Founded by Jack Paul and Joey Levy, Betr is a gambling startup focused on micro-betting. Ever since 2022, when the company launched its first operations in the US, Betr has been focused on growing further and disrupting sports gambling. Now, in a recent interview, the company’s CEO, Joey Levy, spoke about the ambitious growth plans of Betr and how the company differentiates itself from the competition. Levy pointed out that Betr is currently focused on three main goals that help it differentiate itself from the competition:
- Lower to no customer acquisition costs (CAC)
- Strong engagement with the users
- Community driven vitality
Following those three pillars of growth, Levy predicted that the company can grow exponentially in the next 18 to 24 months. He did not rule out significant expansion via market shares but said that Betr is “deliberately not playing the market share game at this time.”
One of Betr’s goals is growth as a media company. The CEO explained that as a media company that delivers original and short-form content led by Jake Paul, Betr can differentiate itself from the competition. This is because unique content can bring benefits when it comes to player acquisition, as well as retention. This, in turn, can result in lower to no CAC.
How Can the Company Differentiate Itself from the Rest?
Levy said that Betr is aware that it cannot succeed by just being famous as “the Jake Paul sportsbook.” Instead, he identified that the company wants to accumulate its presence with the help of famous sports personas, just like Paul. To further elevate the experience for sports fans and bettors, Paul is also backed by development experts, explained Betr’s CEO.
When it comes to micro-betting, Levy acknowledged that it is what primarily differentiates Betr within the fast-growing betting vertical. According to him, micro-betting plays a key role in user engagement. Citing data, Levy said that more than 90% of the company’s users place multiple wagers. Moreover, he pointed out that while some bettors place small bets, there is a growing number of individuals that over time increase the size of their bets exponentially. Levy pointed out that half of the bettors from January came back and placed a wager in February.
Pointing to Ohio for example, Levy said that based on data, Betr has seen a 20% conversion of its media audience to real money gambling products in approximately two months. According to him, the conversion with the help of media can be further boosted. He said that those results are strong, considering that Betr holds less than 1% of the betting market and the company is still in the process of being developed.
Betr’s CEO explained that brand awareness is significantly important for any company. Yet, according to him, Betr plans to first establish brand affinity with its audience and then explore options for brand awareness. This, he said can be achieved via a product that differentiates from the competition and at the same time is easy to use. Levy spoke about the complex sports betting options offered by some operators that feature data and processes that are “uninterpretable” for inexperienced bettors.