P2P Betting Looking Better
We've written before about the P2P Gaming area with BetBug and GameAccount. Similar to poker, players bet directly against one another in P2P Gaming. The gaming service operator does not take the bet, which eliminates most legal concerns. The operator just takes a cut of the action.
We're now seeing a replay of Napster 1.0 era centralized service litigation with a critical difference. Illegal gambling, unlike file sharing, is a criminal offense.
The CEO of BetOnSports was arrested a few months ago. Add Sportingbet to the list. Louisiana state police issued a warrant that was used by the Port Authority of New York and New Jersey to arrest Sportingbet Chairman Peter Dicks at Kennedy Airport. Sportingbet is one of the biggest online gambling companies in the world with annual revenues of $193 million, two-thirds of it from the U.S.
P2P Betting is looking better every day as the only choice for gaming companies legally seeking U.S. customers. My company RazorPop has a project in this area.
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