Wagerr Main Net Update!

costanza (69) in cryptocurrency • 7 years ago

I made an article about a week ago with a promise to make a follow up report on Wagerr and how they were about to launch their main net . They kept their promise and the main net has gone live on February 16th.

Their wallet can now be downloaded from their website and the waves platform WGR tokens can be swapped for main net WGR Tokens. These kind of swaps can be a bit stressful, but everything worked properly for myself and I was able to swap them to the desktop wallet. The 'how to swap tutorial' was not 100% correct as I had them in my Wagerr Lite Wallet but I had to use the way it was explained for the normal Waves lite wallet.

Wagerr Launch Chart.jpg

The price spiked up around +47%, but has since dropped a bit back because of the overall bear market right now. When Writing last post the Wagerr Price was at 0,387636$ which means it has increased with 16% (0.450739$ now). Compared to bitcoin instead of USD it has gone up around +33%. For now this will put a bit confidence back into the wagerr team which is something they really needed.

Actually betting on their blockchain is not yet possible, in their roadmap it says Late Q1 for them to offer Head-to-Head betting with 1.98-1.98 odds. Next up now is probably the announcement what new exchange they are going to be listed on, which should increase the amount of potential buyer by a lot as they now only trade on the waves decentralised exchange, yobit and Tidex with lower volumes.

I plan to just keep holding on to my WGR for now and probably recover my initial investment if the price spikes once it's on a bigger exchange. (should have done that when the price was at 1$)

I will be keeping my eyes on this project and write about it when anything interesting happens.

cryptocurrency blockchain wagerr crypto busy

7 years ago by costanza (69)

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braveboat (61) · 7 years ago

@Costanza, do you any thoughts about the concept of heads-up betting?

We're used to betting against the house, but against other bettors? My first impression is that we ought to be somewhat excited about that as so many people are simply poor wagerers. But being relatively out of the norm, there must be factors I'm not considering...

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acelad (52) · 7 years ago

Hey @braveboat, here in the UK betting exchanges that exist today (Betfair, Betdaq etc.) are essentially the crowd betting against each other, and I can tell you from experience that:

The crowd manages to increase the efficiency of liquid markets over time, as the ratio of shrewd punters increases. Bookmakers then start to follow the exchanges as a price guide!
As there's no "house" there's also no house edge. Instead you pay commission on wins (5% with Betfair). Despite the commission this often works out better placing the bets with an exchange than at traditional bookmakers.

However, if I'm understanding correctly, Wagerr will be offering two outcomes that are priced at evens (minus 2% fee), and if the odds don't move like they would on an exchange, this could lead to big opportunities for experienced bettors! I'll watch with interest :)

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costanza (69) · 7 years ago

It will indeed work similar to Betfair but amounts need to be matched completely, so if someone offers 100$ on 1 side it needs to be taken by 1 person on the other side for 100$. There will be 2% comission (instead of ~5% at betfair), but I'm not sure if odds are fixed or if they can be chosen and offered on wagerr similar to betfair.

Betfair is great for traders as you only pay fees on the winnings from a specific match. So if you bet 1000$ on 1 side and 1000$ on the opposing side with a middle position where you win 20$ no matter who wins you pay ~5% of that 20$. At wagerr you will pay 2% of the winning bet itself if you take middle positions which is a lot more. Their H2H margins should still beat average bookmaker odds by a lot so I'm quite confident that there is money to be made. There will for sure be tactics that can be used to exploit their system with small margins as I can't see many of the players there closely watching the market and the moves. I'm really looking forward to test it all out.

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buggedout (68) · 7 years ago

Thanks @costanza I haven't been tracking all the betting projects, just waiting to see which one gets to market first. Looks like it's not far away now.

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costanza (69) · 7 years ago

Indeed, the first to market is the only thing to be somewhat excited about right now. None of the projects so far really has me fully sold yet. The new 'Betfair' with 1.99-1.99 or even 1.995-1.995 odds is what I'm really waiting for.

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beat-the-bookies (63) · 7 years ago

Thanks for the update @costanza

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