Thursday September 13, 2012 : BUDDYBET LEVERAGES SOCIALISING AND FUN TO COMPETE AS A BETTING EXCHANGE
An American in Prague talks about how his company is different
US entrepreneur and long-time Prague resident Jarrod Epps discussed his newly launched Eastern European-based online betting exchange, BuddyBet, this week with the Prague Post, explaining why the startup differs from potential competitors.
"We believe other websites are missing the point for a lot of people," Epps said. "People don't go to Vegas and play blackjack all night because they're concerned about the odds. They do it because it's social. You sit at the table, you have a lot of fun, and it's not that confusing. Those are the people we want."
Epps says his operation, which takes a small cut on bets placed, leverages a player need for a more social betting environment, providing an opportunity for punters to bet against each other on a wide range of outcomes.
Launched at the end of August, BuddyBet primarily targets the United Kingdom and Ireland, but has ambitions to extend its activities to other countries where online gambling and betting exchanges are permitted.
The enterprise has applied for an Isle of Man licence and hopes to go to full-cash betting by the end of this year.
To promote a sense of community, BuddyBet allows players to bet against each other, including prop bets, and post vids, photographs and text messages. Bets can be real-money or through virtual BuddyBucks, which players can earn on the site – a common practice in social gaming, along with winning prizes.