Betr

Company Development

Betr launched with the idea of combining real-time betting with short-form sports media. Levy contributed product and infrastructure experience from Simplebet. Paul brought distribution through his existing audience. The first version of the app offered only micro-bets, such as predicting the outcome of the next play in NFL or MLB games.

In May 2023, the company acquired the Chameleon platform from FansUnite. The deal included a player account management system, sportsbook engine, risk management tools and iGaming modules. Acquiring the technology allowed Betr to move away from third-party providers and develop a full sportsbook under its own infrastructure.

Product Portfolio

Betr Sportsbook is the company’s core betting product. It offers standard markets including moneyline, spreads, totals, player props and same-game parlays. Micro-betting remains available, but the sportsbook has been expanded to cover full pre-match and in-play markets.

Betr Picks operates under daily fantasy sports regulations. Users select player statistics rather than building traditional betting slips. The Group Mode feature enables peer-to-peer competitions between users instead of only playing against the house.

The company also produces short-form sports content. This media arm is designed to lower user acquisition costs and generate organic traffic for its betting products.

Technology and Operations

Chameleon is now the foundation of Betr’s technology stack. It provides player account management, payments, compliance tools and GLI-certified modules. This setup allows Betr to scale faster across new states than operators relying on outsourced systems.

Micro-betting drives the company’s product design. Fast settlement, real-time data and low-latency infrastructure are central to how the platform operates.

Markets and Licensing

Betr follows a state-by-state strategy in the United States. The sportsbook is currently available in Ohio and Virginia. Betr Picks is live in roughly 30 to 35 jurisdictions as a fantasy sports product, enabling user acquisition beyond fully regulated betting states.

Betr does not operate in Europe and does not yet offer online casino games. Expansion into iGaming is planned but not yet active.

Funding and Ownership

The company raised around 50 million dollars during its launch phase in 2022. In 2023, it secured a 35 million dollar round at a valuation of approximately 300 million. Media reports in 2024 indicated a further capital raise at a valuation near 375 million. Investors include Eberg Capital, Fuel Venture Capital and several sports technology funds. Betr has not disclosed plans for a public listing.

Leadership

• Joey Levy – Co-founder and Chief Executive Officer

• Jake Paul – Co-founder

Market Position

Betr does not compete through large bonuses or extensive betting markets. Its model focuses on lower customer acquisition costs, high engagement frequency and streamlined user experience. The platform is built around quick bets, simple navigation and integration with digital sports content.