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Roulette Betting Exchange

Wednesday October 15,2014 : A ROULETTE BETTING EXCHANGE?
 
George Georgiopoulos and Gianni Galanis have a new approach to online gambling.
 
By combining a no-house-edge roulette and the broad P2P betting exchange concept in an online format, British entrepreneurs George Georgiopoulos and Gianni Galanis claim they're onto a winning proposition, reports the magazine Quartz.
 
In roulette the broad odds of the ball landing on an odd number are equal to the odds of it landing on an even number, but the addition of a 0, or even a 00, can give the house a small but statistically important advantage, reports Quartz.
 
Georgiopoulos, who is an IT expert, intends to eschew that advantage in his new online casino to be titled bet.tra.de, in favour of taking a small cut from person-to-person action between the punters who will flock to his website to play roulette where the house does not hold an edge, he hopes.
 
The duo plan to showcase their idea at the Excellence in Gaming conference in Berlin, detailing how their innovative approach can generate fun, and of course profits for them.
 
“We don’t have the zero,” Georgiopoulos told the magazine, categorising the action as P2P betting and explaining that bet.tra.de aims to connect someone who wants to bet on red with somebody who wants to bet on black.
 
He plans to make a profit by offering his players what is essentially a secondary market to trade bets.
 
For example, if a player changes his mind halfway through a roulette or slot spin, he or she can sell the bet or the risk on to another gambler at a lower rate...and it is on those small transactions that Georgiopoulos will take a small cut, a la the betting exchange business model.
 
Bet.tra.de will only offer games of chance, eschewing any sports, poker or other skilled games betting.  Once the project is a proven success, he intends to market and license the idea to online gambling companies, creating a B2B business stream for his enterprise as well.
 
Shrugging off pessimistic views that his idea will not fly, Georgiopoulos claims that the idea will appeal to online gambling site operators as a low-risk, low-cost and innovative concept....once he can show that the format works.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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