those who were initially intrigued by this new brand in the competitive U.S. legal sports betting market.

Virginia sports betting and the revamped DFS product “Betr Picks” may help increase their popularity.

Joey Levy, founder and CEO of Betr, expressed excitement about the opportunity to expand their online sports betting business in Virginia just in time for the NFL season.

The road to licensing in Virginia

Betr faced some challenges during the application and launch process to become one of Virginia’s sports betting apps. However, after Golden Nugget withdrew from the market, Betr was able to secure a license to operate in the state.

In March, the company obtained a license to operate in the Old Dominion, but the rollout of the betting brand was halted due to an undisclosed SEC investigation into Jake Paul.

After paying a fine of $25,000, the Virginia Lottery continued with the licensing process, leading to the announcement on Wednesday that Betr was now live in the state.

Hopes for a better outcome

Ever since the launch of the Betr brand, it has not lived up to its expected potential. Before entering Virginia, the sports betting operator was only operational in Ohio and Massachusetts, but it failed to capture a significant market share in either state.

Betr had the lowest performance in the Massachusetts sportsbook market in July, bringing in only $155,582 in bets. Similarly, in Ohio, Betr was once again at the bottom of the market with a handle of just $313,280 in July.

In both markets, Betr not only fell significantly behind their competitors, but also received fewer bets than the amount contributed in taxes by others.

The Betr brass is hopeful that Virginia will be able to contribute to the company’s turnaround and ensure its continued viability. However, the significant expenses associated with business licenses, promotions, and acquisitions in the American market mean that Betr’s financial performance must improve in order to sustain its operations.

Betr Picks and Scripts

In an effort to enhance their brand appeal, Betr has shifted its focus to DFS. The company recently introduced Betr Picks, a fantasy experience now accessible in over 20 states across the US. This platform allows customers to select up to eight player props, offering increased payout multiples as more picks are made.

Despite Betr Picks being the favored company, Betr has decided to introduce its traditional sports betting brand in Virginia.

Betr is introducing a new product called Scripts to the Virginia market, alongside its traditional sports betting and DFS platforms. Scripts combines the quick wins of a microbet with the high odds of a parlay, offering a unique betting experience.

WagerWire partners with Betr

In other Betr news, WagerWire, a marketplace technology company, has teamed up with the microbetting sports brand to enhance the sportsbook offerings by utilizing Betr’s proprietary technology.

Levy expressed enthusiasm about partnering with the WagerWire team, as they both believe in the potential to improve the sports betting user experience through innovative products.

The collaboration between WagerWire and Betr will enable Betr users to buy and exchange live sports and fantasy bets placed in both apps. Additionally, the partnership will involve the creation of a video series to boost media exposure for the Betr brand, with the goal of increasing their market share in the industry.

WagerWire aims to offer bettors a unique opportunity to trade tickets in a secondary marketplace. This innovative approach, inspired by BetSaracen in Arkansas, sets Betr apart in the competitive U.S. legal sports betting industry.

Written By:
Perry Sandra
Perry Sandra and betting go hand-in-hand. Both are characterized by “odds”. Dave fancies himself as one of the most dedicated sports and pop-culture junkies around, to the chagrin of his family and friends. Following sports for 50 years and writing about it for 20, Dave hasn’t found a sport yet that can’t contribute to 2-3 straight hours of couch time. That search remains ongoing. As a good old Canadian boy, hockey is in Dave’s heart, as is curling sadly. But evolution is a real thing and that’s why football, baseball, and just about every sport on the planet has become a passion. Dave isn’t afraid to kill some time obsessing over politics or the far-too-frequent awards shows the consume the airwaves.