WagerWire Creates Engaging Sports Betting Community on X
The 6th Annual Awards
- Best X Presence
ABOUT THIS ENTRY
WagerWire is a technology and new media company servicing sportsbook and fantasy sports operators. Their first-of-its-kind marketplace for picks and entries has created a revolutionary and new experience for the modern sports bettor, allowing bets to become live assets, much like stocks or collectibles. For any marketplace to succeed, a highly engaged audience is needed. Bettors themselves need a space to constantly talk about their bets. Because unlike traditional gaming companies, WagerWire doesn’t profit off of players’ losses, they are in a unique position to educate players and encourage responsibility.
The founders of WagerWire understood the need to build its audience as their product was in development. They created a media engine, entirely on X, using industry and sports news, betting trends & education, commentary on timely events and Spaces interviews to create conversation, build its credibility and lay the groundwork for a rabid community that currently supports this best-in-class startup.
How does this represent “Excellence in Engagement”?
The sports betting market is undergoing a transitional moment where the voice of the consumer is inspiring regulatory, technological and experiential change. While the industry is only five-years old, the evolution of the industry is happening faster than in most well-established vertical markets. WagerWire is completely changing the fan engagement game by turning organic conversations into dynamic narratives that invite participation. They are upending the old models of affiliate marketing and traditional media and creating a new paradigm at a time when legacy companies are struggling to adjust. They have been recognized by Business Insider’s “Top 25 Promising Sports Startups to Watch”, featured on Bloomberg Business of Sports Podcast, and were selected to the Next.io “Hot 6”. They have media partnerships with FanDuel, BetMGM, BetRivers, Caesars, Betr, PrizePicks, Sleeper, Underdog and more. From this grassroots movement, better products are being developed industry-wide focused on the user experience, users are creating standards and advanced consumer protections, and, most importantly, market pricing will become fluid and not set by a select few. Though a startup, WagerWire’s media platform has elevated the company to a leading industry thought-leader, consistently at the forefront for what’s next.
Objective
WagerWire has created one of the most engaged sports betting communities on X. While the initial strategy was to kickstart engagement and build users, it has drastically evolved. The company’s reputation as an engagement engine began to spread and WagerWire built a new revenue stream helping sports betting media companies and brands build their digital presence.
The community has sparked new product innovation. WagerWire leans on its community for product decisions and relies on hundreds of “Alpha testers”, sourced entirely from X to test new features and updates. Through the WagerWire app, bettors have unprecedented control over their choices. Bettors can see how they’re performing by bet type, by sport and by specific sportsbooks, and discuss their ideas and needs with the group.
One specific community idea led to the creation of a Bet-Value Calculator. In betting, sportsbooks will offer a “cash-out option” should a bettor’s bet be close to winning. The cash-out offers the bettor a fraction of funds back before completion of the bet. However, that value offered is often much lower than an open market dictates. The Calculator is one of the most popular tools, receiving tens-of-thousands of hits daily, as bettors look to make stronger decisions.
Strategy & Execution
The modern sports fan is constantly engaging in second (and even third screen) activities before, during and after a game. This can be scrolling X during a game, engaging with the fans of a certain team during the game or monitoring to see how their bets are doing, etc. The modern sports fan also lives in a world where everything they own is an asset to be acquired, sold and flipped to make a profit. WagerWire has married these two concepts and used its presence on X as a rallying point for bettors to meet and discuss if they should let a bet ride, or if they should try to cash out.
With the need for constant content in mind, WagerWire developed multiple content touchpoints to meet the needs of all of its users and not provide a one-size-fits-all proposition. The team shares breaking news, develops specific data sets on league or team performance, industry pulse surveys and Spaces roundtables with some of the biggest and most notable names in sports betting, all with the purpose of creating content to meet their users where they are.
Organizations
- WagerWire
Links
Credits
Travis Geiger
Co-Founder and CXO
WagerWire
Zach Doctor
Co-Founder & CEO
WagerWire
Guy Dotan
Co-Founder & COO
WagerWire
Matt Chaprales
Consultant
Self
Celebrate in NYC
Join us for the 6th Annual Hashtag Sports Awards™ on the evening of June 6, 2024 as we celebrate finalists and reveal the winners of this year's awards live during the show.
