Betr, a newly launched micro-betting app, has announced that it will ban the use of credit cards for player deposits. In doing so, Betr becomes the first US sports betting operator to ban credit cards, but it’s not really for the reason that you’re probably thinking.
Launched on September 2 to the public, Betr is still in free-to-play mode and has actually never accepted credit cards. This isn’t necessarily to curb problem betting, but more to enhance the overall experience of live betting. Betr’s founder Joey Levvy discussed the issue recently with iGB North America saying, “Sports betting should be about enhancing the way the mass market fan consumes and interacts with sports. The experience should be like going to the movies and paying $20 for 2 hours of entertainment; watching a live game & spending $20 on Betr to make that game more entertaining.”
While enhancing the live betting experience is the main point of the credit card ban, responsible gambling is definitely a factor in the decision. Levvy, and his partner in the venture – influencer Jake Paul, know their site is going to be used by a younger demographic. They’ve taken steps besides the credit card ban to address this, such as instituting relatively low deposit limits.
“We will win by becoming the primary app folks use to enhance the way they watch sports. As sports betting proliferates nationwide, we have a responsibility as leaders to get this right.”
Removing credit card payments from a remote gaming site of any kind is a risky move but, if Betr can make it work, they’ll be able to snatch up a key sports betting demographic for their site.