Yahoo is expanding its sports portfolio, announcing the acquisition of social sports betting operator Wagr. The value of the deal, announced Tuesday, is unknown at this point. Wagr will completely integrate 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 take part in betting challenges and engage in smack talk with their peers. The Nashville-based company raised about $16m in recent years from a variety of notable investors.
Yahoo is one of the biggest players in US fantasy sports and it believes the Wagr acquisition will help accelerate the company’s “vision to create and deliver the most compelling fantasy and gaming products.”
take friendly competition and engagement to the next level
In the press release announcing the deal, Yahoo Sports senior vice president Jon Shaw spoke about the importance of fan engagement within the company’s fantasy leagues. He believes that Wagr will immediately allow Yahoo Sports to take friendly competition and engagement to the next level.