Alternative betting exchanges, Smarkets, Matchbook etc. : Wagerr

spreadbetting
Posts: 1325
Joined: Sun Jan 31, 2010 8:06 pm

Mon Jan 15, 2018 12:05 pm

It's always the lowest common denominator you need to attract to a betting platform not the shrewdies. I'm sure you probably know plenty of people who find, or assume, Betfair is too complicated, they're the people I want to bet against. Using a browser is one thing but all that hassle just to fund an account is going to put people off. Plus I'm not sure the man in the street will no regulations as a good thing. If all the dealers stop using the fruities to clean their cash maybe I'll get onboard.

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northbound
Posts: 340
Joined: Mon Mar 20, 2017 11:22 pm

Mon Jan 15, 2018 12:26 pm

spreadbetting wrote:
Mon Jan 15, 2018 12:05 pm
Using a browser is one thing but all that hassle just to fund an account is going to put people off.
It is going to, you’re right. At the moment.

But perhaps 1-2 years from now there will be ways to deposit and bet seamlessly on this blockchain: this has the potential of attracting loads of players from all over the world.

Also, some big bookmakers could move away from their traditional odds making business and instead operating Wagerr nodes and creating neat interfaces for players to bet on this blockchain.

If these things happen, WGR tokens that today cost less than $1 could be worth $50+.

So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.

LinusP
Posts: 1333
Joined: Mon Jul 02, 2012 10:45 pm

Mon Jan 15, 2018 12:53 pm

northbound wrote:
Mon Jan 15, 2018 12:26 pm
So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.
Or investing in the dot-com boom...

xitian
Posts: 430
Joined: Fri Jul 08, 2011 2:08 pm

Mon Jan 15, 2018 1:06 pm

Will the 2-3% commission be settled on your net position in the market, or on each bet you place?

I’m guessing it’ll be on each bet you place since every transaction needs to be paid for to be verified by the blockchain. This would make trading close to impossible. On Betfair, if I have a winning bet and a losing bet of equal value then I pay nothing. Or am wrong?

I also have concerns about latency. For something like horse racing, you need transaction confirmation times in the low 100ms to be able to do what we do now on Betfair. That’s very unlikely to be achievable in a decentralised distributed system. Or otherwise you’ll need a localised intermediary exchange but then that wipes out much of the point of the whole thing.

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northbound
Posts: 340
Joined: Mon Mar 20, 2017 11:22 pm

Mon Jan 15, 2018 1:15 pm

LinusP wrote:
Mon Jan 15, 2018 12:53 pm
northbound wrote:
Mon Jan 15, 2018 12:26 pm
So, the Wagerr project is both a promising betting/exchange platform, but also a potentially good investment. A bit like buying a big plot of desert in Dubai 50 years ago.
Or investing in the dot-com boom...
Amazon, Google and eBay were founded during the dot-com boom.

But it’s also true that I would never have invested a big chunk of my saving on either at the time.

And neither I would now on Wagerr. However I’d definitely invest a small, speculative chunk.

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northbound
Posts: 340
Joined: Mon Mar 20, 2017 11:22 pm

Mon Jan 15, 2018 1:17 pm

xitian wrote:
Mon Jan 15, 2018 1:06 pm
Will the 2-3% commission be settled on your net position in the market, or on each bet you place?

...

I also have concerns about latency.
Your concerns are well founded and at the moment there are no definitive answers.

It’s still very early days.

spreadbetting
Posts: 1325
Joined: Sun Jan 31, 2010 8:06 pm

Mon Jan 15, 2018 1:38 pm

Had a look at the site and vids, god knows who they're trying to attract on board. Seems the only real decision they've made is to jump on the blockchain bandwagon and hope for the best.

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northbound
Posts: 340
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Mon Jan 15, 2018 1:40 pm

Time will tell...

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