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The sports betting business is one that is built on trust: if regulations change and bettors are left without a payout, or if bad actors take advantage of those who just want to bet on their favorite teams, then the whole betting experience can be ruined. Even the underground betting industry is filled with violence, corruption, high fees, and intimidation.
The problem has even forced numerous governments to publish guides that will help citizens stay away from betting schemes that end up costing them thousands of dollars – just last year, police managed to take down a scam that cost bettors over $10 million in Australia.
Wagerr (WGR) is the solution bettors have been waiting for, as it is a fully decentralized, self-regulating, sports betting blockchain network that allows users to bet securely, as rigid smart contracts ensure reliable betting by validating sporting event outcomes and automating payouts.
Regular sportsbooks charge fees that can go as high as 10% or more, while on Wagerr, betting fees only go as high as 6%, and can be as low as 2% – allowing them to earn more on every bet. Oracle Masternodes execute the betting smart contracts and validate game results – essentially functioning as consensus agents – and are operated by investors who in return benefit from bet fees and fixed periodic block rewards.
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Stakes are escrowed until game results are verified by the smart contracts. The Oracle network validates game results from multiple real world data sources, which ensures winners get paid reliably. Since there is no central authority to deal with, changing regulations, violence, and intimidation are not a part of the Wagerr experience.
Enhancing the Wagerr token
Through a mechanism dubbed “Value Coupling”, the Wagerr system is able to link its usage to the value of Wagerr tokens (ticker: WGR) so that as the volume of betting grows, the price of WGR is driven up. 50% of the fees go to Oracle Masternodes, and 2% help fund the platform’s development. But the remaining 48% are burned so that the number of tokens in circulation decreases, ensuring scarcity drives up the value of Wagerr tokens.
Thanks to the Value Coupling mechanism, anyone who holds tokens will benefit in the long-run from growing demand, which can be expected given its superiority to traditional sportsbooks.
Moreover, the decentralized platform is built so that it is easy to use on every device. Wagerr will offer three types of betting: head-to-head betting, multi-user betting, and direct on-chain betting.
How to Join Wagerr
Wagerr’s Initial Coin Offering (ICO) will start on the 1st of June and will end on the 25th. The ICO will have 10 rounds, each with 8.5 million coins on offer. A progressive bonus system that rewards early adopters will be in place, as round 1 participants get a 1% bonus at the end of each subsequent round – round 1 participants, as such, can get a maximum 9% bonus.
On rounds 6-10, investors will have the chance to win golden tickets worth 150,000 coins each. If you would like to know more, visit Wagerr’s Bitcointalk thread and join their ICO so you can then take advantage of the decentralized platform that brings blockchain technology and smart contracts to the betting industry.
Featured image from Shutterstock.
