Speculative Decoding (SD) is a recently proposed technique for faster inference using Large Language Models (LLMs). SD operates by using a smaller draft LLM for autoregressively generating a sequence of tokens and a larger target LLM for parallel verification to ensure statistical consistency. However, periodic parallel calls to the target LLM for verification prevent SD from achieving even lower latencies. We propose SPRINTER, which utilizes a low-complexity verifier trained to predict if tokens generated from a draft LLM would be accepted by the target LLM. By performing sequential approximate verification, SPRINTER does not require verification by the target LLM and is only invoked when a token is deemed unacceptable. This reduces the number of calls to the larger LLM, achieving further speedups and lower computation cost. We present a theoretical analysis of SPRINTER, examining the statistical properties of the generated tokens, as well as the expected reduction in latency as a function of the verifier. We evaluate SPRINTER on several datasets and model pairs, demonstrating that approximate verification can still maintain high quality generation while further reducing latency.