An innovative legal sports betting operator is launching a fantasy sports vertical.
The sports betting company aims to bring the platform — which is the first time a sportsbook and a fantasy platform will operate within a single app — to at least 30 jurisdictions by the end of 2023.
“We are thrilled to expand the Betr Gaming business by introducing our real money fantasy sports vertical with the launch of Betr Picks,” said Betr CEO and founder Joey Levy.
“Betr Picks allows us to acquire and engage real money gaming users across the United States, enabling Betr Gaming to more fully capitalize on the nationwide presence of Betr Media for the first time.”
Betr Picks provides users with the ability to make “More” or “Less” fantasy entries for player lineups based on their projections. Users can create lineups that range between two and eight players with the chance to win up to 100x per entry if all selections are correct.
As part of the Betr Picks launch, the platform is offering a free-to-play game for the Jake Paul vs. Nate Diaz bout on Aug. 5 in Dallas, Texas. The picks game, which ends on fight day, gives entrants the chance to win a share of up to $1 million in prizes.
Betr’s launch of its fantasy offering comes after the company acquired the Chameleon technology platform from sports and entertainment company FansUnite. The technology allows Betr to expand its capabilities with the opportunity to develop player prop, future, pre-match, and in-play betting markets.
Betr has emerged as a viable fantasy sports provider following the launch of sports betting operations in January. The company’s sportsbook went live with online betting sites in Ohio and has since gained market access in Massachusetts and Virginia, where it was approved for an online license in March.
The company has also drawn interest from investors. In June, the company completed a $35 million Series A2 funding round, which valued the enterprise at roughly $300 million. The round included Levy, Paul, and Fuel Venture Capital. The new funding comes after Betr raised around $50 million in 2022.