Available on both Android and PC

Wagerr launches decentralized betting blockchain

Wagerr uses distributed blockchain technology to execute betting contracts, escrow stakes, verify results and pay winners.
2018-09-19
Reading time 2:14 min
The company announced last week that it introduced the first "Direct-Chain" betting protocol, creating an unrestricted, decentralized and globally accessible betting application, available on both Android and PC.

With a "Direct-Chain" betting fee of just six percent on winnings, Wagerr users worldwide can securely place bets against the blockchain and get paid without a centralized authority.

This low fee means that the Wagerr blockchain offers some of the most competitive odds in the industry. Plus, all WGR users benefit from betting activity: half of the fee is destroyed ("burned") — reducing the outstanding supply over time — while 40 percent is distributed to the active WGR Masternodes that secure the blockchain. And as betting activity rises, WGR supply becomes more deflationary.

Gambling, specifically sports betting, is a phenomenally large industry, generating revenue in the trillions of dollars each year. People all over the world like to wager, legally or otherwise. It is difficult to find a more widespread, popular and lucrative industry worldwide. It truly encompasses the whole world. It is unfortunate that bettors wishing to engage in their hobby currently face issues such as a lack of trust, lack of fairness, poor or no availability to them and security mishaps, just to name a few. Unfairness has become a staple of the sports betting industry and, until now, nobody has been able to do anything about it.

Wagerr solves these problems by using distributed blockchain technology to execute betting contracts, escrow stakes, verify results and pay winners. By eliminating central authorities, Wagerr solves the most pernicious problems in the industry, thereby reducing corruption and risk. The result is predictable operation, unprecedented transparency and a positive user experience.

The first blockchain betting event was the boxing event "Canelo Álvarez vs. Gennady Golovkin II."

The first weekend of action on the WGR betting market saw over 400,000 WGR bet. Because bets are burned up front and new coins are automatically created (minted) to pay winners, an underdog win for Canelo resulted in a net burn of over 107,000 WGR. This information is transparently accessible via a blockchain explorer.

In total for the event, 125,000 WGR was removed from the total coin supply. This is just one of the many ways WGR holders can benefit from "being the house" without even betting.

With the flawless release of its blockchain based "DApp," Wagerr aims to disrupt one of the world's largest industries. During its next phase of development, ongoing marketing and user adoption efforts seek to gain a significant share of the world's global betting revenue and establish Wagerr as a frontrunner in the sports betting industry and a leading decentralized blockchain application.

"Wagerr enables the whole world to bet safely on their favorite sports. We gave considerable thought to 'tokenomics' to optimise network value. And we are committed to a great user experience, leading to a vibrant community. Good luck and have fun!" - David Mah, Wagerr Founder/CEO

"The Wagerr system is decentralized and self-regulating, and these qualities enable Wagerr to deliver secure, private and safe sports betting to the entire world. Users avoid the high fees, corruption, limitation, restriction, legal repercussions and violence prevalent in today's industry. Using Wagerr is accessible, fair and safe. Say goodbye to risk and regulation, and say hello to Wagerr, a revolutionary DApp optimized to programmatically become more deflationary as it absorbs pent-up demand for secure, trustless betting." - Jason Tauriello, Wagerr Director of Operations

Leave your comment:
Subscribe to our newsletter
Enter your email to receive the latest news
EVENTS CALENDAR