Football fans in Colorado could have a new sportsbook option this fall if all goes to plan.
According to its CEO, Betr plans to join the Colorado sports betting market later this year, becoming the state’s 23rd online sportsbook. Colorado is one of several new markets the company plans to operate in just before the start of the 2024 NFL season.
At the Sports Betting, Gaming & Esports: A Deep Dive event this month, Betr CEO Joey Levy indicated that the company was targeting multiple states for its sportsbook in time for week one of the upcoming NFL season.
“We plan on expanding that state footprint ahead of this upcoming NFL season.”
Despite exiting Massachusetts, Betr wants to launch in 5 new states
The announcement is part of an overall strategic plan by the company to operate in states with competitive markets.
In February, Betr ceased operations in Massachusetts after less than one year in the Bay State. The company cited market dominance and the cost of acquiring customers as reasons for its departure.
Boston-based DraftKings and Flutter-owned FanDuel regularly account for more than 60% of the total handle in that state. Betr is only currently operating in Ohio and Virginia. However, besides Colorado, Betr executives want to launch in Maryland, Pennsylvania, Kentucky, and Indiana.
Levy said the company took a cautious approach to expansion ahead of its Colorado ventures.
“We aim to get to profitability on a state-by-state basis, ensuring we cover operating expenses and market access costs before expanding further.”
Betr uses unique media tactics to attract younger bettors
The sports betting app has shown an ability to penetrate social media platforms and engage with younger, early 20s demographics. For example, Betr used viral social marketing campaigns in Ohio. Levy said that those media decisions helped its marketing initiatives.
“[Betr has been] generating dozens of original short-form videos daily that consistently go viral, resulting in unfair brand awareness and affinity.”
Levy also revealed that Betr’s betting platform will change before the 2024 NFL season. The sportsbook plans to simplify its products, including apps for Android and iPhones and its website.
The NFL season begins on Sept. 5 when the Baltimore Ravens visit the two-time defending Super Bowl champion Kansas City Chiefs. The Denver Broncos open their season on Sept. 8 on the road against the Seattle Seahawks.
