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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?
Gambling News :
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
Huge Caribbean Hold’Em hit at Bovada Casino -
A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.
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