In 1979, he entered Indiana University, in the United States, where he would play men's college soccer for three seasons (see photo).

He was showered with accolades, earning first team All America, and winning the Hermann Trophy as the best collegiate player that year.

While Betancourt left Indiana University after his junior year to play for Honduras in the 1982 FIFA World Cup, he is still considered one of the greatest collegiate players ever.

On 27 October 1981, the St. Louis Steamers of Major Indoor Soccer League (MISL) selected Betancourt in the first round (12th overall) in the college draft.

After the World Cup, Betancourt moved to France to pursue a professional career with Racing Club Strasbourg, which played in the French First Division at the time.

Betancourt returned to the US and signed with the St. Louis Steamers of Major Indoor Soccer League (MISL) for the 1984–85 season.

In 1985, Betancourt was called up to the Honduras national football team for its qualification campaign for the 1986 FIFA World Cup.

He made his debut for the Honduras seniors in an April 1982 friendly match against El Salvador and has earned a total of nine caps, scoring five goals.