Betr Holdings announced that its Betr Sportsbook has officially launched in Virginia. It is the operator’s third online sports betting state after entering Ohio and Massachusetts.
Betr received its license in March as the 15th operator to enter the Virginia sports betting market, completing the process of taking over the Golden Nugget license.
Sports betting executive Joey Levy and social media star and professional boxer Jake Paul founded Betr Holdings last year.
Betr Sportsbook launches in Virginia just in time for NFL season
As the NFL season starts tonight with the Kansas City Chiefs hosting the Detroit Lions, Betr Sportsbook will be available to Virginians.
Levy, founder and CEO of Betr, said in a Betr Holdings press release:
“We are thrilled to continue expanding our online sports betting business by launching in Virginia just in time for the NFL season.
The state has a dynamic fan base across both collegiate and professional sports and we are excited to introduce our differentiated product experience to this market while continuing to bring our leadership in responsible gaming to Virginia, just as we have done in other jurisdictions.”
Players can access the app on iOS and Google Play stores.
Virginia is the final state to launch Betr’s V0 product
According to Levy, Virginia will be the final state utilizing Betr’s V0 product ahead of Betr’s V1 Sportsbook launch in additional and existing states in 2024. The new version is a result of Betr’s recent acquisition of the Chameleon platform from FansUnite, which empowered the US operator to improve its product.
Betr has also entered the fantasy sports market by launching Betr Picks in 24 US jurisdictions.
Although it is the third online sports betting state, Virginia marks Betr’s 27th jurisdiction. As Levy said:
“This now marks the 27th jurisdiction Betr is live for real money between having recently launched Betr Picks in 24 jurisdictions and being live with V0 of Betr Sportsbook in Ohio, Massachusetts, and now Virginia.”
Will the Virginia sports betting market be better for Betr?
According to the Virginia Lottery’s July report, 12 operators in the state showed a net positive adjusted gross revenue, which led to $4.1 million in tax payments.
In July, the Virginia sports betting handle (total bets) equaled $293 million, out of which the operators generated $28.2 million in revenue.
How much of that market share will go to Betr remains to be seen. Although Levy and Betr show internal optimism for its future markets and are eager to enter Virginia, the US operator didn’t show its best performance during July in the two states where it is live.
In Massachusetts, Betr announced a betting handle of $155,582 while ranking the lowest among the sports betting operators in the state. For the comparison, the top performer was Fanatics Sportsbook, generating $2.3 million in total bets.
Meanwhile, in Ohio, Betr stated its betting handle throughout July totaled $313,280, again placing it at the bottom of the Ohio operators’ list. DraftKings was the most successful, accepting $116 million in total bets.