Topic: Wagerr - No limit, non-custodial betting (Read 339 times)

Depend who you ask. the guy that bet 25k USD on Indians yesterday and won is loving it atm.

NFL Kickoff Tonight!

Celebrate with #Wagerr.

Get 10% payout bonus on 5-leg #parlays.

Include at least one NFL September event. Tickets with refunded events not eligible.

And just to add to that in May we averaged ~1.2m USD per week. So clear that what you are saying is misinformed.

I mean I understand liquidity on exchanges could be better and there will be more liquidity pools as we go. But you can still move in and out relatively easy. Between Ionomy and the dexes you can easily take positions and offload WGR - plenty of people have done this in the community.

And when you say no gambler would buy it to make bets ignores the fact that we have 200k USD bet per week. People are buying it and betting with it.

Earn a clip of the betting volume u say? Oh alright but the problem with this is still the liquidity u do not have. Because for the bet to be made in the first place the one should buy WGR token to make the bet with and that is alone a trouble for any risk-savvy gambler. Because WGR valuation is closer to zero than crustacean excrement no gambler would buy it to make bets.

Apparently only sportsbooks that accept Bitcoin are allowed on that board. Seems strange to me but I guess it's a Bitcoin forum.

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yes. no keys, no coins

This thread should belong to the Gambling section because you are essentially providing all the information about it.

By the way, I quickly checked your sportsbook, and I indeed like the odds on display there. Make no mistake guys, I haven't played there yet but the odds are better than most sportsbooks, even passing the likes of bet365 in that regard. I also like the private betting part but request you to probably move it to the gambling section so more players get to know about this.

Interesting stuff. So if someone creates an account, you provide those seeds and if the bettor losses it, he then has to create a new one and the lost account if there's a balance, there's no way to retrieve it. Just as the usual thing we do in our wallets.
Your bookie is missing boxing.

I don't fully understand what you mean, is it a human or a bot who is setting the odds currently? How odds will be set when feeds will not be used anymore? It would be more interesting and more decentralized if the sportsbook was also offering some mutual bets IMO.
For the margin you're right it seems to be pretty low (about 3% from what I see)

There is a house Edge, it is just very small. Comparable to the likes of pinnacle.

The blockchain is who is 'taking the other side of the bet'. The odds are set by taking an average of feeds and then using an algorithm to help balance the book. As more volume comes to Wagerr the plan is to not use any feeds at all.

Users cannot lay bets currently.

Interesting sports betting site. Just need more betting market especially in boxing sports. There are lots of upcoming boxing events and want to see the odds provided on your site.

I will follow the site and see the improvements on the way. I will explore it now.

You can move the thread here: https://bitcointalk.org/index.php?board=56.0 . It's more appropriate and fits there.

"Due to gaming theory the house will win over time" : what do you mean by that precisely please? Why would the house win over time if there is no House Edge (vigorish)? Moreover I have a question, who is fixing the odds of the bets? Can anyone offer lay bets like on betting exchanges?

I think the biggest thing people need to understand that it's not a 3rd party paying bookie just taking bets in wagerr.  No other coins can be offered because you are directly betting against the wagerr blockchain.  If you lose coins get burned, if you win coins get minted.  Overall due to gaming theory the house (blockchain) will win over time.  So the blockchain will continue to burn circulating (and therefore max) supply. 

Wagerr doesn't have a casino. But yes you can only bet in WGR, there are reasons for this, the most important being that it is the only way we can actually offer no limit betting.

Too many things to list of what Wagerr has done since ICO but I think having a look at the blockchain explorerexplorer.wagerr.com and the sportsbook wagerr.com/sportsbook as a starting point might give you an idea. There has been a few iterations to get to something that works as smoothly as the sportsbook all on chain.

Wagerr has it's own blockchain - this is very important.

Wagerr doesn't compete with other applications for block space. Because we have our own chain we can optimize the chain for our specific use case (Sports betting). This means that Wagerr has low fees and can handle a lot of transactions the exact TPS i'm unsure of but the codebase is not far off Dash and as I said we are only in one niche.

Wagerr isn't a casino (yet) we are building games like a casino in the future but right now Wagerr is effectively a sportsbook. You can see a web wallet here wagerr.com/sportsbook which should give you an idea of what Wagerr is.

I'm not entirely sure I follow your question but I think the answer is that Wagerr is specialising on utilizing the blockchain to act as a bookmaker, whereby the blockchain is accepting and paying out bets. it is a dapp and blockchain in one. Wagerr is not building for general purpose (like Ethereum/solana/BSC) it is building for one use case.

I understand but if we were to offer other coins we wouldn't be able to offer no limit betting. This is actually one of the key things that makes Wagerr different.

I posted earlier that likely sportsbooks will leverage Wagerr in the background so you can bet with any currency with them and they can de-risk their liabilities by using Wagerr. So whilst some people want to bet with WGR there is a reason we don't allow it and actually there is a reason why people should. Wagerr actively burns WGR, less WGR s good for the value of the existing coins in circulation.

Sure! It is because of the way betting works. We call it "Peerless direct chain Betting". It is in my opinion the biggest innovation has brought to market. You can read more about it here https://docs.wagerr.com/learning-wagerr/betting/peerless-on-chain-betting but let me also try to explain it.

So let's say yo want to make a bet of $50,000 on the LA Lakers paying $1.50.

When you place the bet you have to make the bet in WGR. SO you have to purchase $50k in WGR and then place the bet. When you place the bet you are actually making a contract with the blockchain.

The blockchain is programmed to accept the bet and will burn the WGR coin when you make the bet. (This decreases the overall supply of WGR in the market).

If you lose the bet. The WGR remains burned and a permanent loss of WGR from the supply has occured.

If you win the bet. The blockchain "mints (creates more) WGR to pay out your bet i.e. it would mint $75k worth of WGR.

You as the bettor if you want can then take your WGR to the exchange and convert it back to USD or Bitcoin etc.

Because the blockchain can mint new WGR to pay out a bet it can take on very large bet amounts.

Keep in mind that whilst Wagerr doesn't limit people's bets there is a limit of 10k WGR per bet slip and odds can change. so at a certain point you might not be priced in.

you can scan through explorer.wagerr.com to see big bet volume, the odds allow alot of flexibility on bets, so the liquidity is deep.

I hope this make sense, it is a new and different concept and admittedly took me a while to get my head around initially but the deeper I have dug the more it makes sense.

Is the token to be waggered only in the platform only WGR?

I have also heard of the project a long time ago. Its surprising its still active and launched their project after years had passed. They could have promoted the casino while they are developing because it takes years to build a reputation. What did the team do since the time after ICO?

A crypto gambler will like to play gambling at a casino that does not require KYC, no need email to registration or other things related to their identity because they can hide their identity without worry about scamming or hacking that can happen to that casino. Having many coins to deposit and bet can make gamblers visit that casino and gamble with their favourite coins. If the casino can give the gamblers easy to play gambling and do not have too complicated things for the gamblers, that casino can grow and have many members in the future.