Sports betting marketplace WagerWire inks tech, media deal with Betr

WagerWire, a marketplace for buying and selling active sports bets, has announced a technology integration and media partnership deal with Betr, the sports betting company founded by entrepreneur Joey Levy and influencer Jake Paul. 

As part of the partnership, WagerWire’s proprietary tech, which allows bettors to buy and sell active sports bets and fantasy entries, will be fully integrated with Betr’s platform in the future, allowing for trading inside both Betr and WagerWire’s mobile apps.
 
WagerWire's model transforms traditional bets into assets that can be bought and sold at any time, allowing bettors to strategize, speculate, and profit from them. The partnership is expected to further differentiate Betr’s core user experience while placing WagerWire’s offering at the forefront of the sports betting industry. 

The marketplace technology company says the deal positions Betr, who is eyeing to expand its presence in the US sports betting scene, to vault ahead of the field by "becoming the first to combine the trifecta of micro betting, traditional, and secondary markets."

“While secondary markets are commonplace for things like concert tickets, trading cards, and even fashion, it has yet to exist at scale in sports betting – until now,” said Zach Doctor, Co-Founder and CEO of WagerWire. “We have great admiration for what Joey Levy, Jake Paul, and the entire team at Betr have accomplished as both a gaming operator and media company.”
 
He added: “WagerWire’s technology creates a new category that supercharges the fan experience. Sports betting should be as fun and exciting as the sports themselves. This can only be achieved through a holistic approach that pairs an intuitive and gamified product with engaging media and an impassioned community. I’m proud to say Betr shares this vision.”

 
WagerWire cited an independent survey that found that if a sportsbook offered its users the option of a secondary marketplace, 76% would place more bets and 72% would place larger ones, growing the overall pie.

Additionally, 84% would place more parlays and 80% would place more futures, improving the book’s overall bet mix in these categories. The same survey found 90% of bettors would rather sign up for a sportsbook offering a secondary betting marketplace, and 76% would spend more time inside that sportsbook’s app.

“We are excited to partner with the WagerWire team, who shares our perspective that there is a significant opportunity to enhance the sports betting user experience through product innovation,” said Joey Levy, Founder and CEO of Betr. “We are looking forward to integrating their technology into our new V1 sportsbook platform being built on top of the recently acquired Chameleon platform, which remains on track to go live next year.”
 
The partnership also extends to both companies’ growing media divisions. WagerWire says that its technology fits hand in glove with Betr’s social ethos, "creating new ways for fans to ride bets together and share in the action with their favorite influencers as well as their friends." The companies will kick off the partnership by co-producing their first original video series this year with other projects to follow.