Betr Announces New Sports Betting and iGaming Market Access Agreements

Philadelphia Eagles quarterback Jalen Hurts (1) runs past Arizona Cardinals defensive end Michael Dogbe (91) and Arizona Cardinals defensive end Jonathan Ledbetter (93) during the second quarter at State Farm Stadium.Betr today announced several sports betting and iGaming market access agreementsThe operator announced a sports betting and iGaming market access agreement in PennsylvaniaIt also announced sports betting market access agreements in Colorado and Kentucky

Betr announced a bevy of moves this morning to expand its sports betting and iGaming services throughout the country.

The operator announced a new online sports betting and iGaming market access deal for Pennsylvania, plus online sports betting market access in both Colorado and Kentucky.

Betr is currently operational in Ohio, Virginia, and Massachusetts.

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Betr Expanding Through U.S., but Leaving Massachusetts

The market access agreements come on the heels of the company applying for a Maryland sports betting license and acquiring market access in Indiana for sports betting this past November.

However, the sports betting operator also announced it would not be renewing its temporary sports betting license in Massachusetts. Betr has underperformed in the commonwealth, typically reporting less than a million in sports betting handle each month.

“The new states we have acquired market access in will offer Betr Sportsbook the opportunity to reach over 17% of the U.S. adult population by the end of this year, while Betr Picks will continue to be available to over 50% of the U.S. adult population. Finally, we want to thank the MGC for their great partnership during our temporary license period in Massachusetts and we hope to receive the honor and privilege of reentering this market at a later date,” Joey Levy, Founder and CEO of Betr, said in a press release.

In Pennsylvania, Betr secured a partnership with the Cordish Gaming Group, the gaming division of The Cordish Companies, which owns and operates casino resorts in Pennsylvania, Maryland, and Louisiana. Pennsylvania will be the first state Betr launches its Betr Casino, pending regulatory approval.

“We are very excited to partner with Betr on the launch of their first online casino,” said Rob Norton, President, Cordish Gaming Group. “Betr Casino will make a winning addition to the gaming options available to Pennsylvania players, which includes two of our own successful Live! Casino properties.”

In Colorado, Betr secured market access with Boulter Developments. Boulter Developments has also taken an equity interest in Betr. In Kentucky, the company secured market access with the Eastern Band of Cherokee Indians. The company also partnered with the tribe for market access in Indiana.

V1 Sportsbook Launch Coming in 2024

Levy said the company is also continuing plans to launch its V1 Sportsbook later this year. Betr’s V1 online sports betting product 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 data we are seeing not only suggests that we are building a large and highly profitable real money gaming and media business, but that we are doing so by bringing new users into the category. We plan on replicating this playbook for Betr Sportsbook and Betr Casino after releasing V1 of our Sportsbook later this year. By the end of 2024, we should see a further step change in our scale, while also having successfully laid the foundations of at least four distinct business units: Betr Fantasy, Betr Sportsbook, Betr Casino, and Betr Media,” Levy said.