Reasons I Bought More Wagerr (WGR)

By costanza | costanza | 30 Mar 2021

Wagerr (WGR) is one of the Sports Betting related coins I made a small initial investment way back in 2017 hodling it all the way up and down again. Today I added a bit to my position, here are the reasons why...

So far, the WGR I bought back in the past hasn't been all too good of an investment. Mostly because I actually started using it to bet trying to take advantage of minor inefficiencies in the market which theoretically should have a positive expectation over time. Unfortunately, I got hit by a combination of bad variance and too high stakes compared to the stack I originally bought which made me go from 12k WGR down to around 6k WGR. I see it all as part of the game and don't really have an issue taking a loss in cases like this. I never had that much of an urge to buy more WGR until recently. These are the things that changed.

1. Personal Interest and Use
The Wagerr Decentralized Sportsbook is a product that actually is usable for me as a sports bettor. Right now it by no means is anything groundbreaking and the betting options are rather limited. Since they offer the Belgian League with Asian handicap and at times competitive odds, it is one of the few crypto Sports Books I actually use and see myself using more over time. That alone gives me a good incentive to have some WGR.

2. Retail is Here
It is quite clear that retail investors are starting to come into the space again who will want to get "rich quick" speculating on lower cap coins since Bitcoin and others already are 'expensive'. It's the classic phase where altcoins pump and perform better compared to bitcoin regardless of any fundamentals. Wagerr certainly is something that fits this profile since it's 'cheap' at around 0.10$ currently even though gambling is not fitting the dominating Defi & NFT narrative.

WGR reached as high as 0.9$ early 2017 and now after a long period of going sideways showed its first signs of life again with a relatively small pump from 0.035$ to 0.120$ followed by a pullback the start of another push higher

3. Market Cap
As a Sports Bettor, I'm always looking for value which honestly is kind of hard in the crypto space right now where most coins fully trade based on 'future potential' instead of the fundamental value they have today. The market cap of WGR currently with all coins in circulation (the circulating supply both has the potential to go up or down) is only around 22 Million Dollar which is peanuts in the crypto space seeing how all the top 400 coins have a 100 Million+ market cap.

It takes 25000 WGR (2600$) to run a masternode with 2651 of them online which represents 30% of the circulating supply. More of the supply is also locked up in the Uniswap & Pancakeswap pools making the amount that can actually be used for betting limited.

4. More Easy/Cheap Ways To Buy
Even though I am not a fan of Binance Chain, it does offer an 'easy' alternative for those who are a bit more educated in the crypto space to buy WGR without having to go to obscure exchanges or pay crazy gas fees on Uniwap. It certainly was a

Anyone with a Binance account and Metamask properly set up (see Guide) can add the token address 0xdbf8265b1d5244a13424f13977723acf5395eab2 in pancakeswap.finance or cubdefi.com to swap coins that can be withdrawn from Binance to the Binance Smart Chain pretty quickly and cheaply. It certaily was one of the hurdles that helped myself getting over this barrier to buy some extra.

5. Wagerr Survived the Bear Market
They didn't only survive the bear market but the team kept building their project adding new features along the way. The fact that they added the option to bet parlays will be a big factor to burn WGR since those increase the edge of the house while clueless gamblers just can't resist them as they give that feeling of 'almost winning' which is very similar to winning and very addictive.

6. Increasing Volumes & Token Burns
The token burn is quite a tricky one as winning bets mint new tokens while losing bets burn them making the entire project a bit vulnerable to sharp money. I have been tracking the numbers in my Monthly report of Sports Betting Blockchain projects and the numbers recently have shown to go in the right direction as 4.6 Million WGR has been burned in the last 3 months with a total monthly betting volume of 1.4 Million Dollar which seems to be on the rise.

All these factors make me quite comfortable to add a relatively small bit to my position getting myself closer to the point where I have enough to run a masternode if I wanted to. Anything below 0.15$ right now looks like a good risk/reward proposition to me. I don't think by any means that Wagerr will be the one revolutionizing the sports betting industry though with the potential in price increase mostly coming from speculators/users pushing up the price in the current market environment.

Warning: High Risk

These kinds of low cap odds come with major risks as they probably can get shut down by regulators at any given time if they wanted to. I'm just sharing in this post what I personally am doing and I'm fully ok losing everything on this if it were to happen. So don't listen to me, do your own research and take responsibility in case you buy WGR or any other coin for all I care!

Previous Project I covered and invested in...