Betr gains market access in three US states as expansion plans ramp up

Betr has announced that market-access agreements have been struck to launch its mobile sportsbook in Colorado and Kentucky, as well as sports betting and online casino in Pennsylvania.

The market-access deal for Pennsylvania is with casino resorts owner and operator Cordish Companies, while the Eastern Band of Cherokee Indians provided a route into Kentucky.

As part of the agreement, the tribe increased its existing equity stake in Betr previously acquired through an access partnership for the state of Indiana.

Boulter Developments has also taken an equity interest in Betr in exchange for the operator entering Colorado.

The tri-state access will see Betr potentially reach more than 17% of the US adult population by the end of the year, the company said.

Miami-based Betr is currently live in Ohio, Virginia, and Massachusetts with a “beta product”, while market access has previously been secured in Indiana and a sports betting license has been applied for Maryland.

However, management has decided not to renew the operator’s temporary sports betting license in Massachusetts.

Data released by Massachusetts Gaming Commission shows Betr finished comfortably bottom of the pile for total revenue in December with just under $38,000, giving the brand a market share based on revenue of just 0.6%.

Co-founded in 2022 by YouTuber and boxer Jake Paul and Simplebet founder Joey Levy, Betr’s focus has been on offering micro-betting markets, however bosses have announced that “V1” of its sportsbook is slated to launch ahead of the 2024 NFL season.

By the end of 2024 the brand is expected to be live in seven states with its full sportsbook offering, including Pennsylvania where Betr Casino will also be available.

Last year, the company released Betr Picks to cash in on the pick’em fantasy sports craze, with the product available across 24 US jurisdictions, representing 50% of the US population.

Joey Levy, founder and CEO of Betr, said he was “thrilled” with the market-access partnerships and that Betr Picks validated the “playbook of simpler and more intuitive user experiences built for casual fans.”

He added: “The data we are seeing not only suggests that we are building a large and highly profitable real money gaming and media business, but that we are doing so by bringing new users into the category.

“We plan on replicating this playbook for Betr Sportsbook and Betr Casino after releasing V1 of our sportsbook later this year.”