For the most part, online gambling provides more of a solitary experience than an opportunity to socialize while playing casino games virtually. But this setup could soon change.
Just last month, Reddit co-founder Alexis Ohanian made it known that he’s investing $4 million in seed money to an app designed to combine online gambling and social media, according to Bloomberg.
Called Wagr, the sports-betting app will provide punters more than just an easy way to place their bets on sports. It will link friends and give them a convenient way to bet together on sports instead of casinos.
The startup behind the app, which is also called Wagr, was founded in April 2020. The makers envisioned a social platform that will make it easier for casual wagers to join in on the fun of online gambling.
“It’s about productizing what already goes down in everyone’s group chat, which is wagers between friends about sporting outcomes,” Ohanian said of the app.
Aside from drifting away from the typical virtual casino setup, Wagr is also looking to attract clients with its less discriminating user experience. National Post reported that the app will put emphasis on users not needing betting experience and know-how to take part in it.
The idea of attracting more casual gamblers through sports betting is not new at all. In fact, DraftKings and FanDuel have already established their names in this type of market.
“Our app really strips down the betting experience to the bare essentials — we’re launching with point-spread bets only,” Wagr founder and CEO Mario Malave said.
“From a user’s perspective, all you have to do is pick a team, decide who you want to bet against, and select how much you want to wager,” he added.
Apart from Ohanian, Wagr is also backed by Tinder co-founder Justin Mateen, former Saks chairman and CEO Brad Martin, as well as Pear Ventures and Grecroft.
The success of Wagr could open the doors to the union of online gambling and social media in the long run. This could also help expand the reach of online casinos to casual gamblers and people who have yet to experience what it’s like to engage in virtual gambling.