WagerWire, Sparket team up to create secondary market for wide range of bets

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The deal will create a “first-of-its-kind” experience where bettors can buy and sell bets “on anything,” according to a release.

WagerWire, a marketplace that allows bettors to sell and buy active sports bets on its internal app as well as partner sportsbooks, has formed a tech partnership with Sparket, a B2B live event wagering software that lets users bet on traditional sports, esports and a wide range of other types of live events, the two companies announced Wednesday.

WagerWire’s tech will integrate into Sparket’s “bet-on-anything” platform. This allows secondary market trading for Sparket bets to be traded on WagerWire’s free mobile app, according to a release. The WagerWire app will launch later this year.

Combined with Sparket’s tech, users will be able to have more opportunities to leverage line movements and in-play momentum swings, WagerWire company officials said in a statement.

“WagerWire and Sparket are aligned on our journeys to bring new dimensions to the sports betting experience,” said Zach Doctor, co-founder and CEO of WagerWire, in a statement. “Sparket’s system allows for betting on new and interesting markets.

“Adding WagerWire means that each bet originated by Sparket will become a tradable asset. This partnership is going to pave the way to an entirely new era of betting.”

The deal also includes further social integration between the two companies.

“Combining forces with WagerWire creates powerful possibilities for our users,” said Aaron Basch, CEO of Sparket, in a statement. “The ability to flip in and out of bets gives our users more power and freedom over their wagers. For the first time in history, pari-mutuel markets will now become tradable after the event begins and the windows are closed.”

“This enhanced user experience takes Sparket to the next level and is already being eagerly anticipated by our partners.”

More company information

WagerWire launched in 2022 with investments from high-profile figures including Miami Marlins co-owner Roger Ehrenberg, former NBA all-star Richard Jefferson and Betr founder Joey Levy. WagerWire has partnerships with other growing gaming-industry companies including The Gaming Society and Quarter4.

Sparket provides extended content in traditional sports, eSports, live vents and other offerings through a community-based social platform. Its proprietary software adds content to partner firms to drive customer acquisitions and retention.

This also includes self-setting parimutuel odds designed to limit operator exposure and a system to crowdsource event data, per a company release. Sparket further offers partners customizable, free-to-play contests custom events and real-money wagering integrations.

The company has partnerships with Nevada-based Station Casinos as well as Cahuilla Casino Hotel.

Alternate betting types expand

The deal comes as an increasing number of companies look to build off the experiences offered by “traditional” sportsbooks.

Companies such as WagerWire as well as PropSwap allow bettors in the growing number of legal sports betting states to buy and sell already placed bets. New types of deals, such as WagerWire’s partnership with Sparket, will expand this to an even wider range of options.

Meanwhile, the nation’s first exchange wagering platforms, including Sporttrade and Prophet Exchange, have gone live. These offerings, which allow bettors to place bets in a manner similar to stocks, are common in Europe but are just starting to gain a foothold in the US. Companies such as MOJO are working to take this a step further, allowing bettors to buy or sell bets on the career trajectories of athletes.

Betr is one of the leading startups looking to further expand wagering options through its microbetting-focused platform, which launched in Ohio earlier this month and expects to be in more than a dozen states by year’s end. Instead of moneyline or pointspread bets, Betr exclusively offers wagers on more nice outcomes such as individual prop bets.

Established sportsbooks are also rapidly expanding their own betting options, especially around player props. Most major US sportsbooks have ramped up options for single-game parlay bets, which frequently include player props, and, not coincidently, have higher hold percentages.

About the author

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Ryan Butler

Ryan is a veteran sports betting and iGaming regulation and breaking news journalist based in the US. A two-time Associated Press Sports Editors award winner, he has reported on sports and politics since 2012. He has covered the gaming industry since 2018. Ryan graduated from the University of Florida with a major in Journalism and a minor in Sport Management.

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