WagerWire, a marketplace for buying and selling active sports bets on its mobile app and in the apps of its partner sportsbooks, has announced a strategic technology partnership with Sparket, a company that specializes in making B2B live event wagering software.

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Featuring the Bet on Anything Platform 

WagerWire’s technology, which enables the buying and selling of bets that have already been placed, will be integrated into Sparket’s “bet on anything” platform as part of the cooperation.

WagerWire allows bets to be bought and sold after they have been placed. This will enable secondary market trading for Sparket bets to be transacted on WagerWire’s free mobile app, which is arriving “in the early stages of this year,” and within Sparket’s platform.

This new feature lets players use line changes and momentum swings, which “unlocks new ways to make money or cut down on losses.”

According to what was announced by the parties, the two new businesses would also collaborate in a social role. WagerWire has extended an invitation to Sparket to become a part of its community of sports lovers and bettors. Once inside, WagerWire will make use of Sparket’s betting markets to develop individualized chances for its members.

Integrated to Highlight Technologies in the Market 

The data also highlights the benefits of this strategic relationship, according to information gathered by WagerWire from a study of people who bet and those who did not bet in 2022.The poll was done in 2022.

According to the results of the survey, more than nine in ten people who bet on sports online are more likely to pick a sportsbook that offers secondary bet trading capability. The next data release from the poll is scheduled for this February and will further highlight the market need for technologies like WagerWire.

Significant Milestones in Betting Industry

WagerWire burst onto the scene in 2022 with the announcement of its seed round. The company was supported by investors including NBA All-Star Richard Jefferson, Miami Marlins co-owner Roger Ehrenberg, and SimpleBet and Betr creator Joey Levy, amongst others. WagerWire has recently established key relationships with The Gaming Society and AI sports analytics company Quarter4.

Sparket has signed deals with the Cahuilla Casino Hotel and the Station Casinos in the past year. It has also been approved by Gaming Laboratories International (GLI) for its GLI-33 Event Wagering Systems v1.1 standard.

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