Wagerr

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northbound
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Here's another blockchain project, similar to Augur / Gnosis, but focused exclusively on sports betting:
https://wagerr.com/

"Wagerr uses distributed blockchain technology to execute betting contracts. It escrows stakes, verifies results, and pays out winners. By eliminating central authorities, Wagerr solves the most pernicious problems in the industry."

They are in the middle of an ICO (Initial Coin Offering), so it's possible to "invest" by buying tokens cheaply, with a view to trade or sell them at a bigger price later on.

By the way, if anyone needs help to get involved in these blockchain ICOs (not necessarily this one), feel free to send me a private message.
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northbound
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We are one stop closer to a betting exchange on the blockchain.

Tomorrow, 15 Jan, Wagerr will release the first version of their blockchain. This will allow people to send/receive WGR tokens and setup network nodes.

By the end of March 2017, this blockchain should start supporting h2h betting. For example, I could create a contract for ManCity to win EPL, at odds of 1.05, for 1000 WGR. Another person will be able to take the other side of the bet in its entirety (1000 WGR).

Later this year, this blockchain will support multi-h2h, which is basically Betfair on the blockchain: different people will be able to take a chunk of my (for example) 1000 WGR bet.

Meanwhile, WGR value increased more than 10x since the ICO. Current value is $0.88.
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northbound
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By setting up a Wagerr network node (masternode), you help the network process betting contracts and in return you get 50% of the fee from the bet settlement.

Basically, you can be the house.
mcfc1981
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Got about 2k in this coin
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northbound
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mcfc1981 wrote:
Sun Jan 14, 2018 7:17 pm
Got about 2k in this coin
I got a few as well, but not the 25k required to operate a masternode.

Exciting project. From what I recall, betting contract fees should be 2%, a bit like Smarkets.

It has the potential (long term) of being a great decentralized exchange with plenty of liquidity, because it will be available to people everywhere, compared to a traditional one like Betfair that can’t operate in big markets like the US.
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megarain
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v interesting.

I think they could have done a better job with the employees photos.

A couple look v furtive.


wagerr 2 employees.jpg
wagerr 1 employees.jpg
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megarain
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I was able to register an account, and send some Bitcoin with me being verified.

I presume if I was to try and transact, it might stop me etc.

How can I buy some wagerr coin?

Thx
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northbound
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megarain wrote:
Mon Jan 15, 2018 7:44 am
How can I buy some wagerr coin?
At present time, WGR can only be bought on the Waves platform and the process is a bit long.

1. Download the Waves wallet app on your mobile phone.

2. Create a new wallet, make sure to store its seed safely somewhere so that you can restore the wallet if your phone breaks, etc.

3. In the wallet, click More > Receive Money. This will show your Waves address.

4. Go to https://shapeshift.io, select Deposit Bitcoin and Receive Waves.

5. Enter your Waves address.

6. Send Bitcoin to the address it gives you.

7. In less than an hour, when Shapeshift receive your Bitcoins, it will convert it to Waves and send it to your wallet.

8. Open your Waves wallet, refresh it and you should see some Waves in it. Now click DEX, +, enter “wgr / waves”, add this trading pair to your list, click <.

9. Click on the “WGR / Waves” pair and you’re through to the order book.

10. Click on one of the red numbers. From this page you can basically exchange Waves tokens for WGR tokens and viceversa.

11. Once you go ahead with a trade, return to the main screen of your Waves wallet and you’ll see the updated balances of Waves and WGR.
spreadbetting
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Can't see it taking off if you need to go thru all that hassle before you can even think of having a bet
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northbound
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spreadbetting wrote:
Mon Jan 15, 2018 10:02 am
Can't see it taking off if you need to go thru all that hassle before you can even think of having a bet
In the mid-90s I thought the same about betting on the internet. Then look how massive the internet betting industry became.

Betting on the blockchain won’t be big overnight, but it has potential. The easier the process will become, the more bettors will start using it.

Especially if you consider the low 2-3% fee on winnings and the fact that no one will close your account if you start winning.
spreadbetting
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It's always the lowest common denominator you need to attract to a betting platform not the shrewdies. I'm sure you probably know plenty of people who find, or assume, Betfair is too complicated, they're the people I want to bet against. Using a browser is one thing but all that hassle just to fund an account is going to put people off. Plus I'm not sure the man in the street will no regulations as a good thing. If all the dealers stop using the fruities to clean their cash maybe I'll get onboard.
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northbound
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spreadbetting wrote:
Mon Jan 15, 2018 12:05 pm
Using a browser is one thing but all that hassle just to fund an account is going to put people off.
It is going to, you’re right. At the moment.

But perhaps 1-2 years from now there will be ways to deposit and bet seamlessly on this blockchain: this has the potential of attracting loads of players from all over the world.

Also, some big bookmakers could move away from their traditional odds making business and instead operating Wagerr nodes and creating neat interfaces for players to bet on this blockchain.

If these things happen, WGR tokens that today cost less than $1 could be worth $50+.

So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.
LinusP
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northbound wrote:
Mon Jan 15, 2018 12:26 pm
So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.
Or investing in the dot-com boom...
xitian
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Will the 2-3% commission be settled on your net position in the market, or on each bet you place?

I’m guessing it’ll be on each bet you place since every transaction needs to be paid for to be verified by the blockchain. This would make trading close to impossible. On Betfair, if I have a winning bet and a losing bet of equal value then I pay nothing. Or am wrong?

I also have concerns about latency. For something like horse racing, you need transaction confirmation times in the low 100ms to be able to do what we do now on Betfair. That’s very unlikely to be achievable in a decentralised distributed system. Or otherwise you’ll need a localised intermediary exchange but then that wipes out much of the point of the whole thing.
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northbound
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LinusP wrote:
Mon Jan 15, 2018 12:53 pm
northbound wrote:
Mon Jan 15, 2018 12:26 pm
So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.
Or investing in the dot-com boom...
Amazon, Google and eBay were founded during the dot-com boom.

But it’s also true that I would never have invested a big chunk of my saving on either at the time.

And neither I would now on Wagerr. However I’d definitely invest a small, speculative chunk.
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