The new Betr Sportsbook is now available via a soft launch in Ohio and Virginia while its daily fantasy sports platform, Betr Picks, has added a peer-to-peer group mode to its offerings.
Twin Launch
It is not often we see launches of two different products from the same company on the same day, but Betr has done just that after announcing the soft launch of its Betr Sportsbook in Ohio and Virginia while also releasing a group mode offering through its DFS platform Betr Picks.
Joey Levy, co-founder, and CEO of Betr said: “We are thrilled to launch Group Mode for Betr Picks and to soft launch the new Betr Sportsbook.”
Competitors in Group Mode compete directly against each other and not the house. Because of that distinction, this parlay-style form of betting remains in the DFS realm and doesn’t blur the lines between a DFS platform and a sportsbook, the latter of which would require a sports betting license.
Levy also added, “Today’s two product launches represent an important inflection point for Betr – Betr Picks will now be available to 65% of the U.S. population, enabling us to welcome millions of new sports fans to Betr for the first time, while the new Betr Sportsbook puts us on a path towards ramping investing in this vertical and positions us as having made the most progress towards competing in the Online Sports Betting industry amongst the other market leading fantasy sports pick em’ operators. Significant product improvements are on the way across both Picks and Sportsbook but we are proud of the quick progress we have made here.”
The tie-in between the Betr Picks DFS platform and the Betr Sportsbook mirrors the way DraftKings and FanDuel became industry leaders so quickly as they had a preexisting database of DFS customers, all of whom were likely candidates to become sports bettors as well. Therefore, Betr Sportsbook will likely be rolled out into those markets in which the Betr Picks platform is currently operating.
New & Improved
Betr also launched its V1 Sportsbook, a more comprehensive and advanced version of its micro-betting platform. The new sportsbook includes traditional betting options such as moneyline, point spread, and totals, along with player props, futures, Same Game Parlays (SGP), and Same Game Parlays Plus (SGP+).
These features are available for both pre-event and live betting options. The latest version of Betr’s sportsbook was built on the Chameleon platform, which Betr acquired over a year ago. It has begun a soft launch in Ohio and Virginia, with plans to expand to Maryland and Indiana soon, where it has obtained temporary sports wagering licenses.
Additionally, Betr aims to launch in Kentucky, Pennsylvania, and Colorado, pending approval from state regulators. This strategic expansion reflects Betr’s efforts to broaden its presence in the sports betting market.
“When we build our own product and technology, we build competitive, market-leading products, and when we make paid user acquisition investments behind those products, we can compete for share,” Levy said. “And that’s ultimately what we plan on doing with Betr Sportsbook, and the soft launch of the new Betr Sportsbook is an important initial step for that.”
