After launching in Ohio and readying to launch in Massachusetts this week, betr has obtained a sports betting license in a third market.
The Virginia Lottery approved betr for a mobile sports betting license. There are currently 15 operators in the state with no cap on potential licensees.
“We’re thrilled to receive approval for our sports betting license in Virginia, and appreciate the seamless work with the Virginia Lottery Board to bring our product to customers in Virginia,” said Joey Levy, Founder and CEO of betr. “This is an important milestone for us and we can’t wait to bring our differentiated product experience to sports fans throughout Virginia.”
Betr’s approach to sports betting is to offer a differentiated product focused on micro-betting and a more approachable idea of what a betting app is.
So far, that has not translated into much in the way of revenue. In two weeks of accepting deposits, betr accepted just over a million in wagers and generated $106,000 in revenue. However, that came along with $95,000 in promotional credit, resulting in net revenues of $11,160.
That being said, betr and Caesars were the only two operators in the state to generate more in revenue than they spent in promotional credit.
Massachusetts, where betr is set to launch next, recently allowed for affiliate marketing in the state, but it appears betr is one of two operators who will not be working with affiliates to market the app in the state.
