Betr enters US sports betting market with Ohio debut
Microbetting operator launches in Buckeye State after completing soft launch period with more licenses set to follow
Betr has launched in Ohio following the successful completion of a soft launch period, the microbetting sportsbook operator has confirmed.
A soft launch period began in the state on January 1, with betr launching a $1m microbetting-based promotion for all Ohio users.
Betr co-founder and YouTube star Jake Paul released a colorful video announcing the launch.
Betr CEO Joey Levy, while not as overtly demonstrative as his business partner, said he was thrilled to be launching in the Buckeye State.
“This launch marks the beginning of our gradual, methodical approach to state-by-state expansion where we will take the time necessary to discover and validate product-market-fit of our highly differentiated product experience to ensure we scale in a profitable manner,” Levy explained.
“This launch also sets a US online sports betting record for the fastest launch from company founding to a fully licensed and regulated real-money betting product, speaking to the capabilities of the betr team to execute quickly and efficiently,” he added.
The operator, which received a license from the Ohio Casino Control Commission in November, has partnered with the Hall of Fame Resort & Entertainment Company (HOFV), having confirmed? a 10-year deal with the venue operator in August 2022.
Under its deal, HOFV gained a limited equity interest in betr, with the partnership including a revenue sharing element as well as opportunities for cross-marketing, branding, and engagement with consumers of both companies.
Still in its startup phase, betr only launched as a business in August 2022, following the receipt of $50m in funding from a number of famous US sports figures.
Until today, the firm had been operating on a purely free-to-play basis in the US, having launched on that basis in September while it sought licenses.
In November, betr inked a market access agreement with Caesars Southern Indiana, and the Eastern Band of Cherokee Indians’ to enter the Indiana sports betting market.
One state where betr seems set to obtain a sportsbook license is Massachusetts, where the Massachusetts Gaming Commission (MGC) is currently considering giving the operator an untethered license.
Executives from betr gave testimony to MGC officials last week, with the regulator set to confirm or deny the license application later this week.