WagerWire, a marketplace technology and media company serving sportsbooks and bettors, announced today it has signed a technology integration and media partnership deal with industry innovator Betr. As part of the partnership, WagerWires proprietary tech, which empowers bettors to buy and sell active sports bets and fantasy entries, will be fully integrated with Betrs platform in the future, allowing for trading inside both Betr and WagerWires mobile apps.
WagerWire transforms traditional bets into assets that can be bought and sold at any time, unlocking new ways to strategize, speculate and profit. The partnership serves to further differentiate Betrs core user experience in an industry inundated with commoditized products, while placing WagerWires innovative offering at the forefront of the sports betting industry. The deal positions Betr, who is rapidly advancing towards product parity with incumbent operators, to vault ahead of the field by becoming the first to combine the trifecta of microbetting, 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.
WagerWires technology creates a new category that supercharges the fan experience. Sports betting should be as fun and exciting as the sports themselves, Doctor continued. This can only be achieved through a holistic approach that pairs an intuitive and gamified product with engaging media and an impassioned community. Im proud to say Betr shares this vision.
An independent survey earlier this year found that if a sportsbook offered their 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 books overall bet mix in these profitable 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 sportsbooks 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 rapidly growing media divisions. In just their first 10 months, Betr Media and the WagerWire Media Network surpassed 1.3B and 250M impressions on social media, respectively. The two already rank among the most engaged sports communities on the internet, with both being finalists for Best Sports Betting Content at the 2023 Hashtag Sports Awards, which Betr went on to win. WagerWires technology fits hand in glove with Betrs 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.
WagerWire first came onto the scene when it announced its seed round in 2022 with backing from the likes of Miami Marlins co-owner Roger Ehrenberg (IA Sports Ventures and Eberg Capital), 305 Ventures, NBA All-Star Richard Jefferson, and SimpleBet co-founder Scott Marshall, among others. Betr was co-founded in 2022 by Joey Levy and Jake Paul and is backed by Roger Ehrenberg and Florida Funders as well as NFL players Dez Bryant, Ezekiel Elliot and other high profile personalities. Betr recently announced the closing of a 35M Series A2 round.
WagerWire empowers bettors to take control of their action and treat their bets as assets that can be bought and sold at any time. WagerWires proprietary marketplace technology can be directly embedded into sportsbook apps, and also powers the WagerWire app that serves as an aggregated marketplace of bets across partner sportsbooks. WagerWire also has a Media Network that generates daily content By Fans, For Fans. You can find WagerWire @WagerWire on Twitter and LinkedIn, or @WagerWireLive on TikTok and at WagerWire.com.
WagerWire is dedicated to providing users with a responsible gaming environment. If you think you or someone you know may have a gambling problem, resources are available. Call 1-800-GAMBLER.
Founded in 2022 by Joey Levy and Jake Paul, Betr is a leading sports betting and sports media company through Betr Gaming and Betr Media, respectively. Betr Gaming is an online sports betting and gaming business focused on a unique product experience with a simplified user experience that is catered to the casual sports fan, enabling Betr to capture more of the underpenetrated online gaming addressable market. Betr Gaming began with a microbetting-only online sports betting (OSB) product, allowing users to bet on individual plays and events such as pass or rush on the next play in football or the outcome of the next pitch in baseball, and is expanding its OSB product offering to include additional markets with full sportsbook capabilities, as well as planning to expand into other real money gaming verticals. Betr Media is the fastest growing sports betting media brand in the United States that has grown to over 1.6 million followers, 1.6 billion impressions, and 84 million engagements across its social channels since publicly launching in August 2022. Betr is creating a unique flywheel by investing in content creators to drive brand awareness and affinity, which drives more audience and engagement with the Betr brand, allowing Betr to monetize its user base through a suite of gaming products which then enables further investment in content and brand affinity.
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