[bookie]

Easy Tiger...Thanks for responding to my questions.

[raiders72001]

I know, I probably sound like a shill at times...lol

Several years ago, I remembered hearing about the possibility of blockchain sports betting, which piqued my interest in the intersection of the two technologies. It may have been the Wagerr platform where I first heard about it, but I can't remember. I ran across this thread over the summer and thought I would take another look. As I've noted, I was highly skeptical, but I thought I might as well give it a try. I downloaded the iOS Wagerr wallet and then figured out how to purchase some of the coins via an exchange. I thought it was cool that the winnings were returned directly to the iOS wallet that I had complete control over. This meant not having to worry about payouts, KYC, etc. Liking this, I decided to use the platform more often and found some pretty favorable lines which were not fluctuating as quick as some of the other books.

The more time spent using the book, the more interested I became in the platform itself. I started reading through the documentation and spending time on their Telegram channel. The staff and members of the channel were very inviting and took the time to help me understand the platform better. Once I gained a better grasp, I looked into staking some of the WGR coin that I had to receive rewards (daily and weekly) payouts for investing in the platform. I also found it remarkable that I could both be an investor in the platform as well as a user.

I'm currently using the Ionomy exchange to purchase the WGR token and drip investing into share nodes to obtain the staking rewards. I played around with several other exchanges but found Ionomy the easiest to use. Essentially, I purchase BTC from one of the primary exchanges and send the funds to my Ionomy account. From there, I exchange my BTC for WGR and send the funds to my WGR wallet. It's honestly pretty simple once you get the hang of it.

I've enjoyed learning about the platform and interacting with the community and staff on Telegram. While I did have initial concerns about the project's long-term viability, I've found the staff to be accommodating and vested in the platform's development, which alleviated much of this. I'm now at the point where I would love to see the platform succeed, as I believe there is an outstanding team behind it with the right intentions.

You're not a shill, you just like the project. I don't hate these guys even though my latest posts in this thread seem that way. One concern I have with a small market coin like this is if the project fails, the coin price hits zero. As I posted in another thread, too much is made of Wagerr being decentralized. If they stiff players, there could be personal consequences.

[EasyTiger]

Yes, there is a definite risk from the investment side of the project if it fails. However, the risk on the betting side can be mitigated since you have complete control over the wallet that holds your WGR tokens. Depending on your risk tolerance, you can store as many WGR coins as you want or exchange them for a stable coin such as BUSD weekly or even daily. For example, you can send WGR to your Ionomy wallet and then exchange WGR for BUSD. There will be some slippage from exchanging, but it's relatively negligible. They are also in the process of adding cross-chain functionality, meaning that you won't have to use the WGR coins necessarily but instead crypto of your choice. The primary thing is that you have complete control of your funds at all times instead of sending a sum of money for a book to hold. It's essentially the same as showing up at a retail sportsbook and fronting cash on the spot for a particular bet and then collecting your winnings on site.

[raiders72001]

Yes, there is a definite risk from the investment side of the project if it fails. However, the risk on the betting side can be mitigated since you have complete control over the wallet that holds your WGR tokens. Depending on your risk tolerance, you can store as many WGR coins as you want or exchange them for a stable coin such as BUSD weekly or even daily. For example, you can send WGR to your Ionomy wallet and then exchange WGR for BUSD. There will be some slippage from exchanging, but it's relatively negligible. They are also in the process of adding cross-chain functionality, meaning that you won't have to use the WGR coins necessarily but instead crypto of your choice. The primary thing is that you have complete control of your funds at all times instead of sending a sum of money for a book to hold. It's essentially the same as showing up at a retail sportsbook and fronting cash on the spot for a particular bet and then collecting your winnings on site.

Agree that having custody of your funds is big although open wagers are still at risk.

[bookie]

They are also in the process of adding cross-chain functionality, meaning that you won't have to use the WGR coins necessarily but instead crypto of your choice.

This is the part that I don't understand.

Because if the blockchain loses WGR tokens in a given period it just prints more to pay the winner. So I see how that works if you can only use WGR tokens. I don't see where the funds are going to come from if I win a large crypto-of-my-choice wager, and the blockchain happens to be net negative at the time.

[raiders72001]

This is the part that I don't understand.

Because if the blockchain loses WGR tokens in a given period it just prints more to pay the winner. So I see how that works if you can only use WGR tokens. I don't see where the funds are going to come from if I win a large crypto-of-my-choice wager, and the blockchain happens to be net negative at the time.

Aren't they just using wrapped tokens on two different chains rather than something else such as BTC?

[EasyTiger]

Aren't they just using wrapped tokens on two different chains rather than something else such as BTC?

Yes, for the time being they are. However, they are currently working on implementing Binance Smart Chain (BSC) functionality to allow for easier on/off ramps with other cryptos. While I understand the basic functionality, I'm still in the process of learning how all of this works so I apologize for the lack of detail.

[bookie]

Aren't they just using wrapped tokens on two different chains rather than something else such as BTC?

That would make sense and I get that that's the standard way to achieve blockchain inter-operability. But as I try to think this through, while I know my collateral currency is there, when it's time to unwrap my WGRS, and get back my stable'er coins, where do those come from if I'm someone who deposited 1000 won 1000 and am trying to unwrap 2000?

When it happens in DeFi I can follow the incentives for the lenders and borrowers and make it make a kind of intuitive sense, usually. But when I think of it in the context of a sportsbook-esque blockchain, especially one that I don't trust to maintain the industry average hold if they're going to allow unlimited wager sizes and are having AI move lines, I don't see how wrapping works.

[sss_av_ltd]

Just to explain the cross chain-betting so people understand what it actually is.

Wagerr is building functionality for users on Binance Smart Chain who hold "Wrapped WGR" (BSCWGR) to bet with that wrapped token. Previously people had to use swap.wagerr.com to convert their wrapped WGR to WGR sitting on the Wagerr blockchain. (additional hops and poor user experience).

All bets that occur on binance smart chain are replicated on the Wagerr blockchain. All it really means is that user on BSC can stay on that chain and make bets from their wallet.

There is one added benefit that Easy is alluding too though. Using Decentralized exchanges the user experience can be built that the user doesn't really have to know that they are using the WGR currency.

Effectively a user could make a bet in say BUSD (Binance USD) when they make the bet, the BUSD auto-converts to BSCWGR using a decentralized exchange and places the bet in BSCWGR. If they win, the BSCWGR is auto-converted back to BUSD for the user.

so the user only really see's the USD amount, however they are taking on currency risk from the time they bet to the time they get the payout. As liquidity builds the idea being that the currency risk lowers and lowers.

[Alfie White]

Just wanted to check how we are doing? All good?

OMEGAROLL KEKW

[bookie]

Did they go byebye?

[EasyTiger]

They're still around. Made some upgrades to the system over the summer which has expanded the bet offerings. Unfortunately though, it has created some issues with the timeliness of grading the bets. Kind of a two steps forward, one step back scenario. I still utilize the platform and have been able to find attractive odds to make it worthwhile at times. The WGR currency itself took a hit over the past few months along with the rest of the cryptos. Seems to have stabilized over the past couple of months though.

The entire blockchain betting environment is quite interesting to me. I will say that Wagerr was one of the pioneers of this space but there seems to be quite a bit of competitive headwind as other players start to either enter or establish themselves in the market. Some of the notables include BetU, Dexsport and Betswapp. They all have their advantages and disadvantages. Wagerr's differention is based on utilizing the full extent of the blockchain which includes having it both regulate odds and grade bets. Essentially a self-sustaining model if they can get it to work. I'm admittedly skeptical based on the recent progress or lack thereof, but they do continue to work on it. Regardless, I find it's worth it for the odds they offer and they are very supportive of any issues that arise. I do hope they are able to get it to work.

[jjgold]

bubble gum operation

[bookie]

Some of the notables include BetU, Dexsport and Betswapp.

Are these all you-buy-our-currency-and-then-you-can-bet-with-it operations?

[littlekona]

Defi is full of ignorant investors. So many Sh/t money grabs come with casino or wagering as utility. but man some run like mad $WCI. There are some decent ones

[bookie]

Defi is full of ignorant investors. So many Sh/t money grabs come with casino or wagering as utility. but man some run like mad $WCI. There are some decent ones

littlekona...You're one of the posters I respect the most. What decent ones are on your radar? I won't deposit, but I do think crypto and betting is a great match and I like to follow the different ways people are trying to put them together.

[Limited]

Few points why I am sceptical.

1) DEFI is never defi, the only decentralised coin is BTC (do your research before you jump on this)
2) Betting platform that forces users to use the own coin may or may not have good intentions. It means that your are paying a real money for a shitcoin created by them, which in most cases behave like a ponzi or exit scam coin. With very few exemption. Remember DEFI Luna, HEX, STEEMIT, EOS.... all garbabge. And now Tornado censored ETH stable coins.... again only BTC is really defi and really censorship resistant, everything else is just marketing.
3) Cross chain interoperability is a positive thing, if it will ever be implemented. It removes a risk of investing into their own coin.
4.) When you constantly win in a long run, doing arbing or value betting or whatever you do, someone is losing money on the other side. So it can't run long term, unless they have enough of dumb players/constant loosers. But look bet3,65 with millions of user all over the World and still they do limit you to pennies and kick you out if you are a winner.

[EasyTiger]

Are these all you-buy-our-currency-and-then-you-can-bet-with-it operations?

I believe all three of these offer some form of cross chain betting.

[bookie]

I believe all three of these offer some form of cross chain betting.

What is that?

[Alfie White]

littlekona...You're one of the posters I respect the most.

So you respect shilling? TOPKEK

[littlekona]

littlekona...You're one of the posters I respect the most. What decent ones are on your radar? I won't deposit, but I do think crypto and betting is a great match and I like to follow the different ways people are trying to put them together.

DM me your TG account. I basically live in telegram thats the best defi networking

[EasyTiger]

What is that?

This means their platform will allow you to place wagers in more than one type of crypto currency. For example, with BetU you can use their native crypto token or bet with Tether or Ethereum.

[BOWLSZN]

Anyone one know of a Crypto book that takes WAXP Deposits sportbet.one is the only one i could find but they only have EOS & ETH