From its conception, through its introduction and execution, the micro-betting app created by Jake Paul and Joey Levy has always had a clear goal – to disrupt and revolutionize the sports betting market. A recent interview Joey Levy gave continues the narrative about the Betr app.
Future of Sports Betting
Joey Levy – the founder of SimpleBet – and social-media-influencer-turned-boxer Jake Paul, joined their efforts in creating the Betr app, aimed at providing higher entertainment value to the average consumer through micro-bets. Just recently Joey Levy gave an illuminating interview with ESPN in which he described just how the Betr app will be influencing and changing the sports betting scene.
For starters, during the ESPN interview, Joey Levy described how he sees the future of the market, and since he and Jake Paul are striving to disrupt the market, this is basically how the co-founder of the company sees the company’s future as well. In this sense, Levy shared that the focus of sports betting should lie on the mainstream consumer and should feel as easy and accessible as going to the movies.
This puts the emphasis more on the entertainment factor, rather than the betting mechanics, making Betr – and possibly the market, if it follows suit – much more broadly and instantly usable. This means that – in theory – the Betr-model should mean more people can start betting on sports with no requirements for prior sports betting experience. This, according to Levy, should basically translate into increased revenue for the operator, since the value for the customer would lie in the entertainment provided.
Risks of Micro-betting
Micro-betting is a relatively simple way of placing bets – it has more to do with whether the next kick will be a goal, rather than talking about the over/under or point spreads, for example. So, in that sense – it’s much more accessible. While getting down to the nitty-gritty of sports gambling can be fun for some of the more experienced bettors, micro-betting offers a much easier entry point into placing bets for a much broader range of potential bettors.
Some might argue that the nature of micro-betting might actually be making it more addictive, and Levy commented that Betr is trying to limit gambling harm by banning credit card deposits and imposing deposit limits for people aged 21 through 25. However, this mostly falls under the responsible gambling category and is by no means an end-all-be-all solution to problem gambling, as the rest of the industry is already well aware.
Levy seemed aware of this as well, further detailing that the company is employing industry experts to create an effective and robust plan to tackle problem gambling and its associated behavioral, and financial, drawbacks. So, maybe limiting people to betting within their means is a good first step, and time will tell how Betr will tackle the problem further.
While Betr offers a relatively easy entry point into sports betting, and this should increase participation overall, it’s not only a digital app company, as Jake Paul also talked about disrupting the sports media content scene as well. With his ideas to retire the “legacy media” with its uptight environment, the other branch of Betr seems to have a similar goal for its sphere of action, making content more personalized and organic.
This is sure to attract many eyeballs as fans are usually thirsty for behind-the-scenes and seeing their favorite athletes in a more natural environment. And this seems to be the common thread with Betr – disruption through liberalizing sports betting and sports content to make it more accessible and organic-feeling. Great news for proponents of sports betting, terrifying for critics.