Betr Enters Virginia Market with Real-Money Sportsbook
LISTEN TO THIS ARTICLE:Microbetting operator Betr Holdings has rolled out its real-money sportsbook product in the state of Virginia.
Through the launch, bettors in the Old Dominion state can now access the Betr Fantasy & Sportsbook app on their iOS devices or the Betr Microbetting app on Android. The platform also plans to launch its Scripts product in the state.
With Virginia in the bag, Betr is now live in three states including Ohio and Massachusetts. The launch also signifies the last time Betr will introduce its V0 product. Starting next year, the operator will debut its V1 Sportsbook in new and established markets.
The new V1 OSB product will come with wider sportsbook offerings, including pre-match and in-play core markets, parlays, same-game parlays, futures, props, and various other betting options. Furthermore, over 20 additional sports will be added to the platform, aligning with Betr’s commitment earlier this year to expand beyond microbetting into various sectors.
This development was enabled through Betr’s acquisition of the Chameleon platform from FansUnite for $7.4 million in May which gave the platform access to a series of gaming solutions.
We are thrilled to continue expanding our online sports betting business by launching in Virginia just in time for the NFL season. The state has a dynamic fan base across both collegiate and professional sports. We are excited to introduce our differentiated product experience to this market while continuing to bring our leadership in responsible gaming to Virginia, just as we have done in other jurisdictions.
A Billion Dollar Market
Since it went live in 2021, the Virginia sports betting market has grown steadily, with new operators entering the market and an expanding range of sports and betting options becoming available to bettors in the state.
In July 2023, 29 months after it launched legal betting, Virginia became the seventh state in the U.S. to record over $1 billion in gross sports wagering revenue. Although the Virginia gaming regulator did not release figures for individual operators, it was stated that 11 operators saw net positive adjusted gross revenue.
It is important to note that about 14 sportsbooks operate in this jurisdiction, including the bigwigs FanDuel, BetMGM, DraftKings and Caesars.
To quickly gain market share in this state, Betr will have to differentiate itself through competitive odds and offer unique features that would appeal to Virginia's sports betting enthusiasts.
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