Betr, the company famously represented by social media star Jake Paul, has announced it will expand its betting options beyond micro-betting. This move comes on the heels of gaining a Virginia sports betting license and planning a launch in Massachusetts.
The company will expand its betting types to include pre-game and in-game bets on:
- Which team or player will win
- Spread bets
- Over-under bets
Betr CEO Joey Levy said in a statement:
“We are putting Betr on a path to establishing betting market coverage product parity with incumbent operators, which will include the gradual and methodical integrations and launches of core markets, parlays, props, and many of the other betting experiences consumers can find elsewhere.”
Betr offering a 0% margin promo for NCAA tournament
Betr’s decision to expand beyond micro-betting is part of its strategy to expand to new markets. The company is prepping to launch in Massachusetts and Virginia.
The move comes at an opportune time for the company because March Madness is in full swing. To get more handle, the company has said it is offering a 0% margin on all pre-game bets. The company is saying it’s taking no commission on pre-game bets. By doing so winning bettors can take home a maximum payout.
Additionally, Betr pushed an NCAA tournament bracket contest that will award $1,000 to the winner of the free-to-enter competition.
Was micro-betting a failed experiment or a purposeful gimmick?
Interestingly, Betr is branding this shift as if it were all a part of the plan. Levy said the company “deliberately” launched with just micro-betting so it could get to market faster and build its brand.
“We deliberately launched with only micro-betting to… launch as soon as possible, enabling us to learn from and iterate our product experience according to real user data and feedback, and to … establish ourselves as the company, product, and brand synonymous not just with instant gratification betting, which we believe will be the future of this industry,”
Levy said, “but to also be synonymous with doing things differently and being the first direct-to-consumer operator in the category to actually differentiate its product experience in an industry dominated by commoditized product experiences.”
You could view the move to expand to the usual types of sports bets in two ways. First, Betr’s micro-betting experiment failed after its big launch in Ohio and the company is expanding its offerings to keep up with competitors.
Or, second, micro-betting was just a gimmick to get establish Betr in sports betting markets. And not an innovative gambling option meant to be the core of the company’s operations.