Betr CEO Levy still confident in long-term growth despite Massachusetts exit

For Joey Levy, March came in like a lion on an atypically hectic first week of the month.

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Last Wednesday, Levy appeared on an All-Star panel in Manhattan where industry power players offered predictions on the future of the sports betting industry over the next decade. Levy, a co-founder and CEO of Betr, made the appearance approximately an hour after the sports betting start-up announced a new round of financing that valued the company at $375 million.

In an effort to constrain customer acquisition costs, Betr has mostly eschewed costly promotions that sunk numerous mid-tier operators over the last year. While Betr appears to be more focused on long-term growth, the strategy has hampered its market share in recent months.