February 02, 2021 |James Messi
A Project You Can Bet On: WAGERR
Prediction projects have been around for a while now. During that while, Wagerr has been masterfully upsetting the entire sports betting industry with a project that features a re-engineered economy from the ground up. Targeting traditional issues sports bettors have like the privacy of their personal information, the limitation of bet sizes and the reliability of payouts, the Wagerr team has constructed their ecosystem in such a way that these problems are eliminated and the correct behaviors are incentivized – behaviors which add value to the Wagerr network. That value is translated through novel subsystems and protocols into the Wagerr coin. The coin is also designed to be selectively deflationary depending on market conditions. Simply, Wagerr programatically burns 50% of the betting fees and thus ensures that the value of the Wagerr coin is tied to the value of the betting platform. After bets are placed on an event on the Wagerr platform, Wagerr’s network of oracle masternodes determine the outcome through a supermajority consensus and the smart contract is automatically executed. A percentage of the fee is paid out to the nodes to incentivize validations. Wagerr was the first project in this space to utilize an incentivized oracle masternode model to achieve the consensus on event outcomes which triggers payouts for users’ contracts. Currently the network comprises 2852 live oracle masternodes which work in tandem to maintain the Wagerr blockchain.
Native Coin: WGR
Total Supply: 217 million tokens
Investors have three key options for investing in WGR. Buying and holding WGR, staking WGR in standard staking wallets, or acquiring enough WGR to operate an Oracle Masternode. The last option, Oracle Masternodes, offers the most to investors because they win ongoing staking awards, and they also earn a clip of the betting volume that occurs on the platform.
Ease of Use
Users can bet directly against the blockchain, which means bettors have confidence that they won’t be restricted on bet sizes, or cut-off if they are a winning bettor. Wagerr also provides peace of mind that all winning bets are guaranteed to be paid out by the blockchain. Wagerr has an intuitive Sportsbook that makes betting on a blockchain fast, simple and Fun. Check it out here.
What do you get with Wagerr
A few key advantages set Wagerr apart – both as a betting platform and as a crypto project.
Here are just a few of the perks Wagerr users enjoy:
Wagerr Offers Better Odds
Wagerr’s top benefit, especially for those that bet frequently or with high amounts, are the favorable odds that are set relative to competing sportsbooks. Consistently receiving higher payouts while risking less money can have significant impacts on your long-term profits or losses. In the simplest terms, Wagerr’s odds put more money in your pocket when you win while letting you keep more when you lose.
To understand how impactful the difference in odds can be, follow the three graphics below. The first graphic displays Wagerr’s current odds for the upcoming NFC and AFC Championship games. The second graphic displays the odds for the same games, taken at the same time, from a competing sportsbook called Bovada.
The third image replaces the odds with the difference in payout or risk if you make a bet with Wagerr or Bovada. The top number represents the additional payout you would receive by betting $100 at Wagerr instead of Bovada. The bottom number represents how much less you need to risk on Wagerr to win $100.
In the third graphic, you’ll notice that a bettor who believes that the Buffalo Bills will cover a 3 point spread will win $3.00 more by placing a $100 bet with Wagerr instead of Bovada. At the same time, the bettor can win $100 by risking $1.61 less on Wagerr. By taking these variations in payout and extrapolating them out to hundreds or thousands of bets, you can see how even slight differences in odds can make or break a long-term betting outlook.
Wagerr Sportsbook NFC & AFC Championship Odds
Bovada NFC & AFC Championship Odds
Wagerr vs. Bovada result comparison. Payout on $100 bet (top). Risk to win $100 (bottom).
Dealing with traditional sportsbooks, particularly offshore sites, leaves you exposed to counterparty risk and identity theft. On one hand, sportsbooks often operate in a legal grey area. This makes it hard for them to secure banking partners leaving their payment systems unreliable, slow, and expensive. It even exposes you to the risk of the sportsbook being shut down. At which point, you may have zero recourse in terms of getting your deposit back.
In an effort to comply with regulations, sportsbooks often require you to verify your identity before you can withdraw your funds. If countries and corporations with infinite resources can lose your personal data in a hack, you can fairly assume your data will be no safer in the hands of a centralized sportsbook.
Let’s go through these issues to see how Wagerr’s decentralized structure eliminates the potential for identity theft and other third-party risks.
“On one hand, sportsbooks often operate in a legal grey area. This makes it hard for them to secure banking partners leaving their payment systems unreliable, slow, and expensive.”
All betting on the Wagerr Sportsbook is done with the Wagerr (WGR) token, which features fast and affordable transactions with no risk of being canceled by an intermediary.
“It even exposes you to the risk of the sportsbook being shut down. At which point, you may have zero recourse in terms of getting your deposit back.”
On Wagerr Sportsbook, you deposit funds by importing a digital wallet that has WGR tokens in it. Type in your seed phrase to connect your wallet and bet with your WGR tokens. Or if you’d like, you can generate a new wallet on the platform and send WGR tokens to it.
The platform never sees your seed phrase and has no way of accessing your wallet. If the sportsbook went down for any reason, you still remain in control of your wallet, and by extension, your money.
“In an effort to comply with regulations, sportsbooks often require you to verify your identity before you can withdraw your funds.”
Wagerr Sportsbook does not require you to provide any identifying information. To create an account, simply import your wallet’s seed phrases or generate a new one on the platform. You don’t even need an email address to bet on Wagerr.
Traditional sportsbooks are expensive. On top of the reduced winnings and higher losses that stem from the less favorable odds provided, high transaction fees for deposits and withdrawals are also common.
Compare the deposit and withdrawal fees incurred by those using Wagerr and a legacy sportsbook like Bovada:
● WGR transaction network fees are fixed at 0.1 WGR ($0.0038 as of 1/18/2021) for both deposits and withdrawals.
● Bovada charges a 5.9% fee on deposits and $100 per withdrawals made after the first of each quarter.
● Bovada Bitcoin deposits and withdrawals incur Bitcoin’s network fee ($12 as of 1/18/2021).
Wagerr Sportsbook is the only betting platform that does not cap the amount you can win on a bet. While there is a 25 WGR minimum bet, bettors have the freedom to raise the stakes as high as they’d like on Wagerr.
To get started placing bets on Wagerr, simply create an account on their sportsbook and deposit WGR tokens to fund your account, which you can now acquire through Beaxy using the instructions below. Having acquired WGR tokens, initiate and confirm a WGR withdrawal from your Beaxy WGR wallet to your Wagerr platform wallet address. This will fund your Wagerr account. After you are done there, head over to Telegram, join the Wagerr chat, and let them know you’re from beaxy. They’ll hook you up with your first WGR bet on the house!
How to buy WGR on Beaxy
Acquiring WGR tokens has never been easier. Buy, sell, trade, and withdraw WGR when you:
- Register a free account on Beaxy Exchange
- Pass a quick KYC identity verification (less than five minutes on average)
- Make a deposit using crypto, credit/debit card, or wire transfer
Follow those three simple steps and you are set to access the WGR-BTC trading pair on a secure, compliant exchange. All crypto assets on Beaxy are secured by Curv Multi-Party Compute (MPC) custody and fiat currency holdings are backed by FDIC insurance up to $250,000. Aside from that, creating an account on Beaxy Exchange gives you the power to:
- Buy, sell, and trade more than 30 popular cryptocurrencies including Bitcoin and Ether
- Receive a 30% commission on all your referrals’ trading fees
- Use ground-breaking trading tools like Trender and Signals to catch the next pump
- Automate your trading through premier integrations with Gunbot and Hummingbot