WagerWire has forged a strategic technology partnership with B2B live event wagering software firm Sparket.
Under the provisions of the agreement, WagerWire will integrate its technology, providing an option for players to buy or sell bets, into Sparket’s platform, allowing secondary market trading within the Sparket platform.
It comes as WagerWire builds up toward launching its free mobile app in the early stages of this year offering players the chance to ‘leverage line movements and momentum swings, unlocking new ways to capture profit or reduce losses’.
Moreover, WagerWire has accepted its fellow startup firm to its community of sports fans and bettors and will utilize Sparket’s betting markets to create new custom opportunities for its players.
“Combining forces with WagerWire creates powerful possibilities for our users,” said Aaron Basch, CEO of Sparket. “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.”
WagerWire cited research claiming that over 90% of bettors would choose to use an app that had secondary bet functionalities, explaining why the partnership made sense from its perspective.
The firm also noted that more data from the research will be released in February which will ‘illuminate’ the market demand for its products.
The deal also comes off the back of a seed round completed last year, with WagerWire funded by investors such as Roger Ehrenberg, Joey Levy and Richard Jefferson.
“WagerWire and Sparket are aligned on our journeys to bring new dimensions to the sports betting experience,” added Zach Doctor, co-founder and CEO of WagerWire. “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.”
