Wagerr – Decentralized Betting Blockchain Sportsbook Contracts?
The concept of betting on the outcome of sporting events has been around as long as the sporting events themselves. The thrill of gambling on these events has drawn innumerable players in and made them feel more connected with the outcome of each game.
Unfortunately, betting on sports is no different than other forms of gambling in that it draws in the seedier members of society who want to capitalize on its money making potential. This has made it very dangerous to engage in, and you never know when placing the wrong bet with the wrong person could cost you dearly.
In most locations today, sports betting has been outlawed. This makes the act of betting on sporting events even more dangerous, as you have to seek out illegal bookmakers in order to place z bet of any meaningful size, and failure to pay is often met with assault or even death.
What if there was a way to bet on sporting events legally, without having to face the dangers of dealing with underworld society and without the possible repercussions of being caught in criminal activity?
It would not only be safer, but it would be more reliable, too. Having a legal platform to place bets with would make for a much more trustworthy and secure bet than having to trust criminals to uphold honorable gambling practices within their illegal operations.
If this sounds great to you, then you’re in luck! Thanks to the invention of cryptocurrencies like Bitcoin, there is now a decentralized currency that is not controlled by any government or under the control of any gambling laws.
Because of this, there is an opportunity to use these cryptocurrencies to operate a legal sports betting platform, and that’s exactly what Wagerr has done.
Betting Without The Need To Trust
Bitcoin and other forms of cryptocurrency operate using blockchain technology. The blockchain contains the algorithms that create each coin and track each transaction, and it also contains the rules or contracts that rule over the transactions themselves. Using this blockchain system, developers can alter its rules and algorithms to suit their own needs.
This is exactly what Wagerr did when they created their own cryptocurrency for use on their website. Wagerr uses the technology to create and manage extensive betting contracts. It takes the bets into escrow, checks the sporting event’s results, and pay the winners all automatically.
Because this blockchain system eliminated the need for management of centralized authority over each bet, Wagerr users don’t have to deal with the biggest problems associated with sports betting. This reduces both the risks involved and the possibility for corruption or for anyone to take advantage.
Easy To Use
Whether you are experience with cryptocurrency or not, even those brand new to the concept and to the Wagerr website can easily learn how to use their wallet to place bets and track results.
You can invest in the Wagerr system itself by operating an Oracle, and because of the nature of cryptocurrency anyone who ones even a little bit of Wagerr coins actually holds a stake.
A Gigantic Untapped Market
As reported by NBA commissioner Adam Silver, it is estimated that at least $400 billion is used to illegally bet on the outcomes of sporting events every year. This is one of the primary reasons that Wagerr is needed.
Hundreds of billions of dollars are bet every year by millions of people who put themselves in harm’s way to do so against the laws of their local principalities. With Wagerr, these bets can be placed legally and without the same risks and worries.
When you bet using the underground market, you have to put your trust in bookies or in illegal websites that are run through a centralized authority who can take advantage of them or scam their users.
Even if these sources don’t just run away with your money, they could just as easily get shut down by the governments they defy. When that happens, it’s safe to bet that they won’t be making any payouts.
Because the wager system is operated using blockchain technology, it can be relied on to be self-regulating. And because cryptocurrency is decentralized, you can rest safe in the fact that you actually aren’t breaking the law. Wagerr users can appreciate safe, secure, and private betting from anywhere in the world.
These users don’t have to worry about the illegality, corruption, violence, and high fees related to today’s gambling underworld. Using Wagerr is legal and safe. There’s no longer any need to worry or put yourself at risk in order to enjoy this age old form of entertainment.