OnlineSports BettingAffiliate

70%+ increase? WagerWire produces research to push marketplace concept

WagerWire, which bills itself as an "innovative marketplace for open sports bets," has found that 90% of current sports bettors would sign up with a sportsbook – if it had a 'secondary marketplace' within its product offering.

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Naturally, WagerWire has released these results to back its business idea up, while the results come from just a small sample size.

Indeed, the study was completed between 8-21 July 2022, only using 500 US sports bettors and 200 non-sports bettors.

Nevertheless, its results show that players would place "more bets, riskier bets and larger bets" with the inclusion of a secondary betting marketplace.

Specifically, 76% of respondees said they would be likelier to place a greater amount of bets and spend more time on a sportsbook managing wagers.

Meanwhile, 84% of respondees indicated they would bet more on parlays and straight bets, with 80% saying they would wager more on futures – and 78% on prop bets.

Zach Doctor, WagerWire CEO, said: "The state of the US sports betting industry is, ostensibly, an arms race. Since the onset of the latest economic downturn in early 2022, operators have been looking for new strategies, new technologies and new products to create new revenue streams and sustainably acquire and retain users.

"These data findings prove the demand for a betting marketplace that we already knew existed from our rapidly growing and engaged community.

"They also establish a firm proof of concept and roadmap for how operators can utilize our product to drive user acquisition, retention, engagement and, most importantly, drive more handle and revenue."

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