Yahoo Bolsters Platform by Integrating Wagr

• Yahoo has recently acquired the unique betting platform Wagr.
• The company stated that Wagr will be integrated within Yahoo Sports to bring new opportunities for users in the near future.
• Wagr has been likened to Yahoo Fantasy Sports and will likely follow a similar target audience.

NEW YORK – Yahoo has firmly carved out a space for them in the world of gambling after they acquired peer-to-peer betting app Wagr. The move is expected to be integrated into Yahoo’s website and open up social opportunities for many of their sports fans.

Wagr was a pioneer in its unique approach to sports betting that emphasized interacting with other sports fans. With them being the first sports betting operator to get their license in the United States, the acquisition marks a major turning point for Yahoo into the world of legal sports betting.

What Wagr is and How the Acquisition Will Help Yahoo

Upon first glance, it may appear that Yahoo acquiring a sports betting operator would seem illogical. However, Wagr boasts a unique setup that differentiates it from its peers and makes it a perfect fit for Yahoo’s existing business model.

Wagr functions by allowing users to make their own predictions, which other users will then choose to bet against. Because they are not involved within the money exchanging process, they operate by taking a 5% fee on every bet.

Jim Lanzalone, the CEO of Yahoo emphasized the social aspect by saying:

“Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-winning fantasy platform that has brought tens of millions of fans together around their love of sports for over 20 years.”

Evidently, the aim for Wagr is to become integrated within the Yahoo website/app and further to be tied into the same target audience that Yahoo Fantasy Sports has enjoyed for so long.

While the deal is still being completed and we will not know all of the implications, there seems to be an underlying possibility that once incorporated, Wagr may become a convenient tool for Yahoo Fantasy users to offer their friends bets as they play out the season.

With much still left to be clarified and revealed, Yahoo’s future prospects look both abundant and exciting, with almost unlimited possibilities for adding Wagr into so many other areas that Yahoo has already enjoyed success in.

Yahoo is now in the process of trailblazing a massive, socially-driven version of legal sportsbooks that lets users face off head-to-head, reminiscent of handshake bets with friends.

News tags: Jim Lanzalone | Wagr | Yahoo