- Volume Multiplier
The Cronos No-Limit Sportsbook project solves existing problems by developing upon proven functional infrastructure: the Wagerr blockchain. Wagerr is a decentralized sportsbook with counter-inflationary tokenomic mechanisms. Wagerr acts as the counterparty to every bet, allowing anyone with CRO tokens to take advantage of true odds, unlimited liquidity, and guaranteed payouts.
CRONOS token holders can place bets on Wagerr using Wagerr.com sportsbook web application. They can also use a variety of Wagerr wallet apps with betting functionality. Wagerr has real users and real utility, with over $40 million paid out in winning bets and nearly 800 million WGR bet. Wagerr offers hundreds of popular sports events and is available globally.
How the project helps CRONOS:
Cronos No-Limit Sportsbook adds utility to the Cronos blockchain and the Cronos decentralized exchange (dex). Anyone with Cronos tokens can place sports bets on the Wagerr blockchain and get payouts in the same token. Cross-chain betting happens in the background, making Cronos an entertainment destination. Users will come to trade and stay to bet and vice versa. Both activities (betting and trading) increase network transaction volume and increase fees paid to Cronos witnesses.
How the project attracts sports bettors:
Augur (REP) on Ethereum was supposed to be the killer app: a decentralized prediction market. That’s why REP tokens are worth $20-$60. But Augur has a dirty little secret: No one uses it. It’s basically unusable because it has no liquidity (no betting depth), outrageous and unpredictable network transaction fees, and bad effective odds that make the potential rewards of betting not worth the risk. The Cronos No-Limit Sportsbook project solves all these problems by developing upon proven functional infrastructure: the Wagerr blockchain. Wagerr acts as the counterparty to every bet, allowing anyone with CRONOS tokens to take advantage of true odds, unlimited liquidity, and guaranteed payouts.
The CRONOS No-Limit Sportsbook project solves Augur’s fatal problems: odds, bet size, and network fees.
Wagerr offers dynamically updating odds, so users always get the most current and competitive pricing. Wagerr offers true odds. Wagerr consistently matches the odds offered by Pinnacle, a centralized book known for its pricing, and consistently beats most of the legacy sportsbook and crypto sportsbook competition. The project makes true odds available to CRONOS token holders.
“No-limit” means any bet size
Wagerr is the counterparty to every bet. As counterparty, the blockchain guarantees payouts for every winning bet. As a result, Wagerr users can bet any amount. On Augur, by contrast, bettors are limited by the bet size offered by the counterparty. Bet size has to be large enough to counter ETH’s gas fees. The project makes Wagerr’s unlimited liquidity available to CRONOS token holders.
Bet any time:
Wagerr offers instant betting any time. Easily search by league, event, or team. Pick a side and place a bet. The project makes easy instantaneous betting at the best odds available to CRO token holders.
Cronos No-Limit Sportsbetting provides a pathway to increase the userbase for Cronos blockchain, Cronos DEX, CRO cryptocurrency, and for all tokens on the blockchain.
The design of Wagerr tokenomics is quite simple in principle and focuses on both supply and demand.
First, the Wagerr blockchain creates demand for WGR by offering real utility with advantages not available on any other betting platform or sportsbook, centralized or decentralized.
Wagerr systematically shrinks the WGR coin supply via burning the coin when users interact with the Wagerr protocol.
The simultaneous increase in demand for WGR and diminished availability due to scarcity affect market price dynamics.
Wagerr has two use cases: as a Sportsbook and as a Risk Management tool for traditional sportsbooks.
Wagerr has 3 competitor groups to the sportsbook model:
1. Traditional centralized corporate sportsbooks (Pinnacle, William Hill, etc.)
2. Crypto betting exchanges (Augur REP)
3. Individual private unregulated bookmakers.
Wagerr competitors as a risk management tool are other established sportsbooks. Traditional centralized corporate sportsbooks (Pinnacle, William Hill) use other sportsbooks to manage risk when lopsided betting puts the company at risk of payout liability that could interfere with their business model or even drive the company into bankruptcy.
What makes Wagerr better
AS A SPORTSBOOK:
1. Wagerr is better than traditional centralized corporate sportsbooks because Wagerr has unlimited liquidity (betting depth), never blocks winning bettors, never leaks private user information, and always pays winning bets. Wagerr offers true odds that are competitive with the best odds on legacy platforms. Wagerr accommodates betting "whales" in a way that mainstream books simply cannot and will not. Legacy operators slow down their biggest and best customers by limiting their bet size and changing the odds. Wagerr is the perfect platform for players seeking high stakes betting.
2. Wagerr is better than crypto betting exchanges because it is a crypto-backed sportsbook with unlimited betting depth, not dependent upon matching peers to complete a betting contract. Wagerr settles events much faster than Augur, usually within minutes of games ending. Wagerr fees are much lower than Augur fees (Ethereum network fees were recently $150-350/transaction, effectively destroying the viability of small- to mid-scale betting, and basically eliminates betting on the favorite because even a high probability win is crushed by the certainty of a fee). On Augur, even winners are likely to be losers. Wagerr's true odds and negligible network transaction fees (under a penny) give users the best chance at winning.
3. Wagerr is better than private unregistered, unregulated bookies because payouts are guaranteed. The Wagerr blockchain is self-enforced by a neutral network protocol, and is not vulnerable to corruption, greed, or fear.
AS A RISK MANAGEMENT TOOL:
There are two problems with the traditional model of offloading liability to competitors. First, companies give business to their competitors each time they place a balancing bet on a competing sportsbook. Second, competitors can not always offer sufficient betting depth to accommodate the balancing bet. When the bet cannot be balanced, corporations resort to limiting betting on their own platform, which in turn limits their bottom line (profits) and alienates their customers. At extreme levels, centralized sportsbooks block customers making the biggest bets and unilaterally invalidate the biggest winning bets to evade their payout obligations. Wagerr never encounters this problem because the Wagerr blockchain can accommodate payouts of any size. Expert bettors who win more than they lose are always welcome at Wagerr.
Top Match 24, a centralized sportsbook with emphasis on the LatAm betting community, has adopted Wagerr for risk management. In addition to the standard mechanism to balance uneven betting and manage payout liability, TopMatch uses Wagerr to expand their offerings. TopMatch offers customers the opportunity to propose bets of any size. TopMatch can afford to say "Yes," to these proposals because they can offset the liability they assume by placing a bet on Wagerr.
In summary, Wagerr offers:
• Unlimited liquidity
• True odds
• Best pricing
• Rapid settlement
• Guaranteed payouts
• Wide range of events, leagues, and sports
• Privacy protection
• Self-custody of funds
• With Wagerr tokenomics, WGR holders can "Be the House"
• Independent blockchain eliminates risks of outrageous network fees that destroy the value proposition for betting platforms based on ETH