Decentralized Sports Betting with Wagerr
Sports betting is a highly profitable market, raking in billions in revenue every year. A research firm Eilers & Krejcik Gaming, LLC, reported that the legal sports betting market in the US was worth over $250 million as at 2017. Interestingly, between $2.5 billion to $3 billion goes into black market betting because of regulatory laws. The Commissioner of NBA, Adam Silver at some point stated that “$400 billion is illegally wagered on sports each year.”
Wagerr which claims to be a “revolutionary sports betting blockchain network,” is hoping to solve some of the challenges of the betting industry. The company in a tweet dated 22 October stated that:
Tomorrow the #ChampionsLeague returns and #Wagerr has all your #betting needs covered! Every game is live on the board with the best #odds in the world!
Wagerr utilizes blockchain tech to execute betting contracts; from receiving stakes to verifying results, and paying out winners. With this, anyone, anywhere can place bets and be free from central and often corrupt authorities.