Betr Microbetting App Eyeing Indiana As Next Target
Microbetting operator Betr is off to the races after becoming part of the Massachusetts sports betting market with an overnight launch on Monday.
Founded by Simplebet founder Joey Levy and social media star Jake Paul, Massachusetts becomes Betr’s second jurisdiction following a Jan. 1 launch in Ohio. Additionally, Betr is eyeing a launch in Indiana through a partnership with the Eastern Band of Cherokee Indians.
But the news doesn’t stop there. On May 9, the company announced the acquisition of the Chameleon platform from FansUnite Entertainment.
Betr sports betting goes live in Massachusetts
Pitched as the world’s first micro-betting app, Betr leans heavily into in-play sports betting. The app will be limited to football, baseball and basketball in Massachusetts.
For now, the online sports betting app is workin g off a one-year temporary license. The company would need a permanent sports betting license to continue doing business in the state after its one-year license expires.
Betr is one of 10 mobile sports betting apps launching in the Bay State this year. Six apps launched on March 10, and three others will launch later in 2023 or 2024.
Apps live in Massachusetts:
The three apps prepping for launch include BallyBet, Betway and Fanatics.
According to the Massachusetts Gaming Commission, the Fanatics platform, BetFanatics, will launch next week.
Acquiring Chameleon platform
The acquisition of Chameleon allows Betr to launch a fully integrated sportsbook and online casino product while saving on long-term product costs.
In a press release, Levy said he was thrilled to welcome the Chameleon engineering team to the Betr family. “This is a transformational transaction for Betr that enables Betr Gaming to fully control our ability to execute against our core strategy, while also capturing a material amount of gross margin for our business model.”
“With this transaction, we have again proven both our commitment and our ability to put FansUnite on the path to profitability. Additionally, we are pleased to continue to benefit from the tremendous potential we see in Betr through our equity stake in the company.”
With the acquisition, Betr now has access to Player Account Management (PAM), a full sports betting engine, and casino management.