Joey Levy on Betr’s international ambitions and 2023 performance

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Betr CEO Joey Levy has told SBC that the firm could one day bring its micro-betting and sportsbook platform to Latin American markets. 

Levy stated that while there are no immediate plans for international expansion, Betr is always monitoring global developments and may enter Latin America in the future. 

He explained: “Betr is laser-focused on the US at this time. However, we do have ambitions to one day become a global business, so we are evaluating opportunities globally including those in South America.

“Betr is currently not operating internationally. But more generally, challenges with live betting is often times related to the availability and quality of real-time data.”

Levy spoke with SBC ahead of his appearance at next week’s SBC Summit Latinoamerica which takes place in Miami, where he will speak on a session focusing on micro-betting. 

A key strand of micro-betting is how it offers instant moments for sports fans all through a game, and how it can be used as a key player retention tool as operators seek to hold onto those they spent so much money to acquire. 

Levy explained that micro-betting is “intrinsically linked” with gamification and that both represent “an important part of the future of sports betting”. 

He added: “Micro-betting introduces instant gratification to the sports betting experience and essentially creates a game within the game. For example, with micro-betting on baseball, every pitch and plate appearance begins to matter – not just the match outcome. 

“And on an even more granular level, plate appearance markets themselves fluctuate in price, as the probability of a Walk is higher on a 3-0 count than on a 0-2 count, creating an additional level of gamification that did not previously exist.”

Betr first came to market back in January when it entered Ohio, the home state of co-owner Jake Paul. It has subsequently launched in Massachusetts, Virginia and Maryland, testing its product before launching what it calls “V1” in 2024. 

The firm also launched Betr Picks, a fantasy product, in 24 US states ahead of the NFL season which is helping the firm build a national brand that can truly harness Paul’s star power. 

For Levy, 2023 has been a year of building important foundations ahead of taking its newly acquired Chameleon platform live next year and building upon strong performance for Betr Picks. 

He concluded: “We successfully launched our beta product in a handful of jurisdictions for regulated OSB this year. We then acquired our PAM provider which also came with a full turnkey platform, which will serve as the foundation for our V1 product which we remain on track to launch in 2024. 

“Given the geographic reach of Betr Picks and given this is the first product we have designed and developed ourselves, we are allocating nearly all of our product and marketing resources towards Betr Picks until we launch V1 of the Betr Sportsbook next year. 

“Betr Picks has significantly outperformed forecast and we have already more than doubled our end-of-year revenue run-rate guidance for 2023. We will evaluate international markets over time, but we remain laser-focused on the US for the foreseeable future.”