To hear more about Betr and the growth of microbetting, join the Benzinga Sports Betting Titans virtual event at 11 a.m. Wednesday, May 24 where Joey Levy and Jake Paul are featured.
Microbetting company Betr has grand ambitions of taking on the sports betting industry that has many large players. The company’s co-founders shared a stock market analogy about how they plan to accomplish their goals.
What Happened: Betr was founded in 2022 and is one of the fastest growing sports betting companies in the U.S. Co-founders Jake Paul and Joey Levy see the company learning from its competitors to make a better product.
Levy shared an analogy with Benzinga about what he said gives Betr an edge.
Levy recalled trying to bet on sports and seeing odds of -175 and knowing the everyday person wouldn’t understand what this means and how to actually bet on sports. He sought to make a product that was intuitive to the user.
“The vision on the UI/UX is to build the Robinhood to the gambling industry’s etrade, Fidelity, Charles Schwab,” Levy said.
The analogy illustrates how Robinhood was able to take on legacy stock brokers with its commission free trading, easy-to-use tools and making stock trading easy for new consumers.
Levy sees Betr as being a far simpler and intuitive platform than competitors on the market. Similar to the way it took Robinhood to create a platform for mainstream investors, Levy said he sees Betr having a similar impact.
Related Link: Jake Paul And Joey Levy's Betr Sports Betting Company Acquires Chameleon, Continues Push For Direct-To-Consumer Platform
Why It’s Important: Along with Betr creating a product that is easier to use for consumers, Levy also highlighted the U.S. market having sports like baseball and football that provide more of an opportunity for betting on pitches, at-bats, plays and drives.
“Microbetting, we think, may be the predominant way people bet on U.S. sports,” Levy said.
Levy added that microbetting isn’t bets that are small in size, but rather bets that are on small events as part of a game or a match.
These betting outcomes allow instant gratification to the consumer.
Photo via Shutterstock.
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