Through the partnership, WagerWire’s proprietary technology will be unified with Betr’s V1 sportsbook platform. This will allow for trading within both WagerWire’s and Betr’s mobile apps.
Earlier today, (7 September), Betr launched its real-money sportsbook product in Virginia, bringing its total active US states to three.
On the media side of the deal, Betr and WagerWire will co-produce an original video series later this year. Further media projects are set to follow.
WagerWire’s technology facilitates the purchasing and trading of active sports bets and fantasy bets. Zach Doctor, co-founder and CEO of WagerWire, said the technology presents a “new category” for sports bettors in the market.
“WagerWire’s technology creates a new category that supercharges the fan experience,” said Doctor. “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.”
Doctor said the deal brings forward a new perspective on sports betting, one formerly untouched by the sports betting market.
“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,” he continued. “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.”
Linking microbetting with traditional and secondary markets
The partnership will also see Betr combine microbetting with traditional and secondary markets. Betr launched its microbetting app just over a year ago, in September 2022. This came weeks after Betr was launched in August 2022 after raising $50m in funding.
Joey Levy, founder and CEO of Betr says Betr and WagerWire have a similar outlook on improving the sports betting market for users.
“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 Levy.
“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.”
Betr’s offerings take the form of two businesses – Betr Gaming and Betr Media. Betr Gaming acquired Chameleon from FansUnite for $7.4m in May this year.
In March, Betr announced plans to move into different segments. At the time this consisted of offering pre-match and in-play betting in its core markets ahead of March Madness.
More recently, in June, Betr raised $35m in Series A2 funding.