London start-up Wager has become the latest incumbent to tackle betting’s ‘social wagering conundrum’ after launching its propitiatory producing on the Apple App Store.
Founded by Oxford University graduates, and co-founders, Leo Barnes and Elliot Robinson, the enterprise will be seeking to move wagering away from traditional bookmaker targets via tapping into betting’s ‘growing social trends’.
Launching its app, Wager believes that they have developed the most complete digital solution which will overcome barriers which have afflicted previous ‘peer-to-peer’ betting incumbents, offering bettors fairer and much better odds, which come with the tracking of wagers, supported with social dynamics to drive customer engagement.
Leo Barnes, Co-Founder of Wager, details said to Sports Betting Community: “Sports fans love betting against their mates but having to chase winnings and pay in cash is a painful, outdated experience. Wager brings social betting onto an app and makes the experience slick and easy for punters.
“The app delivers live odds, instant pay-outs and performance tracking – it is the perfect way to put your money where your mouth is.”
Wager has been backed by London venture capital fund Forward Partners, with the start-up having raised £500,000 in enterprise investment.
Industry observers will be monitoring Wager’s movements closely, where they will be tackling peer-to-peer dynamics which have proved too complex for former challengers such as Flutter.com (a defunct former competitor to the Betfair Exchange), and Colossus Bets, who changed its enterprise model to a traditional exchange format accommodate for VIP punters.
Elliott Robinson, co-founder at Wager, added: “We are delighted to have launched Wager and are very proud of the product we have created. As the new season gets going, we want to introduce the latest betting app that will create a buzz between friends up and down the country. On Wager, bets are always between mates, which is important to us, as healthy social competition is at the core of what we do.”
