The final state launch for 2023 for the Betr Sportsbook has seen the Jake Paul founded company go live in Virginia.
Expansion into Virginia marks the company’s third state launch, and the company has announced it will be the last for the calendar year, and as such the last utilizing Betr’s ‘V0’ product. Betr will look to expand into additional states, launching Betr’s V1 Sportsbook in 2024. Betr’s Virginia sports betting expansion adds to existing licenses in Ohio and Massachusetts.
The company recently acquired the Chameleon platform from FansUnite, which will be utilized in building the V1 online sportsbook product, which it has announced will feature a full suite of features typically expected from a modern mobile sports betting app. It will include an additional 20 sports, plus pre-match, in-play markets, parlays, same game parlays, futures, props and other bet types per the release. The current product is in beta, and will be used until H124 when the new mobile app is expected to launch.
Joey Levy, Founder and CEO of Betr commented: “We are thrilled to continue expanding our online sports betting business by launching in Virginia just in time for the NFL season. Virginia will be the final state where we launch V0 of the Betr Sportsbook, before rolling out our V1 Sportsbook product in existing and new states next year.”
He continued: “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. 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.”
Betr has thus far delivered disappointing results. For July, it recorded just 0.1% market share in Ohio’s mobile sports betting market. In the MA online sports wagering market, it only achieved 0.5%. Virginia does not report operator level data so Jake Paul fans will be safe from further disappointment. The company was initially announced with a pure micro-betting focus. When leadership realized it wasn’t a feasible business model at the time, it pivoted to provide core betting markets too.
Betr also outlines that it is live in 24 jurisdictions outside of Virginia, Ohio and Massachusetts with a newly launched fantasy product.