Joey Levy and Jake Paul's microbetting start-up Betr has announced it will be expanding beyond the vertical into new segments.
The company said that it will offer pre-match and in-play betting in its core markets ahead of the commencement of the NCAA basketball tournament March Madness. The expansion to new verticals will launch with 0% margin on pre-match markets for the tournament, which Betr said will have industry-best payouts during the event.
Co-founder and CEO Joey Levy said that the business was “excited” to be at the forefront of innovation efforts as it looks to expand its suite of product offerings.
“The core markets on Betr will be the first launch of Simplebet-powered core markets on any platform, so we are excited to be at the forefront of their innovation efforts as they continue expanding their suite of product offerings,” said Levy.
The CEO said that the decision to launch first with only microbetting was a deliberate strategy to speed up the company’s time to market – and thus enable Betr to iteratively improve its product experience according to user data and feedback.
Levy added that the second rationale of this course was 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, 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 commoditised product experiences”.
The Simplebet co-founder elaborated on the company’s future growth plans.
“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,” he said.