Yahoo has introduced it has acquired sports activities betting app Wagr. The phrases of the deal weren’t made public, however Yahoo confirmed that Wagr’s platform will likely be totally built-in into its personal.
Yahoo Constructing Subsequent Technology of Gaming Merchandise
Wagr has attracted a whole lot of high-level funding previously, together with from high-profile corporations similar to Seven Seven Six, the Kraft Group, and the homeowners of the New England Patriots. Wagr was additionally the primary social sports activities betting operator to obtain a license in america.
Jim Lanzone, CEO of Yahoo, acknowledged that the acquisition represents the way forward for Yahoo’s gaming merchandise. He stated: “The acquisition of Wagr is an thrilling step within the improvement of the subsequent technology of Yahoo Sports activities’ gaming portfolio. Wagr stands out for his or her modern emphasis on group and social engagement in sports activities gaming, which aligns completely with the Yahoo award-winning fantasy platform that has introduced tens of hundreds of thousands of followers collectively round their love of sports activities for over 20 years.”
In the meantime, Mario Malavé, co-founder and CEO of Wagr, additionally expressed enthusiasm concerning the deal. He added: “Becoming a member of Yahoo permits us to proceed delivering on our mission to attach fandom to social gaming whereas elevating our skill to execute by way of expanded sources, new partnerships, and technological capabilities.
“Yahoo Sports activities presents us a stage to construct merchandise that may attain hundreds of thousands of loyal followers which have related over fantasy sports activities for many years. The distinctive mixture of Yahoo’s scale and engagement creates alternatives for virtuous product loops between sports activities media and gaming.”
What Is Wagr?
Wagr is a “social wagering” utility that permits buddies and communities to position bets in opposition to one another. In contrast to peer-to-peer betting trade platforms, Wagr collects stakes from each customers and distributes winnings, taking a 5 p.c transaction price on each wager. This characteristic allows Wagr to stay detached to the end result of the wager, making it distinctive within the trade.
Along with the core platform, Wagr presents social feeds, on-line leaderboards, and chat performance that enrich dialog and drive engagement. Yahoo Sports activities, one of many largest fantasy sports activities operators in North America, will totally combine Wagr’s platform into its personal.
