Sparket is a B2B live event wagering software that allows users to bet on traditional sports, esports and live events.
The new deal will allow Sparket users to trade their bets using the WagerWire platform or directly within the Sparket app.
Zach Doctor, Co-founder and Chief Executive Officer (CEO) of Wagerwire, said: “WagerWire and Sparket are aligned on our journeys to bring new dimensions to the sports betting experience. Sparket’s system allows for betting on new and interesting markets.
"Adding WagerWire means that each bet originated by Sparket will become a tradable asset. This partnership is going to pave the way to an entirely new era of betting.”
According to a survey conducted in 2022, 90% of online sports bettors prefer a sportsbook with secondary bet trading functionality. The market need for products like WagerWire will be highlighted in the upcoming survey, which is anticipated in February.
Aaron Nasch, CEO of Sparket, added: “Combining forces with WagerWire creates powerful possibilities for our user. The ability to flip in and out of bets gives our users more power and freedom over their wagers. For the first time, pari-mutuel markets will now become tradable after the event begins. This enhanced user experience takes Sparket to the next level and is already being eagerly anticipated by our partners.”
Meanwhile, WagerWire recently published a sports betting study results revealed that more than two-thirds of sports bettors surveyed preferred using parlays and futures instead of straight betting.