What you need to know

• As of February 16, 2024, Betr Holdings, Inc. d/b/a Betr is no longer a licensed sports wagering operator in Massachusetts. Betr was originally awarded a temporary, one-year Category 3 Sports Wagering Operator License on February 23, 2023 and opened its Massachusetts sportsbook on April 25, 2023.
• The sports wagering operator licensing fee for a 1-year license is $1 million. Category 3 Sports Wagering Licensees are taxed on 20% of gross sports wagering revenue.
• Betr’s Category 3 Sports Wagering Operator License was not tethered to any Category 1 or 2 Sports Wagering Operator License.

About the Gaming Establishment

Description from the Licensee:

Betr is the first direct-to-consumer sports betting company to focus predominantly on microbetting, a new form of betting that enhances the sports betting user experience by enabling the moments that drive U.S. sports consumption – such as pitches & at-bats of baseball games and plays & drives of football games – to become discrete betting opportunities. Betr believes microbetting will ultimately emerge as the predominant way consumers bet on U.S. sports, given (1) the stop-and-start cadence of U.S. sports lending itself perfectly to this style of wagering, and (2) similarly to how daily fantasy sports innovated on top of season-long fantasy, microbetting introduces an order of magnitude greater level of innovation to the current sports betting user experience.

Betr is poised to become the consumer company, product, and brand associated with simple and intuitive sports betting user experiences, which it believes will ultimately make it the category-defining company.

Betr fully understands the dangers associated with problem gambling and is devoted to providing a platform that provides consumer protection and allows players to enjoy gambling responsibly within their own limits. Accordingly, Betr’s platform is equipped with tools to support responsible play and to give players control over their gambling. The tools designed to support responsible play include, but are not limited to, allowing players to set time limits on the access to their account each day, deposit limits to establish how much money can be deposited into an account within a given time period, bet limits to minimize how much money players can bet within a given period, maximum bet limits to set how much money a player can risk on a single bet, a timeout function to allow players time for “cooling off,” and the option to self-exclude from Betr gaming products. Betr knows that establishing a responsible gambling environment is a team effort that cannot be achieved without trained and qualified employees. All Betr employees are trained and educated on the importance of responsible gaming and how to assist those needing it. The training provides them with the knowledge and skills to promote responsible play and how to respectfully direct customers to the available tools and resources if there are concerns about their gaming behavior.

Betr is firmly committed to donating 10% of our annual NGR in Massachusetts for our first 5 years of operations to charitable and non-profit organizations and causes, particularly those that work with workforce development for those communities that suffer from high unemployment or underemployment within the Commonwealth.

To learn more about Betr, visit its website.

The Sportsbook

Quarterly reports

• 2023: Q2 | Q3 | Q4