Betr wants to be a major player in the sports betting market. They believe that their customers want a simpler sports betting product. Cole Rush investigates whether or not this theory can lead to real success.
A new player in the sports betting industry has emerged: Betr.
Betr is a real-money sports betting company with a focus on “micro-betting”. It is focusing on “micro betting “.” and real money sports betting.
Betr’s departure from the traditional sports betting model is due to a number of factors. The most important are the experience that users have and their preferences for sports.
Mike Denevi, Betr’s Head of Media and Alex Ursa, the head of Product were two of its first employees. Both offer new insights on the world of sports betting and what Betr hopes will redefine sports bettors.
Simple Betting
Both Alex Ursa, and Mike Denevi extol the virtues an online betting platform designed for regular users.
The traditional sports betting websites have entry barriers. It is important that users understand the odds and their meaning. Sportsbook terms are thrown around at random, so an average sports fan that hasn’t placed a wager might not know the basics.
Alex Ursa says, “The user experience is the opportunity.” Look at the advertisements before NFL Kickoff and during Super Bowl. The TV promotions of all the major operators will have multipliers. American odds do not speak to customers in the correct way. The odds are aimed at a certain audience but not for the general public .”
Ursa is right. There’s lots of jargon.
It’s intimidating to a customer. It’s confusing when you see something. When you see a sign that says ‘Bet to win up to 40 times what you bet’, but when signing on the odds are +5000. The .” doesn’t translate very well.
Betr is aiming to solve this type of issue, or a language-jargon barrier. Ursa’s team takes it one step further.
He says, “Another aspect is how we present the markets.” It’s more about conversation than transactions. Everybody loves sports. Everyone has their favorite team or player. This knowledge gives them an edge when they bet.
Mike Denevi gives an overview of Betr’s microbetting and its unique features. DraftKings and FanDuel, for example, offer similar sports betting markets.
Denevi: “Regardless of whether you are a casual or a serious sports fan or even if you don’t like sports, you can still engage with a meaningful experience. This is the future.” Steph Curry will make his next basket? The next pitch will be either a strike or a ball.
Our markets are simple to comprehend. It is easy to understand. You can also move on quickly to another bet because the wagers are resolved so fast. It almost seemed too logical when I first heard about the vision of the product. .”
Ursa continues: “Microbetting involves betting on certain events within a match. Micro-moments can be as short as the next play or pitch, or longer like the result of an inning. Moments that excite fans are the key. .”
Competition Survey
A reader who is familiar with the industry or a Betr user may ask: Can’t they just replicate it?
Betr had asked the exact same question.
Denevi says, “There already are apps that offer similar markets like DraftKings.” But the experience was quite hidden. The big players are also competing elsewhere. DraftKings, for instance, is catching up with FanDuel’s same-game-parlay. Other words, I do not think that they are focused on us at this time. They don’t see us as a danger .”
Denevi emphasizes Betr’s position as a complementary company to larger oddsmakers. Betr aims to attract a whole new market to betting, and this could help its major rivals.
Denevi confirms that they can copy our approach in certain areas, but they will face difficulties on the side of user experience. It would be difficult to copy the prices we show because that would mean big operators would have to change their approach. It’s something they will be careful about. If their model is not broken .”, they won’t fix it.
Denevi is convinced that Betr’s strengths are unique. Denevi believes that Betr has its own strengths.
We want to avoid any delays when we start accepting real money for in-play betting. We have to be prepared for the possibility of people placing their wagers in a single location or stadium. We also want to provide the best possible experience to 99% of our customers, even if they are not at the match. They may want to watch the game in a pub or bar .”
Making the Real Money Leap
Betr for iOS and Android is currently in beta. The company is free to play, but it aims soon to dominate the world of real money sports betting.
Ohio was on its list and the company is aiming to launch the service in January (the day that licensed operators can go live).
Ursa states, “We are on a trajectory of growth for new market access and launches.” We’re very disciplined about the way we approach market access. The key is to go live, and make sure that we are covering the excitement generated by Mike in the media. We then bring this into the app.
Betr’s leadership is looking to differentiate the app in order to gain a foothold in both the legal and non-legal market.
Ursa: “We are translating typical markets into easier-to-digest things.” Will the Broncos beat the Patriots by five or more points? This doesn’t dilute our micro-moments, but it gives the traditional bettors more information. Eight people will not know what the point spread is or how it functions if you talk to ten of them. That’s a big .”
In other words, small differences can have a huge impact. Ursa believes that Betr will be a popular choice among sports enthusiasts, regardless of whether they are in a real-money jurisdiction.
He says that instead of -200 or +150, we will see multipliers; win 5x your bet for example. Instead of +150 or -200, we will see multiples; for instance win 5x the bet .”
Betr’s next big step is a departure. Display and interface. Apps for real-money betting on sports are all the same. Although the look and feel of each app may vary, the navigation, menus and odds display are all very similar.
Betr wants to change that with an UI that is streamlined.
Ursa offers some anecdotal evidence.
They asked what I was working on. The friends I invited were not familiar with sports betting but huge sports fans. They were huge sports fans, so I showed them FanDuel and DraftKings apps. The app was confusing to them. After I showed them the app, within 20 seconds they knew how to use it .”
Ursa carefully analyzes the situation to identify his bias. He was a friend, and he wants to share that feeling with Betr users. It should be simple to use and understand.
Making A Media Mark
Betr wants to be a little different. This extends to how the company approaches media.
Mike Denevi wants to reach out beyond the usual social media presence of memes and get at the core of the sports fan. Jake Paul is a key part of this strategy.
We want to collaborate with all creators, whether it is Jake Paul or an influencer on TikTok whose style and voice we love. Our focus is on original content and short-form videos. “We’ve started building out quite a number of them,” Denevi states. It’s more about people on camera than a keyboard. This is the old model. “We’re here disrupting legacy sportsbooks and traditional sports media.”
Sports betting predictions and picks are social, Denevi says. There’s a lot of camaraderie from making the predictions to having your friends criticize you when they make a poor pick, to watching the final result. These are the stories that we will tell with our creators, influencers, and talent .”
Jake Paul is the most intelligent marketer Denevi has ever encountered. Denevi praises Jake Paul for his commitment and knowledge of marketing and content.
Betr has made great strides, but there is still much to do. Denevi claims that we’re only two percent from 100%, but he does not specify what it will be. We need to keep scaling this up .”
Betr’s original content is a part of this constant scaling strategy. The 100x Club Podcast, which is hosted by Marco Piemonte & Anthony Damato, provides an example. This show is a longshot parlay, and the host’s personalities are used to engage bettors that love the chance of winning big.
Bet on the Future
Betr is looking forward to a successful future with its ducks all in order.
Mike Denevi: “In one year we want to have the most followers and the highest engagement in sports betting.” We want to create a deeper connection with the audience. “These numbers are fantastic, but they’re not enough. Brand loyalty and engagement are what we’re after. First, let’s capture the audience.
Alex Ursa is aiming for a number of goals on the product front.
He says that he hopes to have several markets for real money gaming in the US live within a year. We’re not only looking for quantity, but also quality. So we’re looking for solid app store ratings. We want to be a major player on the US Sports Betting landscape. This means competing against the best players like BetMGM DraftKings and FanDuel .”
