Using blockchain for Sports Betting has huge potential, but so far there is nobody with a working product that fully focusses on this market. Wagerr 100% focuses on sports betting and the WGR token will have to be used to place bets on their platform. The way they offer bets will de done gradually in different steps with different commissions of which a part will go to the ones who run a masternode (25000 WGR needed to run one) and settle the betting results and smart contracts.
- Stage 1: Offer a head to head exchange with 1.98-1.98 odds.
2 players who want to bet the same amount on opposing sides get matched with a smart contract, the winner gets the payout (2% fees). - Stage 2: Offer a multi user exchange with 1.96-1.96 odds.
1 big player wants to bet a lot on a certain side and gets matched with many smaller players who want the opposing side (4% fees) - Stage 3: Offer bets themselves peerless direct on chain with 1.94-1.94 odds
For as far as I understand they will offer bets themselves where new coins get created for winners while lost coins get burned (6% fees).
~50% of the fees go to the ones who settle the bets by running a masternode
~50% of the fees get burned which decreases the supply and increases it's value
This is just my basic understanding, check their whitepaper for more details
Wagerr Price Chart
My main concern for this project by far is their team who haven't given any reason to be confident about this project so far. The price stayed at an all time low after they screwed up payments on the mayweather promotional bets they accepted. When they finally announced a launch date, the price went 10x to see it drop all the way down again after a last minute delay. They have a history of poor communucation and making avoidable mistakes which should be a big red flag for anyone who plans to invest on this project. It will be interesting to see how things evolve this friday when they are supposed to release their main net. They allready stated that they will burn 5000 of their own tokens for each day the launch gets delayed.
There are plenty of things to like about this project. They are 100% focussed on the sports betting market and have a good name and logo branding. Being first to market can be a big advantage and their fee and token buring structure looks interesting. I am looking forward to test out their platform once it gets released as I have been holding on to the small investment I naively made. Knowing how big of a questionmark this team is, this is a very high risk coin with mostly short therm potential. What I really look out for is project announcements on EOS that is able and focusses on offering extremely competitive odds.
In the short run, it won't be a surprise to see a big jump in the price if they actually release their main net and get listed on a bigger exchange which is something they clain will happen. In case of another delay the price will likely go down more. This was a recent message from the CEO on Telegram...
"David Mah: technically we will start testnet at the same time, but its not possible to have head 2 head immediately for the following reasons 1. the 2nd layer network encompassing betting will need to be secure and stable ie, a good amount of nodes online, 2. introduction of zero coin after we distribute mainnet coins we will start distributing testnet coins to testers also we are looking at services to mask the IP addresses of the oracle / master nodes. after we launch 2 things will happen in parallel, conversion to HTML5 wallets and integration of H2H to testnet. the required daemons powering the HTML wallets are already complete. Im hoping to have bet on chain ready by ICE conf in london or where ever it may benext year to steal the show. well , we will still steal the show with head to head. ""Mark Roddy:
it seems we are still under the radarDavid Mah:
not so much under the radar after THIS upcoming exchange listing "