The last few months of the crypto market have offered an amazing opportunity. With coin and token values being at a 2-year low in most cases, it has opened up the opportunity to really deep dive into projects I haven’t considered in the past. Even better, is nearly any project you buy into at this point will be profitable at a future point, assuming the coin has some kind of use-case or tech-backing.
This leads into the subject of today’s article, a deep dive Wagerr review.
TLDR: The Future of Wagerr looks bright. Head-to-Head betting, Fantasy Sports and blockchain improvements are all coming. I was pleasantly surprised every step of the way, and definitely recommend you taking a look at it yourself and doing your own due diligence.
Before we get into it though, a quick disclaimer. This article is not meant to be financial advice and it is not meant to convince you to get into Wagerr (WGR) yourself. As a result of testing out the network, I do hold WGR (the coin that powers the Wagerr project) and use that holding to power a Wagerr Masternode. There also are referral links to the Wagerr project embedded, so any clicks are appreciated. This article is simply an opinionated Wagerr Review of my experience using the project and observations I made along the way. Please do your own due diligence and connect with an actual financial advisor before embarking on any new investment path.
What is Wagerr
Wagerr is a private, no limit sportsbook powered by its own open-source blockchain. As a blockchain based sportsbook, Wagerr offers bettors distinct features and benefits unavailable anywhere else. Wagerr was founded in 2017, has been operational since 2018 and continues to set the standard in the industry with unmatched transparency, true odds, unlimited betting liquidity, low fees, complete privacy, and reliability. For anyone who wants to wager on sports, regardless of where you are located, this is an amazing project. If you are against sports betting, this project still has some worthwhile benefits. Also, please know, that if you are someone who thinks crypto-trading is risky, sports betting should be considered 10x riskier. However, Wagerr takes some of the risk out of the equation. Even better, even if you are not a bettor (I am not), the project still can generate some significant returns for you. All of that, and more, will be explained in this article.
Benefits of Wagerr
Built on its own Open-Sourced Blockchain – A huge benefit because not only is the code used secure, but the project supports multiple entry points. By not being an Ethereum based smart contract token, you can avoid the insane ETH gas fees. However, it also does support ETH conversion, as well as Binance (BNB), giving you liquidation options.
Blockchain Guaranteed Payout – One of the drawbacks to online sports betting is the lack of trust and transparency with sportsbooks. Because sports betting is not legally supported in many areas, sportsbooks are free to run away with your winnings. With Wagerr, this cannot happen. Every wager is a blockchain verified transaction and the result of that wager (including any payout), is also blockchain controlled. So if your initial wager transaction is verified/approved upon submittal, and the event happens as wagered on, the payout is also blockchain guaranteed. No wager can be verified/approved if there isn’t enough Wagerr in the system to pay out the winnings (more on this later as the system can actually adjust its quantity to meet the needs of demand). The importance of this cannot be understated and is one of the reasons this project is so amazing.
Masternodes for the WIN – Any frequent reader of UnderstandingCrypto.info knows how much I love running nodes. And Wagerr has a great node program. Even better, a Masternode is available on Allnodes, which is by far and away my node hosting service of choice. Masternodes help run the Wagerr blockchain. It takes 25,000 WGR to support a Masternode, but in return you earn a value of WGR back based on the overall betting volume. Allnodes currently estimates this as a 23.45% ROI, but that is more an estimate given rewards are partially volume based. Even at the 9.9% Wagerr estimates, it is still a great value. However, it does put the ROI in the top 5 (currently) for all node types on Allnodes, and has the second lowest entry cost (under $600 at current prices) of those 5 projects. It was a no-brainer for us to have at least 1 WGR Masternode in our portfolio.
Blockchain Explorer – If you use ETHscan or anything similar for another network, you will love the WGR Explorer. You can view all network transactions and confirmations through it, and gives you a full, up to the second overview of the network. They are fully transparent while keeping all your data secure (because there is no personal, identifying data associated with the network). I find myself using this tool often.
Some Caveats of Wagerr
Global Access – Accessing Wagerr is very simple. Whether you want to connect via your browser, a desktop app or a mobile app, cross-functionality is possible. Caveat – Some of these worked better than others. Ultimately, it all ‘does’ work, but sync times were a bit hefty. Plus, after a test wager I tried on the Super Bowl, my desktop app showed my new balance after network confirmations, but it showed pending on the web version even 2 days later. Of note though, I was able to move and send to another address from the desktop app without issue right after those 60 confirmations, so my funds were never locked or at risk.
Private Betting – As with any blockchain wallet, once you set up a wallet and backup your seed key (which you should NEVER share with anyone under any circumstances), you are free to fund, wager and pull as privately as you want to. Wagerr does not require you to sign up to its service or hand over any personal information to pull winnings. Caveat – While Wagerr itself doesn’t KYC or have any associated account info beyond the Wagerr wallet and your seed, to purchase WGR (the coin that powers the Wagerr network), you need to swap it with a Wrapped WGR via a Binance or Ethereum swap. Very likely how you purchased the underlying coin you swapped was on an exchange that does KYC. At that point, all wallet addresses and transactions could technically be linked from coin purchase, through all the transfers, through the wagering process and back out again to cash out. While unlikely to happen and would require some blockchain expertise, it is theoretically possible if you have a KYC account linked to your Wagerr account through a conversion flow.
No Betting Limits – Bettors on the Wagerr platform are capable of betting as much as they wish. There is no need to find a counterparty either, the Wagerr blockchain will accept any size bet you make. Caveat – While technically true, there are a couple of things to consider. First, you need to amass enough WGR to bet. If you wanted to lay $1m down, you would need a million dollars worth of WGR in your wallet. Given liquidity, this could be a little difficult to do quickly, though eventually would be possible. The other thing, and is what I encountered during my Super Bowl test wager, was I had to lay the same wager down multiple times because it wouldn’t accept a straight moneyline over 10,000 WGR. So if you did happen to amas 50,000,000 WGR (a little over $1m USD), you would then have to place that same bet down 5000 times. Maybe there is a workaround for this. But in my experience, it is how it worked. The benefit is, it will only accept wagers it can payout if you win. The cap is likely so the economic foundation behind the blockchain can mint/burn as needed to keep the ecosystem of the WGR economics in line. So again, there is zero risk of losing your funds. A fair trade off.
Sharp Odds – The Wagerr blockchain is not a company and does not require profit. This means Wagerr can provide you with incredibly sharp odds. Caveat – While this is technically true, all the Super Bowl odds available to me were in line with what was available on full sportsbooks. There were also fewer prop bets available on Wagerr. So maybe on other sports the better odds happened more frequently, but for my Super Bowl test, it was in line with other sportsbooks.
Wagerr is not just a sportsbook blockchain and WGR is not just the token that powers the Wagerr ecosystem. Combined, they are a fully structured, evolving economy. Even if you aren’t interested in blockchain use cases or sports betting, this project is still worth looking into because of its underlying economic structure.
The crux of any unit of economic value is supply and demand. Demand for Wagerr comes from having a product with a strong value proposition. The reduction of supply of WGR comes from the network operating effectively. Demand for Wagerr drives upward price pressure on WGR while supply pressure creates scarcity. It is the combination of demand for the product and the reduction of WGR in the market through interaction with the protocol that gives WGR value. Simply put, the value of WGR is coupled to the network value.
To go deeper, peerless, on-chain betting creates a dynamic supply of WGR in the market as the blockchain ‘burns’ WGR as bets are placed and ‘Mints’ WGR to pay out winning bets. This creates a risk for the chain. If bettors win too much the WGR supply will increase devaluing the WGR coin over time. This is no different to a traditional sportsbook that may experience periods where they have liabilities greater than what they take in bets.
To counter this, sportsbooks put a margin in the odds so that despite the outcome on events over the long term, they remain profitable. This margin, commonly known as the ‘house edge’ or ‘juice’ puts the edge in favor of the sportsbook to generate an income stream over time. Wagerr employs the same model, except in Wagerr’s case, 50% of the ‘house edge’ is burned tilting the probability of the blockchain to burn more coins than it mints. In the below example, a 100 WGR bet at 2:1 (+100) odds creates an overall burn of 1.5 WGR over time. Sports betting has many more variables than a coin flip, Wagerr ultimately needs to be good at finding the ‘true odds’. Successfully doing so will produce deflationary pressure with minimal variance.
To take things a step further, Wagerr utilizes the concept of Value Coupling, which essentially means the value of WGR is systematically tied to the use and value of the blockchain. The Wagerr network reduces the risk to value and protects holders of the WGR tokens by linking betting volume to coin supply. This is established via the ‘House edge’ mentioned above where 50% of the house edge is burned driving scarcity of WGR.
Value Coupling creates a self-balancing mechanism within a varying price dynamic. When the price of WGR is falling, more WGR is required to make a bet of equivalent USD value, thus more WGR is burned in each bet. This accelerating burn creates deflationary pressure on the coin supply, driving upward price pressure over time. Alternatively, when the price of WGR is rising, less WGR is required to make a bet of equivalent USD value, this reduces the WGR burned on each bet and slows the deflationary pressure.
Over time, this creates an asset that is less volatile and more accurately reflects both adoption and usage of the Wagerr protocol.
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 is by driving a deflationary economy.
Wagerr Review – My experience
As mentioned above, I dove deep into the Wagerr project and even tried out a small bet for the Super Bowl as a test. Here is how the process went for me.
Setting up my Wagerr Wallet Account – Setting up an account via the Wagerr website was extremely easy. As advertised, there was no identifying information asked. You create a wallet. Back up your seed. And everything else is based off that seed. If you ‘log out’ you will need to reenter your seed (so make sure you don’t do it on a shared computer)
Wagerr Support – At one point I wanted to try out the mobile app. The one I initially downloaded from the Google Play store was a lite version, essentially just a wallet explorer. This makes sense though since having a full sportsbook app on the Play store would be against Terms of Service. However, I was able to download the Wagerr Pro app from the Wagerr site, free of charge. After entering my seed and waiting for the app to sync with the chains, everything matched between the web version, the Google Play lite version and the full Wagerr Pro version. Things got really interesting though when I decided to try the desktop app. I inadvertently downloaded the Wagerr Electron app, which is more designed for deeper use, including Masternode support. I was unable to inject my seed into this app, which ended up being a good thing. I first tried the Wagerr Discord for support and got a little nervous when no message popped up. However, I then shifted over to Telegram and was helped within minutes… on Superbowl Sunday (or maybe it was the day before? I forget). End result… I should have been using the Wagerr Electrum app vs the Electron app. So long paragraph short, support was amazing and there was no negative rudeness sent my way for what was clearly my own user error.
How to Buy Wagerr Coin – Funding my Wagerr account was as difficult as it was simple. It isn’t on major exchanges, so I had to find some swapping workarounds. Also, I despise ETH projects, so was excited to see that Wagerr supported not just ETH swaps, but BNB swaps as well. I didn’t have any BNB though, so I bought some using my Crypto.com account and sent it over to my BSC account on MetaMask. I did have to wait 24 hours for Crypto.com to whitelist the address, but in anticipation of this I had done that the day before. Once the BNB arrived in my MetaMask, I swapped it direct into WGR. Of note, this WGR is more a BSC Wrapped WGR, not WGR in itself. Once the BNB swapped into this BSC Wrapped WGR, I went to the WGR website and on the top menu bar was a ‘Swap’ option. This is the final step and allows you to swap the Wrapped WGR (whether BSC or ETH based) into actual WGR. Then, when you want to pull, you swap back out and reverse the process. In all, the entire process took less than 30m. There are a lot of steps and many places things can go wrong, but overall it was fairly intuitive and I never really felt like I was at risk of losing anything. This is also a great time for me to shout out Binance Coin (BNB). I haven’t used Binance itself in 6+ years, however, the Binance Smart Chain (BSC) is an amazing alternative to Ethereum (ETH). In all, I funded $553.17 into my Crypto.com account for this test. When it landed into my WGR account after every fee from every purchase and transfer, I ended up with 25,936.67 WGR, which was between $570-$590 because of the price value of Wagerr fluctuating. I actually made money in the process (though it was not a realized gain since it was in WGR still). Still… amazing, and way better than being forced into losing 1/3 of my coin to gas.
Placing a Bet with Wagerr – Placing a bet was really easy. I was able to quickly find what I wanted, which was Super Bowl opportunities. They had the ML, ATS and Total Point options that are typical, plus allowed parlays. They also had some prop bets but were all mainly offensive based. I was really wanting a Total Sack over/under that I didn’t see. I decided to place 3 bets, 2 at 10,000 WGR each on the Rams ML and the remaining 5936 WGR on the Rams ATS, which was -4.5. I had to split the ML bet into 2 separate bets as mentioned earlier in the article in the No Betting Limits section. I structured the bet so as long as the Rams won, I would come out ahead. The ATS would be gravy. This all went without a hitch. I did really appreciate that my bet, and any potential payout, was secured by the blockchain.
Results of my Wagerr / Super Bowl Test – As you probably know, the Rams won the Super Bowl, but only by 3 points. So I won the two ML bets but lost the ATS bet. My winning positions closed out within seconds of the game finishing, which was great to see. The return payment to me of 29,508 WGR was immediately initiated, though I did have to wait for 60 confirmations for it to be available in my account to spend. This took about an hour, and my balance was Pending until then. In all, I made 3,571.33 WGR in profit.
Wagerr Masternode – Going into this experiment, I was already impressed with the Wagerr project. It has been working and active for 4-5 years, and is still being developed on. Other than the difficulty in getting my WGR coin, the entire experience, including my interaction with the Telegram support went extremely well. So I decided to officially add a Wagerr Masternode to my portfolio. This process was extremely easy, especially since I already had the Wagerr Electron app installed from my early blunder, I already am an active Allnodes user and I already had the 25,000 WGR in my account. If anything would have gone awry during my test, this would be a completely different article. However, it was an amazing experience so I opted to further support the network. Setting up the Masternode took about 10-15minutes. I transferred the 25,000 WGR to my Wager Electron App address from my Wagerr Electrum app. Even though the web version never synced again properly, the app worked fine and let me transfer it right after those 60 confirmations. I then waited for another 12 confirmations once my transfer was complete. I then jumped over to Allnodes, followed the instructions and was good to go. It wasn’t as fast or easy as setting up a ZEN node, but it isn’t fair to compare any blockchain project to the greatest of them all. Still though, the WGR node took less than 15 minutes in all to set up, and now not only am I supporting the network, but I’m earning extra Wagerr every week.
Is WGR Worth It?
How you judge the value of a blockchain project may be different than how I do. At the time of writing (2/15/2022), WGR is 1252 in total marketcap and is at $0.02257.
Its All Time High (ATH) was $0.943 back in early 2018, but was almost at $0.14 last summer, which was before the crypto market meltdown.
If you are looking for a small marketcap coin that is non-ETH based (so no crippling gas fees), has a solid technology, use case and economic system behind it, WGR is definitely worth looking into. It can 5-7x its currently value just by following the market.
If you are looking for a safe, secure Sportsbook, even if you weren’t an avid crypto investor, I still think it is a solid option. So much so, I kept the remaining of my winnings in my Electrum account because of my experience. The fact it is a blockchain project, your winnings can be further magnified in time. My 3,571 WGR in profit is only worth $80 now. But if I hold it and wait for the crypto market to recover, it likely will 5x and be worth over $400. So at entering in during a bear market, you get the opportunity gains of not only your wagers themselves, but also of the increasing value of the coin. Add in Masternode rewards, and it could be among your top overall performers, especially if you are a great sports bettor.
I don’t think WGR will hit $1, $10 or $100 anytime soon though. Adoption will be tough as it is a very niche market. While there are billions of dollars flowing through sportsbooks every year, it is also a highly regulated industry. Crypto itself is becoming more and more regulated. I imagine a privacy-focused crypto sportsbook will have a hard go of it once it ever became big. VPNs will help most of this, but I can see it running into hurdles in the future. The sweet spot may be anywhere in that under $1 range to keep it small enough to avoid unwanted, extra regulatory attention.
The Future of Wagerr
The Future of Wagerr looks bright. Head-to-Head betting, Fantasy Sports and blockchain improvements are all coming. I was pleasantly surprised every step of the way, and definitely recommend you taking a look at it yourself and doing your own due diligence. I for one will continue to support the network, and if the development team needs any assistance, I’m hoping they reach out to me.
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