Betr bans credit cards and adds deposit limits for under 25s
Startup micro-betting app announces new measures to enforce RG as it takes plunge ahead of US incumbents
Betr is set to ban users funding accounts with credit cards, claiming to be the first US operator to do so, as it ramps up its responsible gambling (RG) efforts.
Credit card gambling is already banned in the UK but remains ubiquitous throughout the nascent US sports betting market following the repeal of PASPA in 2018.
The Miami-headquartered startup’s co-founder and CEO, Joey Levy, announced the decision at G2E in Las Vegas yesterday, along with further measures around deposit limits for younger customers.
Levy added Betr will also become the first operator to enforce deposit limits for users that are 21 to 25 years old.
He said: “Sports betting should be about enhancing the way the mass market fan consumes and interacts with sports. The experience should be like going to the movies and paying $20 for two hours of entertainment. Watching a live game and spending $20 on Betr to make that game more entertaining.
“We will win by becoming the primary app folks use to enhance the way they watch sports. As sports betting proliferates nationwide, we have a responsibility as leaders to get this right.”
Betr launched in September this year, positioning itself as the first direct-to-consumer sports betting company to focus predominantly on so-called micro-betting such as the outcome of the next drive in an NFL game.
The initial launch is as a free-to-play version to gain brand awareness nationwide ahead of a real-money rollout starting in Ohio.
The startup, uses machine learning to price up markets in play, netted $50m in a funding round and is led by co-founder and social media star Jake Paul.
Levy recently spoke to EGR as part of a three-part special on fledgling businesses looking to disrupt the sector.