Betr offers zero vig
Betr, the US-based startup co-founded by Jake Paul, has announced that it will offer 0% margins on all pre-match opportunities for NCAA Men’s Basketball Tournament games.
pregame and in-game moneyline, point spread, and totals markets for March Madness
Tuesday’s offer signals Betr’s expansion into traditional sports betting markets. Betr’s wagering options now include pre-game and in-game moneyline, point spread, and totals markets for March Madness. Betr’s other co-founder, CEO Joey Levy, shared its live markets launch via Twitter:
Betr, which initially focused solely on micro-betting, aims to first establish product parity with household names like DraftKings and FanDuel. Betr intends to do this by gradually integrating and launching core markets, parlays, and props, such as with March Madness, until the brand’s betting market coverage matches its competitors.
Levy stated that the new markets will be provided by Simplebet, another micro-betting venture he helped set up.
Betr making waves
Since its launch in Ohio in January, Betr has focused on offering in-game markets in baseball, basketball, and football.
Betr’s decision to expand its betting markets, however, comes as no surprise. The Miami, Florida-based firm had previously mentioned its strategy to “layer in” other offerings late last year. With the gradual integration of more traditional betting markets, Betr’s objective is to establish itself as a serious player in the most attritional industry of them all, US sports betting.
smart way to get users to flock to its platform
In order to grow its traditional sports betting coverage by attracting more users, Betr needs to, and is, making noise in its new market. Offering 0% vig on pre-match opportunities for March Madness is a smart way to get users to flock to its platform for one of the most popular sports betting events in the US.
Betr’s meteoric rise
Betr still has a long way to go before it joins the big boys in the US sports betting industry, but Paul and Levy are determined to aim high. According to the Ohio Casino Control Commission, Betr accepted around $1.1m in online wagers in its January debut month, just a drop in the bucket of the state’s total handle of $1.1bn.
The Virginia Lottery Board approved Betr’s license for mobile sports betting earlier this month. While the Massachusetts Gaming Commission also approved Betr to offer the same, the body first subjected Paul to a grilling in January about his firm and his life, including a visit to his residence by the FBI.