Wagerr - blockchain based P2P betting platform

[Optional]

I've been hoping something like this would appear sooner than now. And after a quick read over the website and their plans I'm not sure this as decentralized as I had hoped and think it needs to be.

Anyone had a better look at this and have an opinion?

wagerr.com

[rounder3980]

i looked at the site...how would this work?

[Buffalo Nickle]

Based on the video, it seems a new coin and you will hold wagerr and it will be like having an account at a bitcoin only book because the value will fluctuate. Only popular bitcoin book is Nitrogen because you do not have to hold bitcoin. That is going to be a major problem if they cannot offer a stable value.

[Buffalo Nickle]

The more bets comes in the higher the value of wagerr goes. Sounds like a pyramid scheme to me.

[littlekona]

I've been following there twitter they raised 1.75 million usd today alone on the ico offering..I'd like to find out more not sure when the actual wager platform opens

[Buffalo Nickle]

I've been following there twitter they raised 1.75 million usd today alone on the ico offering..I'd like to find out more not sure when the actual wager platform opens

Yes, they are getting set up with people investing and testing the thing apparently. There is another one similar that is doing the exact same thing and has a similar schedule. Looks a little too similar to me and a little fishy. I will just let this thing go a few years before I jump in.

[Optional]

The more bets comes in the higher the value of wagerr goes. Sounds like a pyramid scheme to me.

I've been following there twitter they raised 1.75 million usd today alone on the ico offering..I'd like to find out more not sure when the actual wager platform opens

That's the vibe I got too... crypto people excited about packaging an investment in a unique way, but not so interested or expert in the betting side.


Although I have mentioned before that funding will be the big hurdle to getting a quality P2P/Blockchain based exchange... so this is one solution to that side, if it works.

Looks like the sportsbook part is a long way off still.

[Buffalo Nickle]

That's the vibe I got too... crypto people excited about packaging an investment in a unique way, but not so interested or expert in the betting side.


Although I have mentioned before that funding will be the big hurdle to getting a quality P2P/Blockchain based exchange... so this is one solution to that side, if it works.

Looks like the sportsbook part is a long way off still.

Yes. Think they are looking for ideas to get money to fund a project and make money off of that now with bitcoin red hot. I doubt if gets past Go. The whole concept is very strange and if you look further at the fees would not be particularly attractive.

For example, if you cannot match up with a bettor, they will take your action but for a 6% cashout fee. Once you factor in -106 lines and all the fees, it is not going to be that attractive to then take a chance on a new currency on top of it which is based on some bizarre formula of betting action.

[Buffalo Nickle]

Now check out PEERplays which is doing basically the same thing but this one is not focused on sports gambling. It is doing to have all kinds of different things from fantasy to individually created contests to sports gambling but you will fund it with bitcoin and then have the option of purchasing some weird user issued assets that people create on their own which apparently might even include different types of currencies.

It is an interesting concept but people can barely figure out bitcoin and then are going to take the deep dive on this weird stuff and you are going to get enough people for all this kind of stuff to make a go of it? Not really possible but a good way to raise money.

Will be interesting to follow the progress anyway.

[hossa8110]

Lot of fud. This will be huge.

[hossa8110]

Fairlay.com is very popular too besides nitrogen. Wagerr be worth alot look at all the icos. 5 cents is nothing.

[littlekona]

Wonder if guys from directbet are involved here as it's timing is overlapping them closing site

[JaimeMiro]

Initially though the WGR was an official cryptocurrency: it's not! Proceed with caution

[Hareeba!]

Wait for @BookieExchange

[Optional]

Wait for @BookieExchange

Geez.. sounds like even more hype and meaningless fluff words than Wagerr http://bookie.exchange/

Plus also tryng to attract investors talking about all the no risk fees everyone will collect.


Would like to see one focussed on the product and gambling rather than the investment and fees potential.

[Buffalo Nickle]

BookieExchange not even starting its own site. It is going to use PEERPlays which is not even a go. Something tells me this mad rush for money is not coincidental. Hopefully, they make it work but I doubt they ever even get to launch. How did all these people come up with the same idea at the same time?

[BrickJames]

I was just at their site poking around a little bit it's a cool idea. I don't know how many people are going to get into the whole thing though seems tough to Market to the masses

[Optional]

I was just at their site poking around a little bit it's a cool idea. I don't know how many people are going to get into the whole thing though seems tough to Market to the masses

If a platform comes along that works I think it will succeed. Not like Betfair as it wont be 'legal' like theirs but if it isn't weighted down with fees and is truly independent, even grading, then I think users will flock to it once they see how the overhead costs can be so minuscule.

[HeeeHAWWWW]

If a platform comes along that works I think it will succeed. Not like Betfair as it wont be 'legal' like theirs but if it isn't weighted down with fees and is truly independent, even grading, then I think users will flock to it once they see how the overhead costs can be so minuscule.

Agreed, the potential for a truly global market and minimal fees is a huge deal. Just surprised existing giants aren't already all over it.

[Optional]

Agreed, the potential for a truly global market and minimal fees is a huge deal. Just surprised existing giants aren't already all over it.

That's the rub. I think the development costs are kind of huge still right now, so it will probably take an existing player with big money to do it well. So they will obviously want a level of control and fee generation.

And if it's an investor funded solution the pressure to extract max fees will be even larger imho.

It would be so much better if it was just an open source community project but just not sure the interest for a betting platform is there among the tech heads, or they would have done it already as it's the most obvious use of blockchain tech I think.

[Bluehorseshoe]

Agreed, the potential for a truly global market and minimal fees is a huge deal. Just surprised existing giants aren't already all over it.

They'd be shooting themselves in the foot so to speak by doing it. You need an Elon Musk of gambling to do it.

[jjgold]

exchanges dead concept for usa market

always was and always will be

[trytrytry]

(this one and types like it eliminates the need for 5dimes, offshore books totally, how will we keep forums!

this or things like it will be the way many gamble in 5-10 years maybe faster

[BrickJames]

(this one and types like it eliminates the need for 5dimes, offshore books totally, how will we keep forums!

this or things like it will be the way many gamble in 5-10 years maybe faster

Guys over 40 are not getting into BTC

[Hareeba!]

exchanges dead concept for usa market

always was and always will be

yeah, and the Earth is flat too

[jjgold]

yeah, and the Earth is flat too

all these gimmicks fail

Matchbook could not make i in usa also..terrible liquidity

Only successful exchange is Betfair the last 10 years AND DOMINATED BY ASIA AN EUROPE

EVERYTHING ELSE FAILED

[Hareeba!]

all these gimmicks fail

Matchbook could not make i in usa also..terrible liquidity

Only successful exchange is Betfair the last 10 years AND DOMINATED BY ASIA AN EUROPE

EVERYTHING ELSE FAILED

Of course it's dominated by Asia and Europe!
The stupid US won't allow it!
One day they will and you'll be seen for the fool you are.

[littlekona]

Of course it's dominated by Asia and Europe!
The stupid US won't allow it!
One day they will and you'll be seen for the fool you are.

Betfair and probably others similar formatted horse exchanges will be legal soon in USA ...betfair is already in New Jersey leagal and doing well...TVG shows the parimutuel odds vs betfair odds on tv all the time and betfair exchange are like way better 90% of time.....look for fairlay to start offering USA horse racing soon fairlay exchange currently has best odds I have seen any where

[Hareeba!]

Betfair and probably others similar formatted horse exchanges will be legal soon in USA ...betfair is already in New Jersey leagal and doing well...TVG shows the parimutuel odds vs betfair odds on tv all the time and betfair exchange are like way better 90% of time.....look for fairlay to start offering USA horse racing soon fairlay exchange currently has best odds I have seen any where

Interesting.
Do they have in running betting on those exchanges?

[Optional]

Interesting.
Do they have in running betting on those exchanges?

Betfair New Jersey does.

[lotuspod]

That's the rub. I think the development costs are kind of huge still right now, so it will probably take an existing player with big money to do it well. So they will obviously want a level of control and fee generation.
And if it's an investor funded solution the pressure to extract max fees will be even larger imho.
It would be so much better if it was just an open source community project but just not sure the interest for a betting platform is there among the tech heads, or they would have done it already as it's the most obvious use of blockchain tech I think.

It will be open source once it gets a bit closer to release, and decentralized. Many of the investors are bettors themselves who are dissatisfied with the current system(s), including myself. If anything we would be looking to make them even lower or find other ways of giving users extra value. If someone still felt that fees were too high for whatever reason, they could help host it themselves and claim a share of those fees. But h2h bets will be at -102 roughly, so you can't really get much lower than that anyway lol.

Once it launches, the investors/bettors will be the ones in control. It's designed to have no central point of authority and everything will be transparent. A lot of the investors aren't just in it for a quick buck, they also know what it would mean for the gambling market if something like this were to succeed.

And yes it's my first post here, but I've been around other betting/poker groups for quite awhile now. If you have any questions about Wagerr...I'd be happy to answer them for you (here or in a PM) or if I can't, then at least maybe could put you in touch with someone who could.

[evo34]

Another one: https://github.com/EdgelessCasino/Wh...hite_Paper.pdf

[Buffalo Nickle]

It will be open source once it gets a bit closer to release, and decentralized. Many of the investors are bettors themselves who are dissatisfied with the current system(s), including myself. If anything we would be looking to make them even lower or find other ways of giving users extra value. If someone still felt that fees were too high for whatever reason, they could help host it themselves and claim a share of those fees. But h2h bets will be at -102 roughly, so you can't really get much lower than that anyway lol.

Once it launches, the investors/bettors will be the ones in control. It's designed to have no central point of authority and everything will be transparent. A lot of the investors aren't just in it for a quick buck, they also know what it would mean for the gambling market if something like this were to succeed.

And yes it's my first post here, but I've been around other betting/poker groups for quite awhile now. If you have any questions about Wagerr...I'd be happy to answer them for you (here or in a PM) or if I can't, then at least maybe could put you in touch with someone who could.

Speak of the devil. Wagerr is going to be a currency in and of itself correct? So as the volume of bets rises during the football season can't we expect a large increase in price for wagerr and a corresponding decline in value as the season ends and betting falls off? Aren't our returns going to be largely dependent on the price of wagerr more so than our actual betting?

[hossa8110]

I can imagine it won't be .05 cents at most will only be 200 million wager coins so even just gets tiny bit of market it could easily get to a few bucks a coin.

[Buffalo Nickle]

I can imagine it won't be .05 cents at most will only be 200 million wager coins so even just gets tiny bit of market it could easily get to a few bucks a coin.

Open an account with wagerr. Place no bets. Get rich.