Betr, an emerging player in the online gaming industry, has recently made a significant move into expanding its dynamic fantasy sports sector with the introduction of ‘pick ‘em style’ fantasy games.
Betr raised US$35 mmillion in a Series A2 round of financing
Betr set its sights on adding two verticals to its portfolio to diversify into fantasy games resulting in the launch of Betr Picks. This was after the company raised US$35 million in a Series A2 round of financing.
Betr Picks offers an exciting pick ’em style fantasy game, inviting users to make predictions on player performances. Participants can select between “More” or “Less” from a wide array of player projections to construct bespoke lineups, with the flexibility to choose as few as two or as many as eight players. The success of Betr Picks lies in the potential for users to win up to 100 times their initial entry if they accurately predict all their picks.
This novel fantasy sports platform has been launched across 24 states in the US that include major regions like California, Texas, Florida, Illinois, Georgia and North Carolina. This has the potential to reach over half of the US adult population. However, Betr has plans to extend its reach to a minimum of 30 jurisdictions by the end of 2023.
Company was founding last year by Joey Levy and Jake Paul
Founded in 2022 by Joey Levy and Jake Paul (pictured above), Betr is a direct-to-consumer sports betting company with its core focus on micro-betting. This innovative approach introduces instant gratification to the sports betting experience, offering betting opportunities during critical moments in US sports, like baseball pitches and football plays. Leveraging the technology of co-founder Levy’s company, Simplebet, Betr has moved away from traditional gambling to redefine sports and betting for the better.
Betr’s upcoming app will be launched as a free-to-play experience available in all 50 states, with licensed real money betting gradually rolling out later this year. The company has secured market access in multiple states through strategic equity-based partnerships.
To complement its betting endeavor, Betr is launching a media venture for the next generation of sports fans. Led by Jake Paul, the media company will produce exciting content, starting with ‘BS w/ Jake Paul.’ The show, featuring Jake and celebrity friends is a widely viewed sports program, providing both brand awareness and independent revenue opportunities for Betr through sponsorships and premium content initiatives.
Betr Picks will be availble in over 30 jurisdictions
Betr will focus solely on jurisdictions where fantasy gaming is legally permitted, either through statute or legal precedent. By adhering to responsible gaming practices, the company aims to establish itself as a reputable player in the industry.
Joey Levy, founder and CEO of Betr, expressed enthusiasm about the expansion of Betr with the launch of Betr Picks. He explained that the platform already delivers a robust user experience compared to existing ‘pick ’em products’ and has plans to introduce various enhancements in the near future, including more sports options, game modes, media integrations, deposit and withdrawal capabilities, and more.
The Betr Fantasy & Sportsbook app is currently accessible on iOS, with plans for an Android release in the near future. This marks a pioneering achievement as it becomes the first instance of a sportsbook and fantasy operating within a single app in Betr’s perspective.
Expansion in the US market
Betr Picks is a natural extension of Betr’s existing real money gaming business, which has already established a strong online sports betting presence in Ohio and Massachusetts, with upcoming plans to enter the Virginia market and further expand into additional jurisdictions.
The recent acquisition of the Chameleon platform from FansUnite has played a crucial role in Betr’s product roadmap development. The Chameleon platform empowers Betr to develop its upcoming V1 online sports betting product, which will offer an advanced range of sportsbook capabilities, offering various bet types, markets, and additional sports options.
Joey Levy explained that Betr Picks enables the company to acquire and engage real money gaming users across the United States, taking full advantage of the nationwide presence of Betr Media for the first time. Betr Media, a marketing subdivision, has already achieved remarkable success, surpassing 1.5 billion impressions on social media within a year of its launch.
Maintaining its commitment to responsible gaming, Betr has ensured that Betr Picks incorporates the same protective measures rolled out for its online sports betting product. These measures include a 21+ age requirement, a ban on credit card deposits for all users and deposit restrictions for young consumers aged 21-25 years old.