Zach Doctor, Co-Founder and CEO of WagerWire, talking to SBC Americas, offers the view that in a constantly evolving marketplace an ‘all or nothing’ approach to sports betting is a thing of the past.
SBC: For those of our readers who are less familiar with WagerWire, can you tell us more about the company and its offer?
Zach Doctor: WagerWire is an innovative marketplace where bettors can buy and sell previously placed sports bets. Sports bettors will be able to profit off line movements and momentum swings by buying and selling bets on the WagerWire marketplace or within our partner sportsbook apps.
WagerWire empowers you to bet like an investor by taking control of your action and viewing your bets as a growing portfolio of assets that can be bought and sold at any time. Bettors can seamlessly track bets in real-time and flip in and out of futures all season, cash in on parlays before they bust, and trade game lines until the final buzzer.
SBC: What is WagerWire’s USP – what sets it apart from the competition in what is an increasingly crowded market?
ZD: Now your bet no longer has to win to make you money. Sports betting is ever-evolving and we think the “all-or-nothing” attitude is a thing of the past. People want more control over their betting journey, and WagerWire gives them the ability to flip bets like they would with a stock on Robinhood, or a pair of Jordans on StockX.
What sets our solution apart is that we power bet trading in partner sportsbook apps, as well as on “the wire”, our aggregated marketplace of sports bettors. As sportsbooks search for cost-effective acquisition and retention strategies, WagerWire is a new solution to create a more engaging and social experience for bettors. Our team has a clear vision to deliver value for both bettors and sportsbooks and help drive the industry forward into the future.
SBC: How has the business been performing so far this year and what have been the key developments for the company of late?
ZD: We are the first start-up in the recently launched HPL Digital Sport and Cardinal Sports Capital accelerator program, which is helping us navigate and grow quicker and become more successful than if we had done this on our own.
Additionally, we are announcing that we’ve secured $3m in seed funding, a round which was led by Roger Ehrenberg as a part of IA Sports Ventures and Eberg Capital. Cardinal Sports Capital is also a key investor in this round and their investment will be used for further technology development, brand building and talent acquisition.
SBC: The North American market – as predicted – has seen incredible growth in the wake of the repeal of PASPA. What are your plans for this market?
ZD: As the market matures, sports bettors are hungry for more engaging ways to play that offer more control over their experience. We’re ready to give it to them. We’re excited about the potential of the North American market, where WagerWire can elevate the sports betting experience through partnering with the sportsbooks and betting platforms people already use.
SBC: We’re over halfway through 2022 – what more can we expect from WagerWire in the way of new plans and aspirations?
ZD: We have some great momentum and are excited for more announcements throughout the year. Stay tuned for more from WagerWire – we’re just getting started.