What is Wagerr, and how does Cryptocurrency Impact Sports?

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Cryptocurrencies and sports are like chalk and cheese, on the outside the two seem to be completely different entities. However, the two can be linked together in one breath without it sounding forced.

Cryptocurrencies are safe, anonymous, and direct transactions of “Internet Coins”. The idea is to create a currency that’s independent of nations, decentralized, and untraceable. On a similar note, sport can be seen as a way of uniting people, irrespective of their national allegiances. Volunteers keep track of all the transactions by maintaining a blockchain, a sort of ledger that is constantly updating. In a way, it is somewhat similar to keeping track of scores in sporting events.

Over the years, as cryptocurrencies have gotten more and more accepted, their use has expanded outside of the realm of “weird internet gimmick”.  We now find them as accepted currency for everything from shopping sites to highly-respected mobile jackpot casinos. There are even cryptocurrencies which have made themselves market specific.  For instance, if you’re a sports fan, and you want to make good bets on sports, Wagerr is one of the best options out there.

What is Wagerr?

If you have heard of cryptocurrencies before, you’ve probably heard of bitcoin. It’s the most famous, and the first, cryptocurrency on the market. Not to mention, the most valuable.

Wagerr is another cryptocurrency, however, unlike bitcoin, wagerr is designed for a more niche audience. Sports fans. However, you might be thinking to yourself, “If bitcoin is the most valuable, why should I bother with anything else?”

First and foremost, Wagerr has a few niche features that caters to the needs of the average sports fan, and put it at an advantage over bitcoin, even if the overall value is lower.

Why Wagerr?

Wagerr is built on a blockchain that is maintained by private individuals. All bets made through Wagerr are not only done at a lower rate of fees but are also direct. In other words, it cuts out the middlemen or vague, ever-changing bureaucratic regulations. It doesn’t matter where you are in the world, because the rules are always the same, no matter if you’re betting on a game in the US, China, or Timbuktu.

Speaking of, what CAN you bet on using Wagerr? Well, just about anything a regular sportsbook would cover. Tennis, Baseball, Basketball, Football, Soccer, Hockey – you name it.

Oh, and here’s the most unique feature about Wagerr. The Wagerr team calls it “Value Coupling”.

Sports

The idea is that the value of an individual Wagerr coin is linked to its usage; the more bets, the more valuable it becomes. Wagerr automatically deletes half the coins that are taken as part of the fees. That makes the rest of the coins more scarce, and each individual coin is, therefore, more valuable.

The advantage of this “value coupling”, means that the more people place bets, the more valuable the rest of their coins become. Even if you lose out on the bet, the coins you have left might even cover your loses. As time goes on, more coins are generated by the blockchain, and the price per coin drops again.

New features for 2019!

The Wagerr team have also revealed bits of their plans for 2019, showing new features they want to add to the system.

Features like Dynamic Odds, “For Direct Chain betting, Wagerr incentivizes betting on the other side when the book becomes unbalanced. This self-regulating protocol minimizes network payout liability and attracts traditional sports books to arbitrate their own imbalances by offloading liability to the Wagerr network.”

Dynamic odds is a feature that was scheduled for Quarter 1 of 2019, while for Quarter 2 we get Fantasy Sports for betting on virtual teams based on real odds and in late Quarter 2 Live Betting for gambling on micro events during the game, such as whether a player will score or the number of penalties at the end of the game.

To sum up, here’s a quote from Matt Gaetz, “The black market poses a greater risk to the integrity of sports than open, visible, and regulated betting.”

Wagerr is not the black market. It is not unregulated, but instead decentralized. So, really, if you don’t start using Wagerr, you’re risking the integrity of sports.