Another sportsbook is joining the Kentucky sports betting market this year.
On Tuesday, Betr Holdings announced the Bluegrass State would be one of four new markets for its sports betting app, with plans to launch there by the end of the year. The company founded by Joey Levy and Jake Paul 18 months ago currently offers its Betr Picks daily fantasy game in Kentucky.
In a release announcing the expansion, the Miami-based gaming and media company said the launch of the fantasy app last summer has positioned it to more than double its sports betting footprint.
“Through the success of Betr Picks, we have validated that our playbook of simpler and more intuitive user experiences built for casual fans on the product front, and original short-form video built for the next generation of sports fans on social media on the distribution front, are winning strategies for rapidly and efficiently scaling a new real money gaming business in the U.S,” said Levy, who also serves as Betr’s CEO. “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.”
Besides Kentucky, Betr announced access deals in Colorado and Pennsylvania on Tuesday. It already has rights in Indiana and has applied for a license in Maryland to go with the sports betting licenses it holds in Ohio and Virginia. The company also announced it would not renew its Massachusetts license.
Sandy’s To Partner with Betr in Kentucky
Betr’s sports betting app initially focused on microbetting, also known as in-game, markets before branching out into point spreads, moneylines and totals. It plans to roll out a new version of its sports betting app later this year.
Betr Sportsbook Kentucky will receive market access — provided the Kentucky Horse Racing Commission approves its application — through a partnership with Sandy’s Racing and Gaming, which operates a historical horse racing gaming hall and is building a quarter horse track in Ashland. EBCI Holdings, the commercial gaming arm of the Eastern Band of Cherokee Indians, is co-owner of Sandy’s and an investor in Betr.
EBCI Holdings is also Betr’s access partner in Indiana through Caesars Southern Indiana.
“Betr’s innovative suite of products and user-friendly app are truly cutting-edge technology, coupled with their unique approach to marketing and broadcasting sports-related content, creating a differentiated product offering within a rapidly growing market,” EBCI Holdings CEO Scott Barber said. “We are confident our expanded relationship with Betr will be a perfect fit in the great sports state of Kentucky.”
Levy and Paul generated buzz about their $50 million startup by announcing plans to acquire bettors by developing original online content. That includes content by Paul, a social media influencer and prizefighter. The social media content is designed to attract younger adults who consume sports and media differently than previous generations.
As it was getting ready to roll out in Ohio, Betr announced it would not allow any customers to make deposits using a credit card, and it would require bettors under 25 years of age to abide by a deposit limit of no more than $2,500 per month. Those steps, Levy said at the time, were part of the company’s commitment to responsible gaming practices.
Betr Picks, the company’s fantasy game, currently is open to anyone 21 and older in Kentucky. A spokesperson for the company said its entry into the Kentucky sports betting apps market will have the same age limit when it becomes available.