ABSTRACT... 2 1. PROBLEM OVERVIEW... 3 2. WINHEREUM SOLUTIONS... 4 2.1. Winhereum Betting Platform... 4 2.1.1. Classic Bet... 5 Full Time Result... 6 Half Time Result... 6 Half Time / Full Time... 6 Handicap... 6 Under/Over (2.5)... 7 2.1.2. Peer to Peer... 7 2.1.3. Mobil Application... 8 2.2. Payment Solutions for Betting Industry Companies... 9 2.3. Winher Protocol... 10 2.4. Winher Wallet... 12 3. TOKEN SALE... 13 3.1. Token Distribution... 14 3.2. Use of Funds... 15 4. ROAD MAP... 16 5. CONCLUSION... 17 1
ABSTRACT Sports have been the hub of human activity since Roman times. Humans have always shown tendency towards more entertaining sports than less entertaining ones. Betting today has become much more than simply an entertainment industry. The gaming industry has demonstrated steady growth, with an annual turnover surpassing $3 trillion in volume but betting industry has lacked innovative ideas for some time and betting industry is plagued by multiple problems. The distributed ledger technology (blockchain) and digital tokens based on it are becoming the promising investment niche for the betting industry. Winhereum ecosystem will allow decreasing money transfer terms down to minutes, transaction expenditures and risks of mistakes almost down to zero, and volume of required documents down to minimal possible one. Online betting industry is plagued by multiple problems but with Winhereum we are creating a decentralized Betting Platform. Further to the Betting Platform, by virtual extension of our services, we create a payment solution to securely transfer your crypto currencies to traditional betting industry companies (bwin, bet365, betfair etc.) The integration of the blockchain is a logical step providing effective solutions to problems that have long plagued the industry. 2
1. PROBLEM OVERVIEW The betting industry has lacked innovative ideas for some time and betting industry is plagued by multiple problems. The estimated scale of the traditional sports betting market (including both legal and illegal bets, internationally) is in the trillions of USD. An estimated $400 billion dollars illegal bets are placed annually in the United States alone. China s illegal betting market is even more extensive. Betting companies operate under a shade of secrecy, not letting customers know how odds are created or how much money is poured in. Some even manipulate odds after a game starts. There is a lack of high fees and intermediaries, security, lack of privacy, extortionate fees and low returns and payment methods are outdated and regularly winning players are restricted or banned. Traditional sports betting in many locales is driven underground, leading to corruption, unfairness, and violence. All of these problems are a direct result of one simple fact: the current online betting market is highly centralized. Centralized companies are in charge of the markets, the outcomes, the odds, and even the funds of the players. At the same time, these companies are struggling with strict regulations, frozen assets, and high safety requirements. These factors alienate a significant number of potential bettors from taking part in such systems. Blockchain technology can provide a solution encompassing all the above features decentralization, unprecedented security against, fraud, hacking, transparency, and as much support/versatility as the designer chooses to incorporate. Winhereum offers this untapped market the opportunity to choose a safe, private, and accessible way to bet through decentralized blockchain technology. 3
2. WINHEREUM SOLUTIONS Winhereum ecosystem will eradicating all of these issues and change the current situation. With a decentralized blockchain solution we will allow decreasing money transfer terms down to minutes, transaction expenditures and risks of mistakes almost down to zero. However, even if Winhereum only captures a fraction of the trillion dollar market, the world will be a little safer and the mechanisms built into the Winhereum model will have a powerful and overwhelmingly positive effect on the Winhereum economy, and long term token value. 2.1. Winhereum Betting Platform We are creating a decentralized Betting Platform for and Winhereum will provide its users the unique opportunity to trade bets in two different types of markets. 4
2.1.1. Classic Bet On sports markets, the user can place a bet on the potential outcomes of the event and win if the predicted outcome occurs. The blockchain pays out winning bets that are confirmed by the WinherNet Protocol network, by minting coins for the payout. Losing bets systematically destroy coins, creating a balance over time. 5
Full Time Result A bet type which includes the result of the game or includes the team name who wins the game. Only one of the three options (Home side wins Draw Away side wins) will be eligible and wins. Half Time Result Bets will be settled depends on the result of the first half. Only one of the three options (Home Win Draw First Half Away Win) can be placed as bet and only one of them can win. Half Time / Full Time In order to win this bet, both first half and game result must be guessed correctly. Guess must be made to result not to score. Bet will be settled as lost if first half or game result guesses are wrong. Handicap Result of the bet will be determined with the goal amount counted as handicap added to the game s result. 6
Under/Over (2.5) Bets will be settled depending on total number of goals of both teams scored in regular time. If the game is abandoned but the total number of goals are matching with the placed bet, bets will be count as valid. If the game is abandoned and if the total number of goals are not matching with the placed bet, bets will be multiplied with 1.00 and will be refunded to user s account. *The rules and betting methods here apply to the demo system. The list of full rules will be announced on the web site after the platform is published. 2.1.2. Peer to Peer In the past, only betting against centralized companies and bookmakers was possible, but using blockchain we are able to provide sportsbook clients that operate with no human or business entity in the middle. On Winhereum every user can place bets without a middleman and decentralized peer-to-peer platform allows unlimited wagers for high rollers. Every betting transaction is user against user, no central bookmaker in place. Once the event is completed, the WinherNet Protocol records the performance result on the blockchain, triggering a payout to the winner. 7
. 2.1.3. Mobil Application Players can play their bets through the mobile app, play classic bets and peer to peer bets and have access to their games. 8
2.2. Payment Solutions for Betting Industry Companies In 2020, Players will be able to make payments with Winhereum from the betting industry through agreements with traditional betting companies. In this way, Winhereum is intended to be the common currency of the betting world. It is in the process of being matured yet and details will be announced later on the web site. 9
2.3. Winher Protocol The Winher Protocol provides the support mechanism for the wallet, ledgers, and transaction logs, and is an integral part of the gaming process and compliance regime. The Players Winher Wallet will also have the facility to show individual users transaction. 10
Activating an Masternode is the process by which an individual chooses to promote their node, engage in a 30 day contract of service and become a consensus agent. This contract ensures that owners have to maintain a level of service and agree to lock the collateralized coins in a simple smart contract that initiates a timed release and will be opensourced to facilitate community usage and expansion. The main function of the WinherNet Protocol is to ensure interoperability between all the platform s systems and components. 11
2.4. Winher Wallet Winhereum will create a desktop application with a dedicated wallet for the tokens. With Wallet, you can control your tokens, bet and send them to your exchange wallets to trade. The Winher Wallet is integrated into the Winher Protocol and able to be used on web, desktop and mobile devices. The actual movement of Winher Token between wallets is carried out by the Winher Protocol. In addition, Winher Token may be purchased on third-party joint exchanges and sent to an appropriate Winher Wallet through the Ethereum network. 12
3. TOKEN SALE Winher Token is the digital currency behind every betting transaction. A token sale is an innovative fundraising method based on blockchain technology. The token is based on the ERC20 Ethereum token standard, which has become a widely accepted and highly secured token implementation standard. For maximum transparency and participant protection, the sale will be regulated by a Smart Contract deployed on the Ethereum Blockchain. During the token sale, Winher tokens will be available in return for Ether (ETH) contributions, at a fixed conversion rate of 1 ETH = 10 000 Winher (plus any available bonus). Bether tokens will not be transferrable until the token sale has ended and the tokens are activated. 13
3.1. Token Distribution The amount of coins that are created for the Winher Protocol are all dependent on how many coins sell during the ICO. Because we do not know the total that will be sold, the ICO operates based off of percentages to ensure fairness for all. The ICO percentages are as follows. The total token supply 1 billion Winher tokens will be distributed as shown in the diagram below. 14
3.2. Use of Funds For Winhereum, the protection and security of the received funds is paramount. We are committed to building a superior betting platform and a successful, trustworthy company. Accordingly, we will invest all proceeds from the token sale into strategic and tactical initiatives to achieve this objective. Most of the funds raised will be used to develop the platform and market it to end users (players and relevant businesses). The funds that Winhereum raises during the crowdsale for the WGR token will be used according to the chart shown below. Winhereum will be open and transparent about all fund movements and sales to fund any portion of the plan. 15
4. ROAD MAP 16
5. CONCLUSION Our vision of Winhereum is to create a decentralized betting pay ecosystem with an integrated payment system for betting industry and in particular for Winhereum Platform to make sustainable development possible. We have the team, the competence, and the passion to turn this vision into reality. But journey to achieve this vision will not be easy, and the ultimate target is very ambitious. Our short- and medium-term objectives are to create the best social betting platform on the market. We believe in Winher Protocol as an engine for innovation and progress, and we believe in particular that it will have far more potential in the future than may currently be imaginable in many places. Winhereum offers not only a decentralized sports betting blockchain, but also a sustainable economy that produces, perhaps for the first time, a digital asset in a decentralized economy with the full functions of a currency. The Winhereum platform will provide a truly engaging and rewarding experience for players. Winhereum is more than just a coin. It s a technology poised to disrupt the entire sports betting industry and a revolution in the design of digital currency economies. If you are ready to be part of a great success story and support the growth of a unique project, please make sure to contribute to our upcoming token sale. 17
@winhereum @winhereum 18