Yahoo acquires social sports betting company Wagr. [Image: Shutterstock.com]
Yahoo is expanding its sports portfolio, announcing the acquisition of social sports betting company Wagr. The value of the deal, which was announced on Tuesday, is not yet known. Wagr will be fully integrated into Yahoo Sports.
Wagr is a peer-to-peer social betting app that started in 2020. It allows people to bet against their friends, as well as participate in betting challenges and engage in discussion with their peers. The Nashville-based company has raised about $16 million in recent years from a variety of high-profile investors.
Yahoo is one of the largest players in fantasy sports in the United States and believes the acquisition of Wagr will help accelerate the company’s “vision to create and deliver the most compelling fantasy sports and gaming products.”
Take friendly competition and engagement to the next level
in Press release announcing the dealYahoo Sports Vice President John Shaw spoke about the importance of fan participation in the company’s fantasy leagues. He believes Wagr will immediately allow Yahoo Sports to take friendly competition and participation to the next level.