Microbetting operator Betr has secured market access deals in Colorado, Pennsylvania and Kentucky and has outlined its expansion plans for 2024.
Betr has agreed deals for online sportsbook and casino in Pennsylvania and for online sportsbook in Colorado and Kentucky.
In Pennsylvania, Betr’s agreement is with the Cordish Gaming Group, which is the gaming division of The Cordish Companies. This is where Betr will debut its Betr Casino product, pending regulatory approval.
Cordish Gaming Group operates resorts in Pennsylvania, Maryland and Louisiana.
Rob Norton, president of Cordish Gaming Group said Betr Casino will add to its existing online casino portfolio.
“We are very excited to partner with Betr on the launch of their first online casino,” said Norton.“Betr Casino will make a winning addition to the gaming options available to Pennsylvania players, which includes two of our own successful Live! Casino properties.”
Betr’s online sportsbook agreement in Colorado is with Boulter Developments, pending licence approval from the Colorado Division of Gaming. Additionally, Boulter Developments has taken an equity interest in Betr.
“Boulter Developments is excited to be partnering with Betr in the wonderful state of Colorado, pending licensing approval from the Colorado Division of Gaming,” said Steve Boulter of Boulter Developments. “Their innovative approach to the gaming space, along with their intuitive product and rapidly growing media arm, make this a no-brainer partnership for us.
“Further, we are thrilled to be equity partners as we firmly believe Betr is the future of sports gaming in America as they continue to make sports and betting, Betr.”
Eastern Band of Cherokee Indians ups equity stake
Betr has secured its Kentuckian online sportsbook deal with the Eastern Band of Cherokee Indians.
As part of the deal, the Eastern Band of Cherokee Indians has increased its equity stake in Betr. This was previously secured through an online sportsbook market access deal related to Betr’s launch in Indiana.
“Betr’s innovative suite of products and user-friendly app are truly cutting-edge technology, coupled with their unique approach to marketing and broadcasting sports related content, creating a differentiated product offering within a rapidly growing market,” said Scott Barber, CEO of EBCI Holdings, the Eastern Band of Cherokee Indians’ gaming entity.
“We are confident our expanded relationship with Betr will be a perfect fit in the great sports state of Kentucky.”
Betr will not renew Massachusetts temporary sports betting licence
Outlining plans for the year ahead, Betr announced that it will not renew its temporary sports wagering licence in Massachusetts. Instead, it said it is “trading” Massachusetts’ population of seven million people for the cumulative 23 million people in the new states “for collectively less economics than it would have required to renew in MA alone”.
By the end of 2024, Betr plans to be live with its sportsbook in Pennsylvania, Ohio, Virginia, Indiana, Maryland, Colorado and Kentucky. It also plans to be live with Betr Casino in Pennsylvania.
Joey Levy, co-founder and CEO of Betr said the year should end with Betr having enhanced its four separate divisions.
“We are thrilled to announce our new market access partnerships for sportsbook and the introduction of Betr Casino in 2024 ahead of our V1 Sportsbook launch,” he said. “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.
“By the end of 2024, we should see a further step change in our scale, while also having successfully laid the foundations of at least four distinct business units: Betr Fantasy, Betr Sportsbook, Betr Casino and Betr Media.”
Levy co-founded Betr with social media personality Jake Paul. It launched in August 2022, having raised $50m in funding prior to the launch across two funding rounds. In September 2022, it launched a free-to-play micro-betting app and the following month it became the first US online operator to ban gambling on credit.
