A Closer Look at Wagerr
Wanna bet on Wagerr?
An asset for investors who like their odds
Traditional sports betting in many locales is driven underground, leading to corruption, unfairness, and violence. Estimated at $400 billion worldwide, this untapped market offers an incredible opportunity to develop a safe, decentralized, and accessible blockchain alternative. If you’re an investor, speculator, or trader, Wagerr’s model is seriously compelling.
Wagerr (WGR) taps into a vast worldwide sports betting market. Say goodbye to risk and regulation and hello to an asset optimized to grow in value as Wagerr absorbs the pent up demand for secure, self-regulated betting.
However, capturing even a fraction of demand from this market is great, but only goes so far. Transient usage could be a major problem, as bettors generally convert BTC and fiat to WGR only when they want to bet, and back to fiat if they win, leading to a lot of market volatility during major betting events and from large bettors. So why would someone want to hold WGR?
Value Coupling: You can bet on Wagerr
The Wagerr network reduces the risk to value and protects holders of WGR tokens by linking betting volume to coin supply. This “Value Coupling” between usage and supply is a built-in deflationary mechanism that destroys 48% of the fee from every bet. With fees of 2%-6%, the net result is nearly 1-3% of every bet permanently removed from the network.
For example, if price falls dramatically, significantly more outstanding supply is destroyed with every bet, because bets now require more WGR. Conversely, if price rises dramatically, significantly less supply is destroyed. Over time, this leads to less price volatility and an asset value that more accurately reflects both adoption and usage.
Wagerr’s systematic destruction of fees thus creates supply scarcity over time. As the average volume of betting activity over the Wagerr network rises, the value of Wagerr rises with it, enabling all investors to participate in its strong growth potential simply by holding Wagerr.
Watch the video on Value Coupling to see how it works.
Oracle Masternodes: Be the house
For large scale investors, Wagerr’s Oracle Masternodes offer an exciting source of ongoing income. Like Dash Masternodes, Oracles win a portion of the block rewards. (Staking wallets win the remainder.) But that’s just the “icing on the cake” compared to the betting fees Oracles earn. That’s because 50% of all betting fees are paid to the processing Oracle, making them increasingly valuable as betting activity grows. They earn these fees for the intensive work of gathering and validating real world event data and forging contracts.
A better way to bet
Wagerr offers a superior alternative to the existing morass of regulated and underground markets. Wagerr is universally accessible, secure, and safe. By contrast, betting with traditional bookkeepers leaves your capital vulnerable to theft by untrustworthy parties, confiscation by shifting government regulation, and loss due to corporate bankruptcy.
At its most basic, sports betting is fun. It’s an enduring and extremely popular form of entertainment. The demonization, criminalization, and regulation of sports betting have only driven the practice underground, making it far more risky and dangerous, in a cruel self-fulfilling prophecy. Wagerr interrupts that cycle and safely puts the pleasure back into sports betting. Wagerr all you want: it’s your money.
A blockchain for sports bettors
If you enjoy sports betting, Wagerr is custom built for you. For a low fee, you can place your bet in secure escrow and, if you are on the winning side of the bet, get an automatic payout after the event. You can depend on the Wagerr network to confirm real world gaming results accurately because of strict enforcement of the requirements for Oracle Masternodes participation. The penalties for Oracles that attempt to feed bad data to the network are prohibitive. Supermajority consensus among the Oracle Masternode network is required in order to post game results on the blockchain, making results extraordinarily robust.
There's no risk of overleveraged betting because you can't bet more than you have. No loan sharks, no 5-0, no worries about your assets. If you bet with Wagerr, your kneecaps will thank you.
Take back the house
You know what they say: “The house always wins.” Bookkeepers profit from the sure thing — fees. Wagerr not only cuts fees significantly, but enables anyone to own a piece of the house. Oracle Masternode operators become a low cost “distributed house,” earning fees when users bet. But the value proposition for Oracle operators gets better in two ways:
- Oracle Masternodes win block rewards for their role as consensus agents, retrieving sporting event outcomes and collectively validating them.
- Since nearly half the fees are destroyed, the value of the Wagerr token is structurally inclined to grow over time.
You don’t have to operate an Oracle to win with Wagerr. Anyone who holds Wagerr can earn block rewards by operating a regular staking wallet. Bettors save with less spent on fees. And when bettors win, they may not even have to put their winnings in a wallet to win with Wagerr — if betting volume increases substantially, that could be enough to drive up the price of Wagerr through the two simultaneous mechanisms: increasing demand and increasing net fee destruction.
Profits you can feel good about
Wagerr is a carefully incentivized economy. We don’t give away money for nothing. Wagerr rewards work to secure the network, escrow bets, retrieve and validate sporting events, and make accurate payouts. The fee structure incentivizes adoption of Wagerr as the betting platform of choice. And even though investors can win big like the traditional house, you don’t have to act like a thug or a criminal to reap the rewards. Wagerr frees users from fear, risk, material harm, and exploitation and brings pure fun back to sports betting.
Good for digital currency
Wagerr has developed an economy, not just a currency. Innovative blockchain technology lays a crucial foundation to a successful cryptocurrency, but few coins see sustainable value growth and economic stability. Even Bitcoin, the king of digital currency has fluctuated violently between $200 to $2000 in the last year.
Wagerr's focus on sports betting gives it an unbeatable edge over competition:
Known as Application Specific Smart Contracts (ASSC), Wagerr's Smart Blockchain creates an optimized business model inspired by current open ended smart contracts — by pairing them with a single, reliable, rigid function. Smart contracts may be all the rage, but implementations that try to do everything risk disaster. Wagerr sticks to its knitting, doing one thing well: sports betting.
Attractive for arbitrage
Wagerr offers a better solution to a problem traditional sportsbooks commonly face. Frequently, mainstream sportsbooks find that they have taken on too much payout liability when their customers’ bets are unbalanced, strongly favoring on one side. If the overweighted team wins, the sportsbook has to pay out big time. They typically manage this liability by placing their own bets on the underweighted side — with competing sportsbooks.
Although Wagerr's low fees, automated payouts, and strong security against manipulation make it a competitor to traditional sportsbooks, the blockchain also offers a potent arbitrage solution at a competitive price.
Wagerr is a win
When you add it all up, here’s what you get. A blockchain that makes sports betting safe, secure, and potentially more profitable — for a $400 billion/year untapped industry. A deflationary coin whose value is tied to capturing market share of that $400 billion/year industry. A coin that lets Oracle Masternode operators profit, first from providing network security and betting service, and second from a deflationary economy. A coin in which its value is driven up by the scale of betting activity. A coin that gives everyday holders a chance to capitalize on the value growth of Wagerr by staking coins in the easy-to-use HTML5 wallet to win regular awards, or simply by holding on to Wagerr. As betting volume and coin value grows, everyone wins.
If the Wagerr sports betting blockchain captures even 0.25% of the global market — just the illegal market — we’re looking at one billion Dollars worth of betting activity. The corresponding fees destroyed would cut the total coin supply in half in one year. (Estimate assumes the price of WGR holds constant at the ICO price.)
So, we’re feeling pretty good about things. If we were the betting types, we’d be going all in. But since we’re mainly digital currency developer types and business developers, well, nevermind, we’re going all in anyhow because we absolutely believe in the project.
Remember, early supporter bounties begin May 25, and Round 1 investors can receive up to a 9% bonus. Register now, then head over to the bitcointalk.org announcement thread for details. Or chat directly with the team on Wagerr Slack. We're happy to answer any questions, and you never know when we may hand out FREE WGR!
And for a quick overview be sure to download the announcement poster and watch the videos, What is Wagerr?, and Value Coupling.
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The future of betting is accessible, fair, and safe. Betting belongs on the blockchain, and that blockchain is Wagerr.