Betr Picks Joins Fantasy Sports Products Amid Industry Backlash
Betr has announced the launching of Betr Picks, a daily fantasy sports product. This marks the first time that a sportsbook and fantasy will operate within a single app. Fans in more than 24 markets including Florida, Illinois, Georgia, North Carolina, California, and Texas can access the product. However, fantasy products like the one Betr plans to offer have been criticized recently for running sports betting illegally under the guise of fantasy games.
Operators like PrizePicks and Underdog Fantasy have seen backlash from regulated sportsbooks and state regulators themselves for similar product offerings. Could Betr Picks see similar scrutiny with its product?
DFS Launch Leverages Betr Popularity
The DFS product on offer on the Betr mobile app will see users build lineups of up to eight players (and as few as two players). Fans will select player projections, similar to player props at the best sports betting sites, and correct selections will result in major payouts.
“We are thrilled to expand the Betr Gaming business by introducing our real money fantasy sports vertical with the launch of Betr Picks,” said Joey Levy, Founder and CEO of Betr. “Betr Picks allows us to acquire and engage real money gaming users across the United States, enabling Betr Gaming to more fully capitalize on the nationwide presence of Betr Media for the first time, all while providing a complimentary pre-match experience to our in-play focused OSB product.”
The launch of Betr Picks allows the popular sports media outlet to expand its offering to its large user base. Now the company can leverage its popularity while growing its brand offering at the same time. Betr has been working to eventually launch its micro-betting product in some markets. This DFS launch is a more major launch across the country.
“We believe Betr Picks already features a strong core user experience relative to existing pick ‘em products, and we have several material enhancements that will be released over the coming weeks and months including more sports, game modes, media integrations, deposit and withdrawal capabilities, and more.”
But regulated sportsbooks and some state gaming commissions have begun to call out products like Betr Picks, Underdog, Prize Picks and Sleeper for including sportsbook-style wagering in a DFS product.
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BetR Picks Looks Very Similar To Prop Betting Parlays
Users need to be 21 years old or older in order to access Betr Picks. Betr Media provided TheLines.com with a look at the app. Unlike daily fantasy contests that feature a set number of users competing for a set amount of prize money, Betr Picks appears to give users the ability to parlay props together, like a user might be able to do at a regulated sportsbook.
Full List Of Markets To Host Betr Picks
- New Mexico
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington DC
Backlash Builds Against Props Parlays IN DFS Products
In several markets, regulators have begun cracking down on DFS products that essentially offer player prop betting. Wyoming in particular has ordered PrizePicks and Underdog Fantasy to cease operations for violating sports betting laws. Wyoming is one of the markets that Betr Picks had planned for its launch.
“The Wyoming Gaming Commission became aware that your business offers gambling on sporting events to Wyoming residents,” both letters read in response to Prize Picks and Underdog, “Specifically, your business purports to offer fantasy sports contests but, in reality, the offering appears to fall under the exact definition of “sports wagering” as defined in Wyo. Stat. Ann. § 9-24-101(a)(xii). This offering may violate Wyoming’s gambling laws found inWyo. Stat. Ann. §§ 6-7-101 through -104, §§ 9-24-101 through -106, and Wyoming Gaming Commission’s Online Sports Wagering Rules, Chapters 1 through -9.”
If deemed in the same light as the other fantasy operators, Betr Picks could end up on the outs in Wyoming as well. This fantasy business model has begun seeing backlash across the industry. It will be interesting to see how Betr navigates this shift.