Yarran played 119 matches for Carlton before joining Richmond in the 2015 trade period. However, he failed to play a game for the Tigers last season, as he took time away from the game to deal with mental health issues.
He returned to training briefly in November, before he was released from his playing contract due being unable to meet the demands of AFL football.
He has since returned home to WA, where Betts says he will lace up for a WAFL side.
“I’ve had some contact with him. He’s back in WA living in Perth, so he’s doing good,” Betts told Adelaide radio station, 5AA.
“I think he’s going to play for a WAFL side over there, Swan Districts, where he played when he was younger.
“He actually said to me that if you look at what Nathan Krakouer did, he gave up footy, went back to WA, got his life back on track and gave it another crack and now he’s back playing for Port Adelaide.
“I guess Chris can look at someone like that and hopefully get his life back on track and try again to play AFL footy.”
Betts was teammates with Yarran at the Blues from 2009, when Yarran was drafted, to 2013, when Betts left the club to join Adelaide.