- Legal States
Jerome García October 12, 2022 3 min read
Betr Bans Credit Cards and Enforces Deposit Limits
The fast-growing micro-betting application, Betr, boosted its responsible gambling efforts earlier this week. On Monday this week, during the Global Gaming Expo in Las Vegas, the company revealed that it decided to ban funding of sports betting accounts with credit cards.
Leading Micro Betting App Bans Credit Cards
The effort comes just ahead of the Gambling Harm Awareness week set between October 17 and October 23 this year. Additionally, Betr added further measures to protect young adults by implementing deposit limits. The deposit limits will be targeting the younger demographic, aged 21 through 25, and will seek to protect them from potential harm. The bold decision to ban funding of sports betting with credit cards makes Betr the first US sports betting operator to implement such a restriction.
Joey Levy, the co-founder and CEO of Betr, revealed on Twitter that besides being the first operator to ban credit card depositing for user accounts, the company is the first to enforce a deposit limit for the younger demographic. He explained that sports betting should be an activity that complements the experience for fans. Levy acknowledged that sports betting shouldn’t be much different than a night out for a movie, where customers pay $20 for 2 hours of entertainment. He added that spending $20 for a sports betting event undoubtedly makes the game more entertaining.
“Sports betting should be about enhancing the way the mass market fan consumes & interacts with sports. The experience should be like going to the movies & paying $20 for 2 hours of entertainment. Watching a live game & spending $20 on Betr to make that game more entertaining.“Joey Levy, founder and CEO of Betr
Betr’s CEO and co-founder predicted that the app will become the go-to app for sports fans that want to experience an extra thrill. At the same time, he reiterated that the expansion of sports betting pushes Betr even further to lead by example responsibly.
Recently, Betr Teamed Up with Prizeout
The recent announcement comes after only recently, Betr teamed up with Prizeout, a unique payment service company that offers bettors withdrawals of winnings in the form of digital gift cards instead of cash. As a result of the partnership, Prizeout was named as the only withdrawal method for free-to-play winnings for players.
Co-founded by Levy, Betr is also supported by Jake Paul, the famous social media influencer and professional boxer. The innovative application completely revamps the betting experience by enabling bettors to place wagers on specific moments as part of different sports events.
Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.
Sports October 12, 2022
Sports October 12, 2022