The gambling industry, which has often operated in the shadows of legitimacy, is now adopting blockchain technology. The first step in this journey was taken by Wagerr, which has launched a new decentralized betting market.
The World Is Introduced to DLT Betting
Wagerr launched Direct-Chain betting protocol, which could help create an unrestricted and decentralized gambling platform that could be operated across borders on a blockchain network.
The platform, which was launched on Sept. 15, would allow gamblers across the world to access the betting markets of their choice on both PC and Android. It also makes it possible to bet with low fees, which is limited to only six percent on winnings. It also helps users place bets securely and pays the winners without the need for a centralized authority.
The low fees allow Wagerr to offer some of the best odds in the industry. All WGR token users benefit from betting activity, and half of the fee is always burned, which helps reduce the outstanding supply over time. About 40 percent of WGR is delivered to active Masternodes, and the token is designed to follow a deflationary supply model.
Trustless Sports Betting Facilitated Via Wagerr
The new blockchain-based system helps to create a trustless sports betting environment where gamblers who can operate in a borderless environment. The decentralized sportsbook is open to a global audience and helps to create secure and private gambling ecosystems.
Wagerr claims that the trillions of dollars’ worth of sports betting revenue or client money could benefit from the use of blockchain-based solutions. It adds:
“It is unfortunate that bettors wishing to engage in their hobby currently face issues such as a lack of trust, lack of fairness, poor or no availability to them and security mishaps, just to name a few.”
Claiming that lack of fairness is the biggest problem in the betting world, Wagerr presents blockchain-based betting as the answer to risk and corruption in the industry.