I once had a betta which looked like that. At the time I thought it was lymphocystis but I've been told since that it was a tumour. Does the lump on your betta get bigger and bigger then suddenly sort of deflate leaving it flatter than it was, then start to 'inflate' again? That's what mine did. After a while, smaller lumps started to grow down his side.
My betta's first lump was right above his gill. He didn't seem to notice anything wrong, he ate and swam round like he always did. Then as the lump got bigger it it reached his gill, then went into his gill, and that's when he started to go downhill.
Your betta's lump looks far enough away from the gill that it won't cause the same problem as mine had, so yours will be able to live normally even if he looks a bit odd.