Betr
DraftKings Introduces Credit Card Deposit Ban for US Customers
DraftKings has introduced credit card deposit ban for US customers. This decision aligns them with other major gambling operators, such as Fanatics Betting & Gaming, Betr, and Sporttrade, which have already banned credit card funding for wagering accounts.
It also comes on the heels of another major announcement by DraftKings. Starting September 1, DraftKings will charge a 50-cent fee for every mobile and online bet placed in Illinois using its Sportsbook platform. This change follows a similar move by FanDuel.
DraftKings CEO, Jason Robins, expressed his disappointment with Illinois policymakers for significantly raising the tax rate. He is worried that this could hurt the legal sports betting industry, while the illegal market continues to operate without paying taxes or providing any consumer protections.
DraftKings has informed its users that any saved credit card information will be disabled.
Moving forward, players will need to utilize alternative payment methods, including:
• Debit Cards
• ACH and wire transfers
• PayPal, Venmo
• Apple Pay
• Gift Cards
Bettors can also use cash at physical locations to fund their accounts.
DraftKings describes this step as a “strategic business decision” aimed at shielding customers from the high interest rates and cash advance fees usually associated with credit card deposits in gambling. Unlike regulatory demands, this decision was internally driven but coincides with growing scrutiny from regulators.
DraftKings has decided to stop accepting credit cards for deposits in the US due to worries about customer safety and more scrutiny from regulators. Recently, the company faced a significant fine in Massachusetts, where it is based. The Massachusetts Gaming Commission fined DraftKings $450,000 for allowing credit card deposits, which goes against state laws.
The post DraftKings Introduces Credit Card Deposit Ban for US Customers appeared first on Gaming and Gambling Industry in the Americas.
Acquisitions/Merger
Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets
Betr, the company behind the world’s first real money gaming super app, announced it has acquired Ascent Capital Management Inc., securing National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration to advance the launch of prediction markets within the Betr super app.
Through the acquisition, Betr becomes a CFTC-registered introducing broker, representing a major milestone in the company’s continued expansion into regulated prediction markets. The transaction allows Betr to accelerate the company’s plans to launch prediction markets powered by Polymarket directly within the Betr super app.
Beginning later this year, Betr plans to make event contracts across sports, politics, culture, and more available to its over one million nationwide paying users through the same seamless experience as Picks, Sportsbook, Casino, and Arcade, all integrated within one wallet and one app.
“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology. Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. This acquisition is another step toward our vision of creating the first true nationwide real-money gaming app. By securing IB registration through the acquisition of an established broker, we can now focus entirely on launching a seamless, compliant prediction markets experience powered by Polymarket. Our users will soon be able to engage with Picks, Sportsbook, Casino, Arcade, and Predictions all within a single integrated ecosystem,” said Joey Levy, Founder and CEO of Betr.
Ascent Capital Management Inc. has been registered as an introducing broker since 2011 and brings established compliance infrastructure that will support Betr’s expansion into the rapidly growing prediction markets category while maintaining strong standards around regulatory compliance and user protection.
The post Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets appeared first on Americas iGaming & Sports Betting News.
Betr
Betr and Polymarket Announce Multi-year Partnership
Betr, the company behind the world’s first real money gaming super app, and Polymarket, the world’s largest prediction market, announced a multi-year partnership to bring prediction markets to Betr users nationwide. Beginning in 2026, Betr will launch prediction markets powered by Polymarket directly within the Betr super app, making events contracts across sports, politics, culture, and more available to one million paying users.
“Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. Launching Predictions is an important step toward our vision of creating the first true nationwide real-money gaming and financial super app, integrating a category projected to reach $1 trillion in annual volume into the same seamless experience as Picks, Sportsbook, Casino, and Arcade. There is no better partner than Polymarket to power this expansion, given their category leadership and deep connectivity across the sports ecosystem,” said Joey Levy, Founder and CEO of Betr.
“Prediction markets are becoming a foundational tool for understanding the future, and scale is what brings them into the mainstream. Betr has built one of the most engaged sports audiences in the country, and their ability to engage millions of users makes them the ideal partner to bring prediction markets to a massive new audience. This partnership allows us to scale our infrastructure and continue bringing the power of prediction markets into the daily experience of sports fans across the country,” said Shayne Coplan, Founder and CEO of Polymarket.
Betr already operates Betr Picks, Betr Social Sportsbook, Betr Social Casino, and Betr Arcade in the majority of the country, and holds gaming licenses nationwide and has been publicly commended by the regulatory community for being a leader in responsible gaming. Betr’s prediction markets product will be available within the same single app experience as the company’s other products.
The post Betr and Polymarket Announce Multi-year Partnership appeared first on Americas iGaming & Sports Betting News.
2025 NFL season
Betr Kicks Off NFL Season with Revamped Betr Picks, Industry-highest 10,000x Payouts, Free $10 Play, and the Launch of Betr Arcade
Betr, a leading gaming and media business, announced a major revamp of its daily fantasy sports pick ’em product, Betr Picks, along with the official launch of Betr Arcade, just in time for the 2025 NFL season. Betr Picks is currently live in 33 U.S. states plus Washington, D.C., reaching approximately two-thirds of the U.S. population, while Arcade has initially launched in 29 states, giving millions of users access to real-money peer-to-peer skill games.
Betr Picks’ overhaul introduces a new, simplified and modern user interface, expanded sports offerings including WNBA and top global soccer leagues, significantly more projections across both new and existing sports, and its industry-first 10,000X payout multiplier. In addition, the innovative “Mystery Multiplier” feature now allows two-pick lineups, which typically return 3X, to return payouts to users of up to 1000X.
To celebrate the launch, all new users will receive $10 to play for free, no deposit required, during the first two weeks of the NFL season. Additionally, new users will also be eligible for a 50% deposit match up to $200, and all existing users will receive a deposit match for each of the first two weeks of NFL season. With over $250 million already won on Betr, these updates are designed to bring an elevated experience to both new and existing users.
The debut of Betr Arcade marks the company’s entry into the casual peer-to-peer skill gaming space, featuring four initial games: 21, Fruit Match, Crossout 21, and 5 Across with more games rolling out in the coming weeks. Games start at just $1.25 and allow players to practice before entering real-money contests against others. The launch was highlighted by co-founder Jake Paul playing one of the games, 21, in a promotional video shared on social media.
“The Betr app has never been as strong as it is today. Betr Picks is now a top tier daily fantasy sports pick ’em product despite launching just less than two years ago, and we now have Betr Arcade live in 29 states, giving our customers a new skill gaming experience. We now have two nationwide gaming products live in our single Betr app available to users in a single wallet. The innovation won’t stop here – we will be releasing additional new products over the coming months – in addition to releasing several more games within Betr Arcade and further improvements to Betr Picks. The Betr team continues to prove that it ships product with a greater level of velocity than any other company in the industry. Most importantly I am excited for the hundreds of thousands of sports fans and gamers who have already won $250M on Betr to experience an early version of this new first-of-its-kind gaming super app,” said Joey Levy, Founder and CEO of Betr.
The post Betr Kicks Off NFL Season with Revamped Betr Picks, Industry-highest 10,000x Payouts, Free $10 Play, and the Launch of Betr Arcade appeared first on Gaming and Gambling Industry in the Americas.
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