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Non-Tech : Gambling, The Next Great Internet Industry

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To: i-node who wrote (795)	5/22/2002 8:17:01 AM
From: Herc	of 827

Some credit card companies are getting out to the internet casino business because the legality of gambling debt hasn't been firmly established. And some online problem gamblers have hired lawyers to weasel out of their debt. But any industry as unscrupulous as credit cards who try to get clients hooked on debt and then raise their interest rates will certainly welcome internet gambling debt once internet gambling's legality is better established. Now this... <<CURACAO – As reported by Leisure World Asia: “Casino Village on Net, a new gaming software company, has developed the world’s first peer-to-peer gaming platform under the banner 'BeTheDealer' that for the first time allows players to enjoy 'house' odds. ”This is the first time a casino company has been able to provide players with the ability to play as the house for games such as blackjack and roulette. As a dealer, players can both increase their odds of winning and share the excitement of being a dealer. Players must accumulate sufficient credit points to become the dealer. ”The company has signed on leading internet websites Lycos and LastMinute in the United Kingdom. These agreements, as well as others in the pipeline mediated by Ariadne Capital in Europe, helps position Casino Village on Net to capture a share of the growing online gaming market that market researcher Datamonitor estimates will grow to US$5 billion in 2004 from US$50 million in 1999 in Europe. ”…The deal engineered by Ariadne Capital enables Lycos to be among the first to offer BeTheDealer Casino and provide blackjack, roulette, video poker and slot machines in which players can opt to become the house and play against other players. ”Players who opt for the real thing must bankroll the games themselves against other live players with whom the system randomly matches them. Would-be dealers first must earn a minimum number of house credits as a player and also must have a minimum balance in their online accounts before they can switch sides of the table. A low stakes blackjack dealer could get started with as little as £50 (US$75). ”…Peer-to-peer technologies such as those employed by Napster and eBay are unique in their ability to virally market themselves to a large number of users. Similar to eBay, BeTheDealer charges as commission a fraction of the value transacted through its system thereby rapidly growing revenue…”>>

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