Wagerr offers bettors very unique features that cannot be replicated using legacy technology. The main benefits being control of users funds at all times, global access and no limits or restrictions on betting. Learn more about the benefits of Wagerr here.
No. Wagerr is purpose built for sports betting. The unique features that we offer players (no limit betting, value coupling, no third party risks etc.) are only possible because we have built our own blockchain with its own incentive mechanisms.
If we were to solely use BTC, ETH or various stable coins, then this would be no different to many of the sportsbooks that you likely see today. Wagerr is a new business model that requires WGR for the model to work. Therefore, if you wish to use the Wagerr betting platform directly you will need to obtain WGR first.
The best place to purchase WGR is dependant on you, how familiar you are with cryptocurrency and what jurisdiction you are in. You can read more about the various options here.
Unlike normal sportsbooks, Wagerr is open source and all data regarding betting is publicly available. This is unprecedented, and we think it's very exciting! When you make a bet with Wagerr, it is recorded on the Wagerr blockchain (think database). This database can be viewed here.
WGR on those exchanges is 'wrapped WGR', you will need to swap them on the website swap.wagerr.com in order to receive real WGR that you can bet with or run a masternode.
Swaps can take up to 24 hours, please raise an issue in the community channel if you have not received after that time.
Wagerr has engineered a business model centred around the WGR coin.
Demand for the Wagerr betting platform drives demand for WGR. The Betting platform destroys WGR via a small house edge, making it more scarce and thus more valuable to existing holders. Adoption of WGR is further incentivised via masternodes who earn a small proportion of the betting volume that occurs on the Wagerr blockchain. You can read more about the tokenomics here.
A masternode is a computer that helps operate the Wagerr betting network. Masternodes for their services are rewarded by the network by earning WGR. The requirements for running a Wagerr masternode are:
- 25,000 WGR to be staked (locked up)
- 24/7 Uptime. Third parties can provide hosting services to make this part easy.
Masternodes earn block rewards as well as a small clip of the betting volume.
- The block rewards are approximately 10 WGR per week based on the current amount of Masternodes.
- The clip of betting volume is 2.4% of the net winning margin of all bets. This is shared amongst all nodes. The more betting volume the more rewards. Read more about Masternodes here.
The supply of WGR is dynamic. It varies depending on whether bettors are winning or losing. When a bet is placed on Wagerr, the WGR is immediately 'burned' (reducing the supply). If the bet is successful the Wagerr blockchain mints more WGR to pay out the bet (increasing the supply).
A margin (house edge) included in the odds means that the odds are favoured towards a decreasing supply.