Yahoo is looking to elevate engagement amongst sports fans with the acquisition of peer-to-peer wagering platform Wagr.
As a result of the deal, Wagr will be integrated into the Yahoo Sports product, as the firm looks to bolster its range of engaged consumers.
“We are incredibly excited to welcome Wagr to the Yahoo Sports family,” said Jon Shaw, SVP of Yahoo Sports. “While we know our fantasy leagues increase fan engagement and give people something to root for, the real value is in keeping friend groups together through competition and camaraderie around the sports they love.
“Acquiring Wagr creates an immediate opportunity for us to expand into new group formats that can take engagement and friendly competition to the next level.”
Yahoo is a significant player when it comes to season-long fantasy sports, which are free to play but often participants organise pools around the results.
Wagr would augment that offering with the chance to make real-money bets with one another as well. Wagr operated in Tennessee in 2022, but recently shut down operations and does not engage live in any real-money markets.
“Yahoo Sports offers us a stage to build products that will reach millions of loyal fans that have connected over fantasy sports for decades,” added Mario Malavé, Co-Founder and CEO of Wagr.
“The unique combination of Yahoo’s scale and engagement creates opportunities for virtuous product loops between sports media and gaming. Joining Yahoo allows us to continue delivering on our mission to connect fandom to social gaming while elevating our ability to execute through expanded resources, new partnerships, and technological capabilities.”
