Microbetting Company Betr Approved for Sportsbook License in Virginia

The Virginia license is Betr’s third after receiving similar approvals in Massachusetts and Ohio.

Mar 6, 2023 • 17:01 ET • 2 min read
Jake Paul Betr
Photo By - USA TODAY Sports

A Jake Paul-backed operator of online sports betting sites has been approved to bring its microbetting-focused brand of bookmaking to another state. 

Miami-based Betr announced on Monday that the Virginia Lottery Board had approved its mobile sports betting license. 

Betr said its real-money wagering app will be added to the Virginia sports betting mix “soon,” and will be available for iOS and Android users in the commonwealth. The company will become the state’s 16th online sportsbook when it launches.

“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,” Betr founder and CEO Joey Levy said in a press release. “This is an important milestone for us and we can’t wait to bring our differentiated product experience to sports fans throughout Virginia.” 

Betr was founded in 2022 by Levy and social-media star and boxer Paul. The Virginia license is Betr’s third after receiving similar approvals in Massachusetts and Ohio. Betr launched in Ohio on January 1 and is poised to start taking action in Massachusetts on Friday, when mobile sports betting begins in the state. 

Betr said its Ohio launch “was a success,” with the average user betting more than 25 times during January on markets such as whether the next play in a football game will be a pass or a run. That is with a ban on credit cards for deposits and mandatory deposit limits for bettors aged 21 to 25 years old, which are part of the company’s focus on responsible gambling. 

The Ohio Casino Control Commission reported that Betr handled about $1.1 million in bets during January and generated revenue of $106,439. That was just a drop in the bucket, though, as more than $1 billion was wagered in the Buckeye State during its first month of legal sports wagering.

“The company surpassed its user and revenue forecast for January despite no material paid advertising, as the company saw strong user conversion from its media business and other organic channels,” Betr said in its press release. 

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