Playhem Finds an Online Gambling Loophole

September 21, 2011 -

Online gambling for real money is illegal, but a loophole manipulated to great effect by a new company called Playhem makes it perfectly legal. The trick being manipulated by the New York-based start-up is that it allows its users to place wagers on themselves as they compete against each other for cash or prizes.

Playhem co-founder Ryan DeSanto says what Playhem is doing is legal, except in about a dozen states, including Arkansas, Iowa, Maryland, South Carolina, Illinois, and Vermont. In the states where it’s not legal, people can still play, sans the cash. Players purchase credits wager what they want on themselves, and then redeem what they win for cash and prizes.

While DeSanto says that users could 'technically' wager real-world cash, he said that his company removed it from the service because people liked virtual currency more. It's also a better fit with Playhem's partners, publishers and media companies, says DeSanto.

The site went live this week, after an extensive beta test that began in February. Right now players can play select console games such as Tiger Woods, FIFA, or Madden, or online PC games such as Blizzard's StarCraft. The technology is also capable of supporting big professional tournaments. To that end, it has partnered with IGN Entertainment and Caesars Entertainment to bring pro gaming leagues to Caesars casinos. Playhem will manage the qualifying rounds that will be played online. Finalists will then head to Atlantic City in October.

Source: AllThingsD


 
Forgot your password?
Username :
Password :

Poll

How do you feel about Amazon buying Twitch?:

Shout box

You're not permitted to post shouts.
Andrew EisenFalcon SNUB!!!08/27/2014 - 11:28am
E. Zachary KnightAh. Didn't realize Captain Falcon was from F-Zero. Perhaps they didn't want too much SSB cross over characters.08/27/2014 - 10:30am
ZenEZK they could easily just put Captain Falcon in (they are using his car anyways) and he would be the most recognizable character from the series for the anime, games, and Smash Bros.08/27/2014 - 9:42am
ZenMasked there are also the two from Animal Crossing that are going to be in it. I am wondering what they will do for the Excitebike level they gave a peek at.08/27/2014 - 9:41am
E. Zachary KnightDoes F-Zero really have a character that is recognizable that could be used? I would think the cars and tracks would be more recognizable.08/27/2014 - 8:55am
MaskedPixelantehttp://www.joystiq.com/2014/08/27/rockstar-lohans-gta-5-lawsuit-just-jonas-ing-for-publicity/ Rockstar releases the biggest "no duh" statement in the universe.08/27/2014 - 8:07am
MaskedPixelanteI'm just saying, they're giving us an F-Zero kart and an F-Zero track, but their crossover representative is Link?08/27/2014 - 8:00am
ZenMasked, not really sure what your are talking about lol. They will be giving a total of 6 characters, 8 vehicles, and 16 tracks...plus the Yoshi and Shy Guy sets if you get both packs. Not bad for about the price of a single CoD map pack lol.08/27/2014 - 7:02am
MaskedPixelanteSee the flaw here. Blue Falcon car, F-Zero themed track, and Link as a playable character.08/27/2014 - 6:46am
IanCNext Level Games would like to say hi.08/27/2014 - 6:32am
Uncharted NEShttp://kotaku.com/zelda-f-zero-coming-to-mario-kart-8-162715073008/26/2014 - 11:17pm
Uncharted NESAlso $8 for each or $12 for both.08/26/2014 - 11:16pm
Uncharted NESZelda, Animal Crossing Coming To Mario Kart 8.08/26/2014 - 11:15pm
Andrew EisenNintendo has worked with plenty of western or non-Japan devs. It partners more often with devs in its own country but I wouldn't say it doesn't like western devs.08/26/2014 - 7:36pm
Matthew WilsonOr... give it to the studio that just formed from the old Darksiders guys. yeah I know outside of Retro they do not like working with western devs.08/26/2014 - 6:46pm
MechaTama31They should have just handed the Zelda reins to the team responsible for Okami, because they out-Zelda-ed Zelda.08/26/2014 - 6:08pm
Uncharted NESI miss Nintendo-Capcom Zelda games. ALTTP on the GBA was my first real time really playing through that game. And you know what, it was fun. :P08/26/2014 - 5:42pm
IanC3 and a half amazing games, since Capcom did the A Link to the Past port, and the Four Swords game that was on the cart. So thats 4 games then, id guess.08/26/2014 - 5:03pm
MaskedPixelanteDepends on who's teaming up with what. Zelda plus Capcom gave us three amazing games. Zelda plus Phillips gave us Youtube Poop.08/26/2014 - 3:25pm
E. Zachary KnightNintendo has had a fairly decent track record with teaming up with external development houses to make games based on their IP, at least recently. I hope they keep it up.08/26/2014 - 3:14pm
 

Be Heard - Contact Your Politician