What Is WagerWire?
WagerWire was established in 2019 in Los Angeles by three roommates from UCLA. The idea was to create a platform based on a betting exchange model with better technology and user experience.
The app’s founders believe that WagerWire is designed to empower users to take control of their betting actions. The platform has partnered with sportsbook operators to allow bettors to treat their wagers as assets while increasing engagement and retention and building a solid online sports betting community.
Like a stock portfolio, WagerWire lets you view your sports bets as an assets portfolio that you can buy, flip or sell anytime. You can sync the sportsbooks of your choice, track the value of your bets in real time, earn rewards, and play with your friends or even celebrities. You can trade bets through the WagerWire app or within the partner sports betting apps as the technology is integrated.
Why use WagerWire?
The basic concept of WagerWire is not new, as numerous betting exchanges are already operating, whereby bettors sell their wagers as assets while speculators consider them a medium for investment. You can buy a bet at a lower rate, sell it at a higher price, and pocket the margin.
However, WagerWire differs in terms of the medium’s accessibility and is more user-friendly. Sportsbooks can leverage it for customer acquisition and retention and help the business grow. They can easily incorporate the platform in their app coding, and it is good to go.
Let’s admit, the recent economic downturn has been hard on individuals and businesses. Hence, betting operators must resort to new products and technologies and adopt new strategies to generate more revenues. These partnerships have led to the development of a thriving marketplace for sports wagers, where sportsbooks and users can gain leverage.
From a user standpoint, you get access to a wide variation of bets and more empowerment as you can sync your favorite sportsbooks to track your real-time bet value, trade game lines, and cash out on parlays when you want. WagerWire offers deal scores and suggested prices so you can make informed choices.
The best part is that your bet does not have to win for you to earn money. You can profit from the real-time line movements and momentum swings via selling or buying best on the marketplace at WagerWire or within a partner sportsbook app.
How To Use WagerWire
The WagerWire app will allow you to trade your bets in terms of selling, flipping, or buying. The makers claim that the app is easy to use, with significant categories at the bottom, including a link to the main page, your profile, your portfolio, and your wire.
If you are interested in buying bets, there is a marketplace of such bets available that other people have posted for sale. If you click on a particular bet, it will take you to the bet page, where you will find out from which sportsbook the bet originated. You will need to link your account with the sportsbooks to be able to buy. If you do not have an account for that particular sportsbook, you must create one.
For bets that eventually pay out, the funds are added to the sportsbook account where the bet was placed. You can continue to use the profits for betting, place other future bets from the amount, or withdraw the amount in full.
If you want to sell, you can decide when to sell the wager and how much to sell it for. WagerWire does suggest a real-time value for the particular bet, but the final decision for price setting lies with you. If you have bets in your wallet and a certain value, you can flip them and earn cashback in your balance.
Overall the app is not that hard to use, provided you are familiar with how the betting exchange model works and have strong trading instincts, i.e., you know when to strike for maximum leverage.
