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Sportsbetting Legal Tightrope
The new Los Gatos, California-based betting website Bet Against Me.com seems to be walking a US legal tightrope with a mix of betting exchange and the "private club" concept favoured by several American online poker sites like WPT Club recently.
The free site encourages players to bet against each other in order to legally win large cash prizes, a company spokesman said this week.
"For years now, [US] sports fans have been turned away from online sports betting due to legal issues, security
concerns and the danger of losing money," a statement from the company claimed. "With the launch of Bet Against Me.com, this will all change."
The new sports betting site allows bettors to win large cash prizes without risking a cent of their own money - circumventing US sportsbetting bans. Players create a new account at the website, receiving $10 000 of fictional play money in their account at the beginning of each week. Throughout the week that follows, players attempt to increase their bankroll by betting against the spread on real sports events. Depending on the season, sports will include football, baseball, basketball, and hockey.
At the end of the week the player who has accumulated the most fictional play money in their account by winning against the spread on their bets will receive the weekly prize money in real cash. Rather than playing against the house, players compete against the other players.
There will also be opportunities for daily and grand prizes. The Bet Against Me.com social network page allows users to add friends, and see what other players are betting on.
"Since there's no house to pay, there's no juice to spread around and no fees to be paid. Everything is 100 percent free and legal in the US!" the company claims, begging the question, what's in it for Bet Against Me.com? Presumably building community traffic and attracting advertising revenues?
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Gambling News :
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
NYX Gaming Group Expanding in Italy -
NYX Gaming Group says its continues to bridge the gap between online and land-based operators as it announced a new licensing deal in the Italian market.
Interwetten Q3 2016 Report -
In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.
Evolution Gaming Q3 2016 Report -
Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.
Dragonz Slot Launches -
#Dragonz The creatures in this 243 ways to win game engage with play during the free spins round, triggered by three or more scatters on the reels, and each character leads four different free spins rounds.
Mecca Launch Instant Win Games -
IWG has provided instant win content to lotteries for the past 15 years, amassing a portfolio of over 250 games. Its deal with Mecca signifies a move into the wider online gaming industry, servicing commercial brands and platforms.
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