Wagerr (WGR) a revolutionary betting blockchain
Wagerr is a decentralized sportsbook that changes the way the world bets on sports.
What is Wagerr?
Features and functions of Wagerr
Wagerr is a two tiered network comprised of standard wallets and Oracle Masternodes
Standard Proof of Stake wallets
● The first layer is the standard transactional layer in which basic wallets earn rewards for block formation. ● Provide network security and confirm blocks of transactions that constitute the blockchain, the ledger of immutable transactions.
● Maintain a full copy of the blockchain.
Oracle Masternode intranet
● Oracle Masternodes, a second layer of the Wagerr network, function as consensus agents, forging betting contracts, retrieving sporting events outcomes data, and consensually validating results that trigger contractual payouts.
● Oracle Masternodes also mediate decentralized governance of the Wagerr network, as discussed in greater detail in section 7.10
2. Betting functions
The Wagerr system facilitates three modalities of sports betting
1. Peer to peer betting
Peer to peer betting (or “head to head” betting) requires two partners to take opposite sides of a betting contract. The players agree on the betting line and the total amount at stake. One player initiates the bet by posting it to the blockchain from their wallet. When the partner sends coins for the complementary side of the bet, the blockchain tags them as transactions with dispositions contingent upon the outcome of the specified event. Once the event is completed, the Oracle Masternode network records the performance result on the blockchain, triggering a payout to the winner. If the event never happens, the coins, minus fees, are returned to the original transactors. This feature is great for casual players, friends who live apart, colleagues, etc. They can make a plan, forge a contract on the blockchain, and leave the rest to the Wagerr network.
2. Multi user betting
Multi User betting is like peer to peer betting, but in this case multiple users can take the complementary position against a larger bet until the total value of the bet is met. Since this mode of betting requires less specificity about the size of the bet, the blockchain can perform the work of matching multiple bets until an equally weighted or minimum contract is achieved.
3. Peerless direct chain betting
Peerless betting does not require a complementary transaction to forge a contract. Any bettor can initiate a contract on chain, which the Wagerr network is programmed to pay out if the bettor wins. Peerless betting maximizes flexibility for bettors. How does Wagerr balance the risks of peerless betting? The blockchain pays out winning bets that are confirmed by the Oracle Masternode network, by minting coins for the payout. This means that the blockchain does accrue some risk of coin supply expansion though forging such contracts, but the risk is balanced by several factors. Losing bets systematically destroy coins, creating a balance over time. That’s because 48% of all betting fees are destroyed, tipping that balance in favor of net coin destruction from direct chain betting. In fact, because losing bets destroy more coins than winning bets generate coins on the network, an intrinsic advantage is created for all WGR holders in terms of coin supply. Specifically, on a losing bet of 100 WGR, 96.88 WGR would be destroyed; by contrast, on a winning bet of 100 WGR, only 94 WGR would be generated. This imbalance constitutes the house edge of approximately 3%. The final technological balance is a development called, “dynamic odds balancing.” When peerless betting creates an imbalance in risk, where the payout liability is higher for winning than for losing, the network dynamically adjusts odds to encourage complementary betting that will balance the network liability. Peerless betting is by far the simplest solution for sports bettors because it requires no planning, and eliminates the risk of finding complementary partners. Peerless betting also attracts traditional sports betting operations that routinely manage their own payout liability by placing bets with peer organizations. Now, instead of relying on their peers to take the other side, major sports betting outfits can enjoy low fee betting on the trustless Wagerr system instead of entrusting assets to competitors. That’s important because regulated competitors are subject to regulatory insecurity and unregulated competitors have no legal obligation to honor agreements. Wagerr, a decentralized technological system, does not require sports bettors or sports betting organizations to trust any one party whose trustworthiness cannot be verified. Users instead entrust verifiable open source code that they can inspect for themselves.
Economics: Structural dynamics of Wagerr’s economic system
Sports betting market context:
The estimated scale of the traditional sports betting market (including bothlegal and illegal bets, internationally) is in the trillions of USD. An estimated $400 billion dollars illegal bets are placed annually in the United States alone. China’s illegal betting market is even more extensive. Traditional sports betting in many locales is driven underground, leading to corruption, unfairness, and violence. Wagerr offers this untapped market the opportunity to choose a safe, private, and accessible way to bet through decentralized blockchain technology. Because Wagerr is (better) decentralized, private, and lower-fee with a compelling value proposition, Wagerr has the potential to win substantial market share in the long run. However, even if Wagerr only captures a fraction of the trillion dollar market, the world will be a little safer and the mechanisms built into the Wagerr model will have a powerful and overwhelmingly positive effect on the Wagerr economy, and long term token value. “Value coupling,” in particular, creates an extraordinary value proposition for sports bettors, the sports betting industry, and for investors at every scale.
6.1 Value coupling: Price tied to usage
● Value coupling: price tied to usage
○ Basic: supply and demand; burning vs minting
○ Advanced: Price dynamically affects burn rate
■ High priced WGR = declining burn rate (market stabilization)
● Stable price helps bettors predict potential winnings
● Higher prices are always a win
■ Low priced WGR = accelerating burn rate (mitigates inflation)
● Self-balancing system
● Price declines are temporary
“Value coupling” defined:
The value of the Wagerr token (WGR) is systematically tied to the use of the sports betting blockchain.
The Wagerr network reduces the risk to value and protects holders of WGR tokens by linking betting volume to coin supply. This “value coupling” between usage and supply is a built-in deflationary mechanism that destroys 48% of the fee from every bet. With fees of 2%-6%, the net result is nearly 1-3% of every bet permanently removed from the network. For example, if price falls dramatically, significantly more outstanding supply is destroyed with every bet, because bets now require more WGR. Conversely, if price rises dramatically, significantly less supply is destroyed. Over time, this leads to less market volatility and an asset value that more accurately reflects both adoption and usage. Wagerr’s systematic destruction of fees thus creates supply scarcity over time. As the average volume of betting activity over the Wagerr network rises, the value of Wagerr rises with it, enabling all investors to participate in its strong growth potential simply by holding WGR tokens.
At any point in time the price of Wagerr combined with the volume of bets defines how much deflation takes place on the Wagerr blockchain. See for yourself how these three variables interact with the Interactive Value Calculator on wagerr.com. Wagerr is designed to be more than a blockchain, it is designed to be a responsive and price linked economy. For users to feel safe holding the token and to bet with it, they need to have confidence in the value backing the coin. In Wagerr’s case the method of ensuring that the value grows over time is by creating a deflationary economy.
Why not make Wagerr an asset backed coin?
Asset backed coins are powerful and have proven to be valuable in the crypto space. Wagerr, however, was designed to be fully decentralized. Since ownership and control by a central authority are required to back the value of an asset, the requirements are incompatible with the function of the Wagerr network.
2.Value proposition for sports bettors
● Lower fees
○ Wagerr incentivizes bettors to use the network and to acquire, use, and hold WGR
○ Use: lower fees inherently better
○ Better margins for players: higher probabilities through lower fees
○ Potential to win bigger value
○ Potential to win just by holding
Wagerr is custom built for sports bettors and the sports betting industry. For a low fee, players can place their bets in secure escrow. Winners get automatic payouts after the event outcome is confirmed on the blockchain through consensual validation.
The Wagerr network confirms real world gaming results accurately because of strict enforcement of the requirements for Oracle Masternodes participation. The penalties for Oracles that attempt to feed bad data to the network are prohibitive. Supermajority (75%) consensus among the Oracle Masternode network is required in order to post game results on the blockchain, making result security extraordinarily robust.
There's no risk of overleveraged betting in the Wagerr system because no one can bet more WGR than they have. Loan sharks and associated violence are excluded from the Wagerr network.
Higher probability play through lower fees
Since Wagerr’s fees are lower than traditional sportsbooks, the probabilities of success over
time improve because the bettor doesn’t need to win as often to make their sports betting
practice profitable long term.
Buy low, use high
Sports bettors who buy Wagerr when its price is low may choose to use it for betting when
the value is high to get even more value per token. By buying low and spending high,
bettors leverage Wagerr’s advantageous ecodynamics to amplify their betting power
because they can place larger bets with smaller amounts of initial capital.
Bet high, win higher
Since returns on betting is a matter of probabilities, buying low and spending high
increases the likelihood of profit, by first reducing the initial investment and, second,
increasing the value of the payout.
Win higher, bet higher still
Actually, if the price continues to rise, successful bettors can repeat the process: waiting
until the winnings increase in value again before placing a new bet would mean that the
initial capital at stake remains nominal while the reward potential continues to grow.
3. Value proposition for holders of WGR
You don’t have to be a bettor or an investor or even a trader for a high probability chance to win simply by obtaining and holding Wagerr. Wagerr is optimized for growth. The wallet will accrue newly minted WGR as the wallets contribute to network security. The probabilities of winning stake rewards increase with the amount of WGR held in the wallet
4.Value proposition for the sports betting industry
Arbitrage through peerless direct on chain betting
Traditional sportsbooks frequently find that they have taken on too much payout liability when their customers’ bets are unbalanced, strongly favoring one side. If the overweighted team wins, the sportsbook has to carry that cost against their bottom line. They typically manage their liability by placing bets, themselves, with competing sportsbooks. Wagerr offers lower fees, automated payouts, and strong security against manipulation. Even though Wagerr will function as a competitor to traditional sportsbooks, the blockchain also offers a potent solution at a competitive price.
For additional information on mechanisms that safeguard the network for arbitrage
functions, please see discussion of “dynamic odds balancing,” under, “ Peerless direct chain
Value to investors
● Market share + value coupling = [burn rate > mint rate] = deflationary economy
● Rewards for contributions that increase and maintain Wagerr network value
○ Oracle Masternodes
■ Forge smart contract with multiphase transactions
● Phase 1: Initiate conditional contract
● Phase 2: Validated conditions trigger payouts
■ Retrieve and validate data
■ Collect, distribute, escrow, and burn fees
■ Be the house
6. Value to the field of digital currency
Standing on the shoulders of giants
Wagerr integrates core technology developed by brilliant teams. The Wagerr team stands
on the shoulders of giants. That’s partly possible because open source technology
facilitates asynchronous collaborations that can advance technological capacities. Even
before the idea of Wagerr, the core technology that Wagerr has been using to build its
sports betting network already existed. The existence of the core technology should
reassure potential investors of the feasibility of fully achieving the Wagerr network vision.
So, what does Wagerr bring to the table that’s relevant to the field of digital currencies?
While the components, like “smart contracts,” are familiar to those who stay current with
blockchain technology, it is what Wagerr does with the components that contributes to the
7. Betting Engine & Technical Architecture
The innovation and technical leaps that Wagerr makes is contained in its simple but
powerful Smart Contracts and powerful 2nd layered consensus agents known as Oracle
The Wagerr network has two layers. The first layer is the standard Proof of Stake (POS)
blockchain that allows users to send coins from one standard address to another. The
second layer of the network is comprised of Oracle masternodes. This layer allows players
to place bets on events that the Oracle masternodes confirm and post as real world
There are three types of betting transactions on the Wagerr network.
● Head to Head Betting Process
The blockchain mediates bets between two players taking opposite sides on upcoming processing Oracle and 1% gets burned. Here is the flow of a head to head bet from start to finish.
Wagerr System Allows
1. Step 1 Oracles actively searching for new events inside supported leagues, always
trying to build consensus for upcoming events. Consensus for a new event requires
a supermajority; Of the 2000 possible Oracle Masternodes, 1500 need to report the
same event defined by the Event’s UTC Time, and their unique identifying codes.
2. Step 2 User are able to view the posted events and place bets against existing
posted bets or set a new line and matched amount (for a taker or bet partner to fill).
Once betting pairs are determined to be complementary, a smart contract can be
created and initiated on the Wagerr blockchain
3. Step 3 Now that a smart contract is initiated, the development and burn portion of
the fees within that bet contract are distributed and burned. (48% destroyed, 2% to
Wagerr development fund) The Oracle Masternodes create transactions dependent
on the two opposing bets predicted outcome.
4. Step 4 After the event concludes, the Oracle network relies again on supermajority
consensus to determine the outcome of the event. This posting allows the contract
to be signaled for resolution.
5. Step 5 Once the bet has been signalled for resolution the winning bets are
processed and paid out accordingly. All non-resolved events in the issue of a tie or
event never occurring the contract is resolved via the Oracle masternode network
and both sides receive their bet back minus the fee. Once the smart contract is
resolved the oracle who processes the bet receives their portion of the fee.
Multi User betting
To make it easier to find and fulfill more bets on low volume events, the system allows
multiple players to be paired against a single bettor. This ensures that large bets do not
require an exact match to forge a contract. The fee for this transaction is 4 percent. 2% of
the fee goes to the Oracle processing the transaction and 2% gets burned. Here is the Flow
of a multiple user bet from start to finish.
Peerless Direct Chain betting
In the final phase of major development of the token, Wagerr gives the player the option to
forgo looking for a match and bet directly against the chain, using the chain itself to take
their bet automatically. The fee for this transaction is 6 percent. 3% of the fee goes to the
Oracle that processes the request and 3% is automatically burned. Here is the Flow of a
multiple user bet from start to finish.
When Wagerr fully launches the teams and leagues that are supported are critical. The
more leagues that are supported the larger the potential user base becomes. The larger
Sport Leagues supported at launch.
○ NBA, NCAA Men's, EuroLeague,
○ MLB, NCAA Baseball, World Series of Baseball
○ NHL, KHL, AHL
● AM Football
○ NFL, NCAAF
○ FIFA, UEFA, COFEDCUP, EPL, MLS, ELO, ELT, FACUP
○ NRL, RFL, EPSHIP, TRC, RWC
○ ICC, CWC, INTC
○ PGA, ETOUR, RYDRCUP
○ ATP, DAVISC, ITF, GST
○ UFC, BEL
○ Winter, Summer
Sport Leagues supported for Peerless Direct Chain betting
● Horse Racing
● Motor Sports
○ NASCAR, FORMULA-1, INDYCAR
The digital currency space is quickly becoming saturated with projects that create new
tokens and ecosystems. Wagerr stands out more than most of these projects due to the
fact that the network is dedicated to a large single use function: Sports betting. The market
for this single purpose is overwhelming and the demands that it puts on the network and
chain are significant.
Scalability and security are therefore paramount. The only way to achieve this kind of scale
is to be a single purpose blockchain — very good at one thing. For Wagerr to ensure that it
can process and payout thousands of bets on thousands of events a day, Wagerr has to be
efficient and powerful, and not overloaded with functions and features.
In this comparison chart you can see two projects that also use Ethereum technology —
Gnosis, and Augur. Both of these projects differ dramatically from Wagerr in that they rely
exclusively on complex peer to peer (P2P) prediction markets, whereas Wagerr offers
simple and efficient P2P contracts while taking it to the next level with peerless Direct Chain
The Wagerr team has been hard at work since September of 2016. Large portions of the
betting engine are complete as well as the ASSC contract system. The Oracle Masternode
posting mechanisms for how they collect and post data is also near completion.
The development of Wagerr is critical to the project's future success. Even though Wagerr is
an open source project and anyone can assist or help build it in the future, the launch team
is committed to the long term vision of the project and will deliver on launch commitments.
● Late Q3 2017 -Testnet released. The Wagerr testnet deploys, allowing players to
preview Head to Head bet matching and general wallet functions. Oracle
Masternode owners can become familiar with their operation and test different
configurations for best results.
● Q4 2017 - Head to Head Betting is deployed and the chain goes live. The blockchain
mediates bets between two players taking opposite sides on upcoming sporting
events. The fee for an executed contract is 2% of the payout. 1% goes to the
processing Oracle and 1% gets burned.
● Q4 2017 - Event Chat Add-on. Every event will have its own chat room that will allow
those who are betting on the event to communicate with one another. Users can get
to know who they are betting against and talk about the event live while it happens.
● Q1 2018 - Multi User Betting. To make it easier to find and fulfill more bets on low
volume events, the system allows multiple players to be paired against a single
bettor. This ensures that large bets do not require an exact match to forge a
contract. The fee for this transaction is 4 percent. 2% of the fee goes to the Oracle
processing the transaction and 2% gets burned.
● Late Q1 2018 - Challenge/ Rematch Add-on. The Challenge and Rematch system
allows the player to message previous betting partners and issue challenges or ask
for rematches. This expands on the concept of an address book by allowing users to
see, track, and rematch past players and easily invite friends to use Wagerr to bet
against one another.
● Q2 2018 - Peerless Direct Chain Betting. Wagerr gives the player the option to forgo
looking for a match and bet directly against the chain, which takes the other side of the bet automatically. The fee for this transaction is 6 percent. 3% of the fee goes to the Oracle that processes the request and 3% is automatically burned.
● Q2 2018 - Dynamic Odds Balancing. For Direct on Chain betting, Wagerr incentivizes betting on the other side when one side gets overweighted. This feature allows the Wagerr chain to ensure that it exposes the network to the smallest amount of payout liability.
ICO Bonus Structure
Wagerr’s ICO bonuses are structured very differently than the average offerings. Wagerr
designed the bonus structure to incentivize participants that buy in to continue promoting
the offering even after they buy. Wagerr achieves this through having the bonuses be
dependent on the later rounds success.
With up to 20 rounds of sales, a progressive bonus system rewards early adopters while
encouraging word of mouth marketing and the complete sale of each round. Participants in
each round win a 1% bonus at the completion of subsequent rounds. For example, Round
1 participants win a total 4% bonus at the completion of Round 5.. Participants in Rounds
6-10 also have a chance to win Golden Tickets. 150,000 coins are allocated for this special
The ICO fully sells out, round one participants would receive a 9% bonus and round two
participants would receive a 8% bonus and so on.
The ICO only sells out 5 rounds and ends, participants in round one would receive a
bonus of 4%, participants in round two would receive a 3% bonus and so on.
Funding milestones secure the development of major features on the Wagerr road map.
With the completion of Round 1, Wagerr pledges to issue tokens, and build a Head to Head
bet matching system. Completion of Round 3 funds Multi User Betting; completion of
Round 5 secures Direct On Chain Betting.
If Round 1 is not fully funded by the end of the ICO, the ICO will extend or restart. If Round
10 successfully completes on or before June 14th 2017, the ICO will expand to maximize
distribution and capitalization for development. The ICO will extend by no more than 10
Rounds. The hard cap for maximum token issuance is 200 million tokens.
The amount of coins that are created for the Wagerr chain are all dependent on how many
coins sell during the ICO. Because we do not know the total that will be sold, the ICO
operates based off of percentages to ensure fairness for all. The ICO percentages are as
● 85% of Available coins are for sale open to the public
● 4% of Available coins are reserved for bonuses
● 8% of Available coins are escrowed for the Developers
● 3% of Available coins are allocated for marketing
ICO Fund Allocation & Future Development
● Development - Fund continued development of Wagerr, which is vital to the ability
to continue adding new leagues, maintain API advancement, integrate more
accurate results and deeper source pools, and implement new betting types. This is
the largest reserve of ICO funds, ensuring that talent can be attracted.
● Marketing - Continue advertising to encourage adoption and usage of Wagerr,
develop positive public relations, pursue partnerships with entities that advance
toward these goals, and promote the advantages of decentralized sports betting.
● Legal - Assist with navigating regulations where needed. The main focus will be on
advocacy and lobbying to promote open access worldwide.
● Consulting - Hire industry experts from a wide spectrum of sectors including:
Gaming, Business Strategy, Blockchain technology, and Marketing and
Communications to advise Wagerr development, messaging, and overall goals.
● Accounting - Ensure responsible management, allow for resources to improve
transparency and accountability, improve overall sustainability, and work with Legal
and Consulting to advance the project.
The funds that Wagerr raises during the crowdsale for the WGR token will be used
according to the chart shown below. Wagerr will be open and transparent about all fund
movements and sales to fund any portion of the plan.
This diagram shows the allocation of funds that are raised via selling WGR in the ICO.
Wagerr (WGR) Twitter Campaign.
Help us spread the word about the Wagerr ICO. If you have a Twitter following of people who would participate in a great ICO, we need you to retweet our content.
The structure of our campaign reflects our goal. We value your time and your effort and we intend to reward you accordingly.
We will not reward campaign participants who merely retweet to themselves or made up audiences. Participants who don't contribute to the goal will be dismissed from the program without pay.
In order to participate you must have at least 15 followers and be among the first 250 to sign up for the campaign.
Steps to join.
- Have a twitter account with more than 15 followers
- Follow @[email protected] and receive 5 WGR (limit 2 per day, at least an hour apart)
- Sign up for an account on wagerr.comwagerr.com email (the one you signed up with)l to @wagerrx on twitter.
- Get rewarded at the end of the ICO for every retweet (max 1 per day)
Campaign will continue at least until the ICO begins, June 1st. Check back then! We may renew it another week.
Twitter accounts must have legitimate traffic. Campaign monitors are authorized to remove non-contributing accounts without pay if they identify tweet farming.
Wagerr ICO raises $10,000,000 Last chance to enter Wagerr ICO
Hello Wagerr.com ICO participants,
If you bought the ICO early, congratulations!
If you loved the pitch, but wanted to see more evidence of the team’s
work, now’s your chance. The html5 demo lets bettors and ICO
participants experience the Wagerr system firsthand. And, the response
has been incredible. Excitement surrounding Wagerr’s revolutionary
sports betting blockchain and the wallet prototype has resulted in
raising over $10 million! Don't wait until it’s too late — download now
for Mac and Windows and see for yourself.
The more Wagerr raises in the ICO, the more features the team can commit
to building into the Wagerr network. That means more value for token
holders and more fun for everyone. Here’s what we’ve got so far:
- Head to Head betting
- Multi-user betting
- Peerless betting
- Fantasy betting
- eSports betting
- Live betting
- Multi-coin and fiat <--> WGR
We recently completed Round 19. With the completion of Round 18, Wagerr
now pledges to deliver a WGR exchange service directly in the wallet.
Connect your favorite exchange API, and the wallet handles any
Golden tickets — 15,000 Wagerr each!
For the Final Round, Wagerr will draw 10 (ten) Golden Tickets per Round,
each worth 15,000 WGR. That puts an Oracle Masternode a lot closer for
most winners. All you need to do is make a purchase — earn 1 ticket for
every 1000 WGR. Tickets are automatically posted in your account. Are
you feeling lucky?
Are you in?
Final Round! The last ICO coins are going fast. The ICO ends June 25th
— or when the Final Round completes — whichever comes first. At this
pace of selling, smart money’s on completing the ICO early. So don’t
miss out on your chance to “Be the House!“
Wagerr ICO closes in less than 36hrs.
Wagerr Crowdsale closes on 25. Jun 2017.
Wagerr Issuance Update - Withdrawal on Waves
✅ Wagerr Withdrawal on Waves update ✅
Genuine Wagerr tokens have a check mark indicating verification
The Wagerr Team has created and verified the Wagerr asset token with Waves!
The Waves network proved to be an extraordinary match with the needs of the Wagerr community compared to other asset token issuance blockchains because it features a built in exchange, fiat gateway, fast and reliable transfers, and lightweight, user friendly wallets on all devices. We are excited to issue intermediary Wagerr tokens on this groundbreaking platform.
Only Trade Verified Tokens You will know that the Wagerr token is authentic when your Waves client shows a green check mark ✅ next to the token name “Wagerr” with the official token ID 8t8DMJFQu5GEhvAetiA8aHa3yPjxLj54sBnZsjnJ5dsw.
The “verified” status will reflect in all Waves wallets, pending a Waves system update which propagates the verification across the Waves network. Only after this verified status displays in all wallets will Wagerr tokens be available to withdraw to personal Waves wallets.
Verification is a precautionary step the Wagerr team is taking for the security of ICO participants, potential new investors, and the community.
Round bonuses and bounties Round bonuses will be credited to accounts within the next 24 hours. Bounty coins will be handled shortly after.
We’ll be sending out an email with detailed instructions for accessing your Wagerr tokens over Waves as soon as they are available for withdrawal.
Stay tuned! The Wagerr Team
Wagerr (WGR) Developmental and Roadmap Updates
It has been a whirlwind since the completion of the Wagerr crowdsale, the team has had their heads down churning away on development, this has led to a bit of a communications vacuum. Moving forward we expect regular communication and Monthly news updates to show progress and major news.
Wagerr has successfully hired 2 new capable developers, and is currently seeking a third. The qualified Developers are talented in C++ and has previous blockchain experience, this should ensure we keep on target with our projected timeline, as well as planned feature implementation.
On our internal private testnet we have tested a head to head blockchain bet, successfully embedding betting information into the transactions. Additionally, the Wagerr roadmap will be updated over the weekend with new features to be implemented for reaching our crowdsale stretch goals.
We have been focused on finalizing the atomic pairing of Head to Head bets. This is critical for us to ensure that the chain does not process bets/transactions that do not have pairs. After we finalize that code we will be moving on to decentralizing the oracle network. The process for that includes us unifying the posting language and allowing the checkpoint blocks to determine consensus.
Mayweather vs Mac
The response on Mayweather vs McGregor has been tremendous. Nearly ¾ of a million wager have been put on the line, which means one thing….
Wagerr. Will. Be. Burned.
As it will be on the live chain, Wagerr will be burning the fees. Should the bet result in Wagerr.com carrying a loss, the team will cover it out of the funds allocated to compensate the original developers of Wagerr.
We are working on a partnership with a Bitcoin ATM company that would make wagerr integrated into every BTM they deploy, this would make it easier for normal users to get fiat in and out of the wagerr network.
Stay tuned for a future update
Wagerr Coin [WGR] New Exchange
Wagerr (WGR) Lite wallet available
New Wagerr branded Waves Lite wallet
Try out the new Wagerr wallet for Wagerr-over-Waves tokens. Wagerr is
the featured token, making it easy to track your balance and
transactions from the front page. Trading Wagerr on the decentralized
exchange is also featured. When you import your Waves Lite wallet, your
balances and complete transaction history carry over automatically since
it's the same blockchain.
Due to changes in Google’s policy, we are unable to publish new web apps
in the same manner as the Waves Lite App. Please follow these steps to
add the Wagerr Lite Wallet to Google Chrome:
- Download WagerrLiteWallet5.1.zip from the Wagerr Github.
- Unpack the contents into a familiar location (Note: Remember file location for future updates if you want to keep your account registered with the app).
- Open a new Chrome tab and enter the extension page by browsing to chrome://extensions
- Locate the extracted folder. Click and drag the folder into the Chrome extensions page. (If you hover, you’ll see the text, “Drop to install.”)
- The following should appear :
- Click on Details and then Create Shortcuts as needed
When updates are launched in future you will need to extract the
new files in the same location as the previous files as mentioned in
Step 2. Then click the “Reload” button in the extensions page. By doing
this you will retain all your login information.
Once you install the extension, import your Waves Lite wallet seed. You
will be prompted to supply a new wallet name and password. Be sure to
record your credentials securely because anyone who has your credentials
can own your wallet.
Note: Transaction and trade fees must still be paid in Waves denominations. Paying transaction fees in Wagerr is not yet available, because the Waves network intermittently rejects transactions with any token denominated fees other than Waves. In the meantime, you can obtain Waves dust for free from wavesplatformfaucet.com and wavesdrop.com.
Source code for the Wagerr Lite wallet will
be published on github for transparency, security, and to contribute to
the open source community.
Internal testnet: active development
The internal testnet is under active development. The Wagerr QA testing
team surfaced a security vulnerability in the code for how betting
transactions are processed. Due to this threat the team is hiring
additional blockchain specialists to re-engineer the attack vector
before we open the testnet to the public. Eliminating this vulnerability
will allow the team to build on top of a secure system so all future
betting types will be secure so the team can start with a solid
foundation that supports all projected developments.
We have hired a new developmental project manager to oversee all new hires and coordinate efforts across our entire dev team.
We will be releasing an updated timeline for our first open testnet that
will be using centralized oracles at the end of this month.
Upcoming: Betting events
Wagerr will be announcing a series of high profile betting opportunities
for a variety of sports betting markets. While the blockchain tech is
still in development, the team intends to make betting with Wagerr fun
for the community. At the same time, these promotional events reach new
users and expand the user base. Wagerr is also negotiating sponsorships
that will give Wagerr greater visibility. Stay tuned for more chances to
Have fun and good luck!
The Wagerr Team
Wagerr (WGR) Mainnet launch on track. Team expands.
Wagerr released the Wagerr-Lite wallet in the last update, we also
reported that the dev team had identified a security challenge. To
address it, we brought in one of the top blockchain security
consultants. Following the review, Wagerr has revised the roadmap to
make the necessary changes in design.
The main challenge facing developers is that the original architecture
was designed to accommodate a much narrower vision and scope for Wagerr,
with a focus on P2P contracts of real-world events. The overwhelming
enthusiasm during the ICO, however, afforded us the opportunity to
expand our vision. Thanks to the additional resources and user base, we
broadened the project scope to include fantasy leagues, e-sports, and
live in-game betting.
To achieve our new goals, the original prototypes for Wagerr must be
discarded and replaced with more complex architecture. This change in
design requires us to reboot development and make new hires, and we are
currently in the process of onboarding two additional C++ blockchain
The road ahead
Consequently, we anticipate a 3-6 month delay of some near-term targets.
On the bright side, the team has reconceptualized the sequence of the
roadmap, allowing us to achieve some components sooner than originally
anticipated. Furthermore, we believe the overarching targets are still
One crucial and exciting component we intend to launch on schedule is the Wagerr mainnet.
This means Wagerr holders will be able to operate Masternodes and earn
Wagerr for staking coins as soon as the mainnet starts! However, betting
and Oracle functions will not be available, but will instead remain
sandboxed in a limited testnet, which will launch and run in parallel.
Our target for mainnet+testnet is January 15.
"It took the madmen of yesterday for us to be able to act with extreme clarity today. I want to be one of those madmen. We must dare to invent the future." — Thomas Sankara
Expanding public relations
Wagerr is excited to announce it is seeking a Community Ambassador to
develop and cultivate the Wagerr community and to build positive
industry relationships. The position will foster a supportive and
growing community, raise Wagerr’s profile across the media,
cryptocurrency, and event forecasting industries, and promote Wagerr as
it develops and grows.
As we scan the regulatory environment, it becomes even clearer to the
Wagerr Team how important a decentralized solution for sports betting
really is. Rumors about China's regulation of digital currency
exchanges, for instance, cracked the price of Bitcoin in days.
Sports betting is one industry where government regulation always means a
shift in the answer to the question of who is abusing the power. The
Wagerr team is more committed than ever to delivering the secured
trustless system that disrupts autocratic centralized abuses of power.
Betting belongs on the blockchain for good reason.
Have fun and good luck!
The Wagerr Team
Oracle Masternodes on the Wagerr Network Could Become One of the Hottest Properties in Cryptocurrency in 2018
Wagerr is a revolutionary decentralized sportsbook that brings trust-less sports betting to the entire world. Using a decentralized blockchain, Wagerr will elevate the sports betting industry, and usher in a new trust-less era of fairness, availability and security. The Wagerr main and test networks will launch concurrently on Jan 15th, 2018.
What is an Oracle Masternode?
Typical cryptocurrency masternodes are nodes running the same wallet software on the same blockchain to provide extra services to the network, usually fulfilling the roles of transaction verification and governance.
A Wagerr Oracle Masternode fulfils these roles, and much more. Oracles act as consensus agents that retrieve real world sporting event data, and records the outcomes on the blockchain. This is then used by the network to determine winning bets. They also act as masternodes in that they exclusively forge betting smart contracts backed by their collateral. They form a strong second tier network backbone that efficiently processes bets and events.
A strong second tier network ensures distributed consensus and reliable operation. Each betting type has its own unique type of transaction, and by having bets take place on the second tier of the network, this allows us to ensure scale when it comes to creating consensus for determining winners and losers.
Oracles not only collect 50% of the betting fees for their work, but also win a portion of the fixed periodic block award. What’s more, the Wagerr tokens earned can increase in value as the Wagerr economy grows. Their status is so prestigious that the number of Oracle Masternodes is limited to only 2,000. This ensures fair compensation for their unique type of work.
What does an Oracle Masternode Do and How Does it Function?
Oracle Masternodes’ primary function is to regularly post new upcoming events in the sporting world so users can bet on their outcomes. Once events are finished, Oracles post the outcomes to allow for all bets to be resolved.
Oracle Masternodes form a second layer of the Wagerr network and function as consensus agents, forging betting contracts, retrieving sporting events outcome data, and consensually validating results, which are able to execute contractual pay-outs.
Wagerr is dependent on Oracle Masternodes to accurately report real match data, allowing for bets to be published and resolved correctly. There are multiple ways Oracle Masternodes can gather sports information. Regardless of the source, the information must be formatted correctly to ensure the publication reaches consensus with the rest of the network.
There are three ways to gather sports data:
- Sports betting APIs
- Sports website scrapes
- Manual entry
To ensure not all Oracles are pulling data from the same source, Wagerr requires the Oracle to report its data source to the network, and if required the network can force a limit on each source.
Event outcome is confirmed only after 75% of all Oracles achieve consensus on the results. Once the outcome is confirmed and published, the Wagerr network recognizes fulfilment of the contract, and the winning user is paid out accordingly.
Activating an Oracle is the process by which an individual chooses to promote their node, engage in a 30-day contract of service, and become a consensus agent. This contract ensures that owners must maintain a level of service, and agree to lock collateralized tokens to a simple smart contract which initiates a timed release.
The requirements for running a Wagerr Oracle Masternode are as follows:
- 25k Wagerr tokens collateralised over a 30-day service contract
- Uptime over 99% (measured weekly)
- Retrieve and input sporting event outcomes data
- A public IP address with a forced network port number
- Bandwidth to accommodate the total number of API calls
Causes for demotion of a Wagerr Oracle Masternode are as follows:
- Network connectivity uptime (Less than a 99% weekly average)
- Less than 50% participation on submission in all leagues
- Results submission inaccuracy
- Non-renewal of 30-day collateral contract
When all 2,000 Oracle slots are filled, anyone wishing to operate an Oracle Masternode will have to join a queue, and will be awarded a slot as they become available, on a first come, first served basis.
A visual representation of a typical bet on the Wagerr network is embedded below, along with steps detailing an Oracle’s function during each stage of the process.
Step 1 – Oracles actively searching for new events inside supported leagues, always trying to build consensus for upcoming events. Consensus for a new event requires a supermajority; From the 2000 possible Oracle Masternodes, 75% need to report the same event, defined by the event’s UTC time, and their unique identifying codes.
Step 2 – Users can view published events, and place bets against existing bets, or set a new line and match amount (for a take or bet partner to fill). Once betting pairs are determined to be complementary, a smart contact can be created and initiated on the Wagerr blockchain.
Step 3 – Now that a smart contract is initiated, half of the fees within that bet contract are distributed and burned. (48% destroyed, 2% to Wagerr development fund) The Oracle Masternodes create transactions dependent on the two opposing bets’ predicted outcome.
Step 4 – After the event concludes, the network relies on supermajority consensus to determine the outcome of the event. This posting allows the contract to be signalled for resolution.
Step 5 – Once the bet has been signalled for resolution, the winning bets are processed and paid out accordingly. Once the smart contract is resolved, the oracle who processes the bet receives their portion of the fee.
Why Would I Want an Oracle Masternode?
Oracle Masternodes offer the most incentive to investors because they win ongoing staking awards, while also earning fees for forging betting contracts, and updating real life event outcomes on the blockchain. In the Wagerr system, the Oracle Masternode gives you the opportunity to be the house.
The system of rewards incentivises Oracle’s crucial role as consensus agents, retrieving and consensually validating sporting event outcomes, arguably the most crucial role on a sports betting blockchain. Static block rewards incentivise node operators to hold Wagerr tokens and operate wallets with 24/7 connectivity. Failure to consistently retrieve and post data that aligns with the consensus results in deactivation.
Because the rewards for operating Oracle Masternodes are predictably far greater in the long run than liquidating them, investors will be loath to give up the residual income they generate. Masternode and staking rewards keep coins in active use in the network, and keeps their holders from adding sell pressure to the market.
If Wagerr can obtain just 1% of the $400 billion that is illegally wagered on sports in the United States alone each year, according to NBA commissioner Adam Silver, each Oracle Masternode would gain over $40,000 in fees each year (assuming a full masternode pool and 4% multi-user betting fee).
Oracle Masternodes will become vehicles of blockchain governance. Since no one has more invested in the wellbeing of the Wagerr network, Oracle operators will exercise governance through the distributed network of Oracle Masternodes.
Once the distributed network is established and stable, the original Wagerr development team will fully relinquish control of the github and distribute the role of governance to the network. The Wagerr network achieves decentralized governance through a voting system in which each Oracle Masternode holds a vote. This second tier of the network extends the principles of proof of stake to the most heavily invested Oracle Masternodes which perform the essential functions of the sports betting blockchain.
Types of governance required includes resolving pay-out disputes, managing the penalisation and demotion of underperforming nodes, and perhaps most importantly, voting.
A decentralized voting mechanism within the Wagerr wallet allows network and protocol changes to be proposed. Voting will also allow proposals for future features or functions to be added to the ecosystem. Oracles will even be able to propose and vote on major fixes or proposed economic changes like increasing the maximum Oracle count, fees’ structure and raising or lowering block rewards to name a few. From there, the Oracle Masternodes vote on the proposal. Each change or modification passed with two thirds majority Is deployed to the main network automatically.
Oracle Masternodes will perform many pivotal roles for the Wagerr network. From providing fixtures and resulting, forging smart contracts and ensuring pay-outs, to voting on network and protocol changes and the evolution of the platform. They will be rewarded in kind, receiving not only block awards but 50% of all betting fees.
At a limited number of 2,000 Oracle Masternodes, sharing 50% of the betting fees from the only truly global sportsbook in the world, you may be looking at one of the hottest properties in all of cryptocurrency in 2018 and in years to come.
Detailed information on how to set up and activate your Oracle Masternode will be available on launch of the main and test networks on Jan 15th, 2018.
Wagerr Launch Update - January 15th
The Wagerr code is ready, however in our attempt to re-launch the chain we are running into a mining error that is preventing us from starting the chain error-free. We have a solution, but our current fix may comprimise the long term security of the network. We are currently assessing the implications of this fix. We are committed to the long term viability of the project, and will continue to work until it is resolved. We have thought hard about this decision, collectively as a team, and feel this is the best decision, rather than rushing out a product which may have costly implications down the line. We will update the community in the next 12 hours. Thank you for your patience.
Start your Wagerr Mainnet wallets. Swap your Wagerr tokens for WGR Mainnet coins.
Hello Wagerr Community,
Wagerr Mainnet wallets are available for download. Please follow theseinstructions to set up your wallet and prepare it to receive Wagerr Mainnet coins.
Transferring from wagerr.com
If you never moved your coins from wagerr.com, transferring them to your Wagerr Mainnet address is straightforward. Visit wagerr.com to download the wallet, log in, and enter your Mainnet address to receive your coins.
Transferring from Wagerr-over-Waves tokens
If you are transferring Wagerr-over-Waves tokens by sending them to the official gateway address, you mustinclude your Wagerr Mainnet wallet address in the attachment field on your Waves wallet.
Since there are multiple versions of the Waves wallet, instructions for each version are spelled out in detail. The team has done its best to streamline the process by pre-populating the Wagerr-branded Waves wallet with the official gateway address. The Wagerr-over-Waves web wallet (available on wagerr.com) also pre-populates the official gateway address.
If you choose to use the generic Waves wallet, you will have to enter the gateway address manually and also include your Wagerr mainnet wallet address in the attachment field. The result will be the same, but the customized versions are more straightforward because there are fewer variables.
To allow fair access, there will be no block rewards until block 10,000. Keep in mind, that if you choose to stake, every stake will cost 0.00001480 Wagerr in network transaction fees. To prevent this, you can add the parameter staking=0 to the configuration file.
Because of the way that zerocoin works, any Wagerr that are converted to zWagerr are secured in the wallet.dat, not on the blockchain. It is therefore necessary to maintain a secure backup of your wallet.dat (not just your private keys) in order to maintain control of your zWagerr. If you prefer to turn off zerocoin functionality, you can edit the configuration file with the following parameters:
Up Next: Masternodes
Up next in the graduated rollout of the Wagerr Mainnet: Masternodes! Stay tuned for instructions on setting them up.
The Wagerr Team
Get Ready to Wagerr on the World Cup!
The Wagerr Team has been extremely busy over the last few months, and is proud to announce that they are now currently testing both head-to-head betting and on-chain betting on the Wagerr Privatenet, in preparation for the 2018 World Cup!
Wagerr holders can expect to either bet in pairs against each other through matched head to head bets, or directly on the blockchain, which will mediate the collective payout liability. The team’s current sentiment is that on-chain betting is the most feasible starting point for Wagerr betting during the 2018 World Cup.
The Wagerr Team has been working to develop Oracle Masternodes that can contribute to resulting for the World Cup. The Oracle Masternodes function as the central checkpoint to achieve super-consensus on event results, thus triggering proper payouts. The team believes that the best way to deploy the Wagerr betting layer is in a modular fashion. As a result, the first Oracle Masternodes for the World Cup will be centralized, and run by the team.
The scheduled portion of fees generated from Wagerr Network betting, and earned by the centralized Oracles, will initially be distributed to eligible (active) masternodes, rewarding those who have supported the network in its early stage.
It's also worth noting at this point that CEO David Mah has been in negotiations to license Wagerr (the company) as a regulated gaming business. It is a lengthy process, but one that Wagerr is proud to embark on. This move intelligently positions Wagerr to raise its profile within the current online gaming industry while rolling out a fully decentralized system. This will not negatively impact the ability of any user, in any location, to interact with the blockchain.
The next few months will be a very exciting time for the Wagerr Community! The weather is heating up, and so is the Wagerr Network! The team has been working very hard on development, exchange negotiations are ongoing, the team has entered discussions regarding future partnerships that could be beneficial for both Wagerr users & the Wagerr Network as a whole, and the team has been solidifying their marketing plans in anticipation of the World Cup and the start of betting on the Wagerr Blockchain! Stay tuned to Wagerr.com & Wagerr's numerous social media channels for many more exciting announcements over the next few months.
Betting belongs on the Blockchain... And that’s exactly what the team intends to make possible for the 2018 World Cup!
--- The Wagerr Team