Tuesday March 12,2013 : YOUBETME OUT OF BETA
Prop betting iOS app does not use real money
Jason Neubauer, the co-founder and CEO of YouBetMe is forging ahead with his plans to launch a prop betting iOS app for social gambling next month, and has taken the offering out of beta testing by around five thousand enthusiastic supporters.
Neubauer is confident that he can sidestep legal problems in the United States by avoiding real-money action between people who use his site to bet against each other.
Instead, the app focuses on creating an entertaining brand of social gambling, with the financial returns coming from advertising and sponsorships.
The entrepreneur says he has been careful to toe the legal line since launching YouBetMe in beta test mode last October, emphasising the social nature of the offering and the absence of real-money transactions.
YouBetMe also offers a databased service which tells its users what other users are betting on in their region.