Virginia welcomes Betr, launch date not yet set

The Old Dominion State now has a new promising sports betting startup joining the 15-or-so licensed companies that can provide sports gambling products legally in the jurisdiction. The brainchild of tech entrepreneur Joey Levy and media personality Jake Paul, Betr is a platform that has promised to TokTify the sports betting experience in more than one way.

First, though, the platform would need to reach more people in the United States and North America, where the brand wants to establish a firm foothold. Sharing the news on his Twitter, Levy confirmed that the Virginia Lottery has granted the company a license to launch. However, no further comments as to when this launch may actually occur have been offered.

A terse "soon" is all that Levy was willing to share at the time at least. Betr is already available in Ohio, the first state where the company was given the green light to operate. The company is also readying to launch with all licensed operators in Massachusetts on Friday, March10.

Betr is also in a good position in Indiana where the company has secured a deal with a land-based property by Caesars, but has still not garnered the necessary license from the Indiana Gaming Commission. This will come in due time as well, the company assures. In a statement commenting on the recent license approval in Virginia, Levy had this to add:

"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."

He noted that this constituted a very important development in the company’s ambitions to be recognized more broadly in the regulated market in the United States. So far, efforts to leverage the Levy-Paul brand have not been going too strongly though. The company reportedly only realized $11,000 in net revenue from its launch in Ohio so far, although neither Levy nor Paul seems to be losing their confidence.

Betr is different as it offers micro-betting, making it easier for Millennial and Gen Z gamblers to participate while supporting only a fraction of the risk at a time. Betr is treading a rather challenging landscape as well. Some sportsbooks have already crashed and burned, and specifically, MaximBet Sportsbook which failed to leverage the prominence of its lifestyle brand to power its sports betting entry. Betr is not there yet but it will certainly need to generate more revenue.

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