Betr and Paysafe Team for Sports Betting App Payments  

Article ByDavid Weir

July 19, 2023

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Posted in: US Sports Betting News, Ohio Gambling News

Betr, the micro betting sportsbook app cofounded by social media star Jake Paul, has announced a new partnership with payment provider Paysafe.

The partnership aims to streamline the payment process for users, making it easier for them to place bets and collect their winnings. Paysafe top-up cards also represent a simple, responsible gambling solution.

The news comes weeks after Betr announced a $35 million funding round, despite struggling for market share and revenues, in the two U.S. markets it operates in.

Betr is currently live in Paul’s home state of Ohio and in Massachusetts. In the latter, Betr was dead last in monthly handle and in hold over May, with taxable revenues of $10,829.

The sportsbook also has a license to launch in Virginia and Indiana. Paysafe, meanwhile partners with gambling operators across 25 legal states.

“We are excited to announce our partnership with Paysafe and are looking forward to working with them as we continue scaling the Betr business,” said cofounder and CEO of Betr Joey Levy in a statement from Paysafe.

Related: The best sports betting apps in the US, a detailed guide

A Strategic Alliance

Paysafe’s collaboration with Betr is part of a broader strategy to expand its footprint in the U.S. sports betting market.

The partnership will see Paysafe providing its payment gateway and digital wallet services to Betr, enhancing the betting experience for users with faster payment processing.

“We’re proud to partner with Betr, which shares Paysafe’s own dedication to product innovation and driving the broader evolution of the U.S.,” said PaySafe exec Zak Cutler.

“We look forward to supporting the growth of Betr in Ohio and Massachusetts as well as future states by providing the operator and its customers on-the-go with an unparalleled payment experience that befits the impressive UX of the Betr app.”

The partnership is expected to be beneficial for both companies, with Paysafe gaining a stronger foothold in the US sports betting market and Betr benefiting from Paysafe’s experience and expertise in the payments sector.

Betr was also full of praise for its new partner.

“They are reliable, experienced, and share our perspective that we are just scratching the surface of product innovation in the regulated real-money gaming industry,” Levy said.

Continuing Investment

Betr clearly has investors convinced, if not the betting public in the states it operates in.

It is early in both markets, as it only launched in Massachusetts two months ago and in Ohio in January,

However, the app has been at the bottom of the handle charts in both states in recent months. In Massachusetts in June, it had a hold rate on bets of 3.97% against the state average of 10%.

It was also handily beaten in revenue by Fanatics, which is still in beta launch in Massachusetts.

On the plus side, it is a traditionally quiet time for U.S. sports betting, when states look to niche sports to bolster betting prospects, so maybe Betr is using the lull to concentrate on “betring” its offering as the start of the major sports seasons once again approaches.