A few months ago, YouTube star-turned-boxer Jake Paul and his entrepreneur friend Joey Levy invested $50 million in a start-up called Betr. The project in question is actually a micro-betting app that allows users to place wagers on prop bets in live events. So far, users could do this only for fun, but starting January 1, 2023, some of them will be able to micro-bet for real money.
The first day of the new year is when legal sports betting will kick off in Ohio with 25 licensed gambling sites set to go live. One of those sites is Jake Paul’s Betr.
Betr to Become the 1st App for Micro-Betting with Real Money
Jake Paul and Joey Levy teamed up to fund Betr, an innovative start-up that’s meant to cash in on the sports betting frenzy that’s been happening in the United States. As more and more states make this gambling activity legal and regulated, sportsbook operators are turning incredible profits.
Betr is supposed to bring its founders a great turn on investment but through a bit different angle. Rather than letting the users bet on the outcome of sports events – as regular sportsbooks do – Betr is focused on micro-betting.
If you’re not familiar with the term, micro-betting is an activity in which you put your money on bets that are going to be settled within minutes or even seconds.
Micro-Betting Explained
With regular sports betting, you put your money on the outcome (or some other market) of the game. For the bet to settle, you need to wait for the game to finish. With micro-betting, you bet on live events, that is, the games that have already started.
You have this option in regular sportsbooks as well, in the live betting section. That’s where you can bet on the outcome, the total number of goals, and so on. With micro-betting, however, you get to bet on stuff that is going to be settled much quicker.
Some examples of micro bets include:
- Team to score the next point(s)
- Player to make the next foul
- Method of the next point
- Correct score at the end of the current minute
- Result (1X2) in the next five minutes
With micro-bets, you don’t have to wait long before your bet is settled. This means that you will get your winnings quickly as well. This means that you can then continue micro-betting until the final whistle.
As you can see, micro-betting is a gambling activity that will keep you glued to the screen. You need to be involved actively, rather than just passively watching the game.
