WagerWire finally gets to try out its big idea: if sports bettors will trade bets like stocks.
The Los Angeles-based creation of three UCLA roommates announced its first such partnership with a sports betting company on Friday, joining Betr Sportsbook in a technology integration and media partnership.
The integration will allow for bet trading inside both the WagerWire and Betr apps. Betr officially launched its mobile app in Virginia on Wednesday and is also live in Massachusetts and Ohio. A release heralded Betr’s opportunity to “vault ahead of the field by becoming the first to combine the trifecta of microbetting, traditional, and secondary markets.” Betr could use the boost as it has so far garnered less than 1% of market share in Massachusetts or Ohio.
WagerWire was created by Guy Dotan, Zach Doctor, and Travis Geiger, on the premise that sports bettors are interested in speculating on placed bets as an asset. A detailed explanation of how it was created and how it works can be found here:
Study: Bettors Want to Do More Than Wait for Final Score
A 2022 study commissioned by WagerWire asserted that "90% of current sports bettors would likely sign up with a sportsbook that offered a secondary betting marketplace."
“WagerWire’s technology creates a new category that supercharges the fan experience. Sports betting should be as fun and exciting as the sports themselves,” WagerWire CEO Doctor said. “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.”
Said Betr co-founder and CEO Joey Levy: "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."
Levy said the WagerWire functionality would be launched with its new "V1" sportsbook iteration in 2024.