{"id":270481,"date":"2023-04-25T16:13:56","date_gmt":"2023-04-25T21:13:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=270481"},"modified":"2023-04-26T15:39:02","modified_gmt":"2023-04-26T20:39:02","slug":"yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/","title":{"rendered":"Yahoo Boosts Social Gaming Presence with Wagr Buy"},"content":{"rendered":"

In an effort to further solidify its already expansive fantasy sports footprint and potentially expand further into sports wagering, Yahoo announced Tuesday it’s acquiring Wagr, a peer-to-peer sports betting app.<\/p>\n

\"Wagr\"
A logo for internet search firm Yahoo. The company is acquiring Wagr to add to Yahoo Sports’ roster. (Image: Yahoo)<\/figcaption><\/figure>\n

Financial terms of the transaction, which has already closed, weren\u2019t disclosed. Privately held Wagr was the first social gaming company in the US to land a sports wagering permit, having done so in Tennessee<\/a>.<\/p>\n

The acquisition of Wagr is an exciting step in the development of the next generation of Yahoo Sports’ gaming portfolio,” said Yahoo CEO Jim Lanzone in a statement. “Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-winning fantasy platform that has brought tens of millions of fans together around their love of sports for over 20 years.”<\/p><\/blockquote>\n

Yahoo is 90% owned by private equity giant Apollo Global Management<\/a>, which has extensive gaming industry experience. Verizon Communications owns the other 10%.<\/p>\n

Sensible Acquisition for Yahoo<\/h2>\n

Yahoo acquiring Wagr makes for a practical bolt-on acquisition for the buyer\u2019s Yahoo Sports arm.<\/p>\n

That\u2019s one of the parent company\u2019s most profitable and visited units. It has the second-largest fantasy sports platform, behind only ESPN,<\/em> and has recently attempted to broaden its footprint in the sports wagering space.<\/p>\n

Last year, speculation surfaced that Apollo wanted to merge Yahoo Sports<\/a> with an established sportsbook operator, but a deal didn\u2019t materialize. For Apollo, the acquisition of a sportsbook operator makes sense because Yahoo Sports has millions of fantasy sports players who could be converted to sports bettors.<\/p>\n

That playbook was used by FanDuel and DraftKings, which started out as daily fantasy sports (DFS) companies, and now combine to control approximately three-quarters of the domestic online sports betting market.<\/strong><\/p>\n

Wagr will be fully integrated into Yahoo Sports. The target brings \u201cextensive experience in social mobile app development, user experience and community driven games,\u201d according to the statement.<\/p>\n

Impressive Investor Roster<\/h2>\n

As has been the case with so many emerging growth companies in the fantasy sports and sports betting industries, Wagr attracted some well-known investors. Those include venture capitalists and professional team owners.<\/p>\n

Wagr has attracted significant investments from renowned organizations, individuals, and prominent venture capital firms including Seven Seven Six, led by Reddit cofounder Alexis Ohanian; Greycroft; Pear VC; the Kraft Group, owners of the New England Patriots and New England Revolution; Harris Blitzer Sports & Entertainment, owners of the Philadelphia 76ers and New Jersey Devils and BITKRAFT Ventures,\u201d according to the press release.<\/p><\/blockquote>\n

Kraft Group was an early investor in DraftKings, among other sports companies. A group led by Harris<\/a> is in pole position to acquire the NFL\u2019s Washington Commanders.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an effort to further solidify its already expansive fantasy sports footprint and potentially expand further into sports wagering, Yahoo announced Tuesday it’s acquiring Wagr, a peer-to-peer sports betting app. Financial terms of the transaction, which has already closed, weren\u2019t disclosed. Privately held Wagr was the first social gaming company in the US to land […]<\/p>\n","protected":false},"author":46,"featured_media":270482,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,32093],"tags":[81903,81931,81966],"acf":[],"yoast_head":"\nYahoo Buys Wagr To Bolster Yahoo Sports Betting Ambitions<\/title>\n<meta name=\"description\" content=\"Yahoo acquires Wagr to support Yahoo Sports wagering profile.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yahoo Buys Wagr To Bolster Yahoo Sports Betting Ambitions\" \/>\n<meta property=\"og:description\" content=\"Yahoo acquires Wagr to support Yahoo Sports wagering profile.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-25T21:13:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-26T20:39:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/yahoo2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1450\" \/>\n\t<meta property=\"og:image:height\" content=\"815\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/\",\"url\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/\",\"name\":\"Yahoo Buys Wagr To Bolster Yahoo Sports Betting Ambitions\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/yahoo2.jpg\",\"datePublished\":\"2023-04-25T21:13:56+00:00\",\"dateModified\":\"2023-04-26T20:39:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Yahoo acquires Wagr to support Yahoo Sports wagering profile.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/yahoo-buys-wagr-to-bolster-yahoo-sports-betting-ambitions\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/yahoo2.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/yahoo2.jpg\",\"width\":1450,\"height\":815,\"caption\":\"A logo for internet search firm Yahoo. 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