WagerWire Raises $3 Million for Sports Betting Marketplace, Round led by Co-Owner of Miami Marlins & Leeds United FC Company is partnering with sportsbook operators to empower bettors to treat their bets as assets that can be bought and sold, while boosting engagement and retention
LOS ANGELES
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July 07, 2022 09:01 AM Eastern Daylight Time
WagerWire, an innovative marketplace where bettors can buy and sell previously placed sports bets, announced the close of its $3 million seed funding round today. Sports bettors will be able to profit off real-time line movements and momentum swings by buying and selling bets on WagerWire’s marketplace or within their partner sportsbook apps. The round was led by Roger Ehrenberg, co-owner of the Miami Marlins and Leeds United FC, as a part of his venture funds, IA Sports Ventures and Eberg Capital. Cardinal Sports Capital is a key investor through their newly formed accelerator program with HPL Digital Sport.
“Now your bet no longer has to win to make you money,” said WagerWire CEO Zach Doctor. “People want more control over their betting journey, and the WagerWire marketplace gives them the ability to flip bets like they would a stock on Robinhood, or a pair of Jordans on StockX.” Doctor continued, “we’re thrilled to have such a prolific syndicate in our corner as we bring this product to the masses.”
WagerWire’s solution powers bet trading in partner sportsbook apps, as well as on “the wire,” their aggregated marketplace of sports bettors. The platform seamlessly tracks bets in real-time and allows bettors to jump in-and-out of futures all season, cash in on parlays before they bust, and trade game lines up to the buzzer.
“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,” said Roger Ehrenberg. “The WagerWire team has a clear vision about how to harness core economic principles in order to create a flywheel effect that drives value for both bettors and sportsbooks.”
Among those who joined this round of financing include SimpleBet founder Joey Levy’s 305 Ventures, Full Moon Sports Solutions, Sports Meta, former NJ DGE Deputy Director George Rover, law firm Cooley LLP, and early investors in Palantir, Canva, and Tesla.
The Company has entered into strategic partnerships with premier data analytics providers and has several marquee sportsbook partnerships that will be announced soon.
About WagerWire
We believe all bettors should have a continuum of proven, confident options at their disposal. WagerWire empowers you to bet like an investor. Take control of your action and view your bets as a growing portfolio of assets that can be bought and sold at any time. Seamlessly sync your favorite sportsbooks to track the real-time value of your bets, stack rewards, and play with celebrities or friends.
About IA Ventures
IA Ventures is a venture capital firm founded by Roger Ehrenberg that specializes in seed-stage and early-stage investments. IA Sports Ventures holds Roger's investments in sports franchises and gaming including the Miami Marlins, Leeds United FC, Simplebet, Instabet, Smarkets and WagerWire.
About Cardinal Sports Capital
Cardinal Sports Capital is a seed-stage and early-stage investment fund, as well as an advisory firm for both emerging and established companies in the sports gaming, technology and entertainment sectors. Cardinal brings a different dynamic to companies through a combination of financial investment, capital markets advice, marketing, business development services, and industry connectivity.
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Bailey Irelan
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