Betr Officially Launches Real Money Sportsbook in Virginia

Virginia to be final Betr Sportsbook launch utilizing Betr's V0 product, ahead of Betr V1 launch in 2024

MIAMI, Sept. 6, 2023 /PRNewswire/ -- Today, Betr Holdings, Inc. (Betr) announced it has officially launched its real money sportsbook product in Virginia, its third real money online sports betting (OSB) state following Ohio and Massachusetts. The Betr Fantasy & Sportsbook app is available on the iOS store and the Betr – Microbetting app is available on the Google Play store. Virginia will be the final Betr Sportsbook launch utilizing Betr's V0 product, ahead of Betr's V1 Sportsbook launch in additional and existing states in 2024.

Betr's OSB launch in Virginia follows Betr's recent acquisition of the Chameleon platform from FansUnite, which enabled Betr to enhance and accelerate its product roadmap. The Chameleon acquisition allows the company to develop its upcoming V1 OSB product, which will feature full sportsbook capabilities including pre-match and in-play core markets, parlays, same game parlays, futures, props, and other bet types, along with over 20 additional sports. The company's current OSB product, which it refers to internally as V0, is a beta product that will continue to operate in Ohio, Massachusetts, and now Virginia until V1 launches in H1 2024.

Betr, founded by sports betting veteran Joey Levy and Jake Paul, began as the world's first microbetting focused app, initially featuring a user experience focused on enabling users to predict the play-by-play outcomes of every sporting event including every play and drive of all NFL and College Football games, and every pitch and at-bat of all MLB games. Earlier this year, the company announced an expansion beyond microbetting with the launch of core markets, allowing for pre-match and in-play betting for team to win, team to win and by how much, and over/under on total points. Betr's core markets will also be available for Virginia residents upon launch. As part of the Virginia launch, Betr will also include its market-tested Scripts product, which combines the instant gratification of a microbet with the long odds of a parlay. This product is a first-of-its-kind experience and effectively introduces instant gratification to parlays, which may make Scripts one of the primary ways fans bet on sports over time. Betr's app also features a reimagined user interface layer, depicting the betting markets as more intuitive multiple-choice questions, while odds are displayed in easy-to-understand payout multiples to simplify users' sports betting experience.

"We are thrilled to continue expanding our online sports betting business by launching in Virginia just in time for the NFL season," said Joey Levy, Founder and CEO of Betr. "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. 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."

Residents of 24 jurisdictions outside Betr Sportsbook's current OSB states of Virginia, Ohio, and Massachusetts can still play at Betr through the company's newly launched differentiated fantasy experience, Betr Picks, which features the ability to pick up to 8 players, higher payout multiples (up to 100x), and no pushes. Betr's signature focus on simple and intuitive product design, along with its bespoke integrations with Betr Media, distinguishes the Betr Picks experience from the broader fantasy sports gaming market and allows Betr to engage users from its nationwide Betr Media audience for the first time.

Betr Picks, which launched on July 31, has already garnered viral engagement alongside the company's Jake Paul vs. Nate Diaz fight sponsorship and special Paul vs. Diaz minigame in the app. In its first week of launch, fans boosted the Betr Fantasy & Sportsbook app to #3 of all sports apps on the App Store.

For more information on Betr, visit betr.app or follow @betr on TikTok, Instagram, and Twitter.

About Betr

Founded in 2022 by Joey Levy and Jake Paul, Betr is a leading sports betting and sports media company through Betr Gaming and Betr Media, respectively. Betr Gaming is an online sports betting and gaming business focused on a unique product experience with a simplified user experience that is catered to the casual sports fan, enabling Betr to capture more of the underpenetrated online gaming addressable market. Betr Gaming began with a microbetting-only online sports betting (OSB) product, allowing users to bet on individual plays and events – such as pass or rush on the next play in football or the outcome of the next pitch in baseball, and is expanding its OSB product offering to include additional markets with full sportsbook capabilities, as well as planning to expand into other real money gaming verticals. Betr Media is the fastest growing sports betting media brand in the United States that has grown to over 1.6 million followers, 1.6 billion impressions, and 84 million engagements across its social channels since publicly launching in August 2022. Betr is creating a unique flywheel by investing in content creators to drive brand awareness and affinity, which drives more audience and engagement with the Betr brand, allowing Betr to monetize its user base through a suite of gaming products which then enables further investment in content and brand affinity.

For more information on Betr, visit betr.app or follow @betr on TikTok, Instagram, and Twitter. To learn more about responsible play, please visit betr.app/responsibility.

SOURCE Betr Holdings, Inc.