Gaming Service Aims to Allow Wagering on Online Matches

June 8, 2010 -

If you already rage when losing online game matches (with nothing really tangible on the line), imagine the way you might feel if the outcome of the bout cost you real cash.

The Ottawa Citizen details the business strategy of Titan Gaming Inc.—a company backed by $1.0 million in venture capital—that plans to allow gamers to wager on the outcome of online contests. Native Ottawan Francisco Diaz-Mitoma created the system's platform, which will allow participants in an online contest to pony up their own money, before a game starts, in order to create the prize pool. Titan would make its living by taking a cut of the winnings.

Diaz-Mitoma moved to India in order for cheap assistance in developing the technology. The entrepreneur is hedging his bet that gambling on games based on skill is legal, which Royal Mounted Police Constable Bill Casey seemed to agree, stating that there doesn’t seem to be any laws prohibiting wagering on a game of skill, like video golf for example, over the Internet.

Casey indicated, however, that the company could run afoul of individual provinces, which may not allow such activity or might require Titan to be licensed.

A notice on the Titan website claims, “Yes, skill gaming is legal in most of the United States, Europe and Asia,” and that “Titan's proprietary platform automatically deals with legal and jurisdiction issues so that developers can focus on building an entertaining game experience.”

Titan also boasts ex-Microsoft executive John Maffei as its Chief Executive Officer. Maffei’s chief role at Microsoft was licensing video content for use with Xbox Live.

While eventually reaching Xbox Live, PlayStation Network and Wii online users is a future goal for Titan, Diaz-Mitoma said that no deals were currently in place with any of the console manufacturers.


Comments

Re: Gaming Service Aims to Allow Wagering on Online Matches

I'll only say this once, don't place bets on me, I'm too much of a risk.

Re: Gaming Service Aims to Allow Wagering on Online Matches

I really can't see this happening on any of the consoles- even if it is legal and something players want, the PR nightmare of such a thing would be too much.  Not only would the media be full of headlines like "a videogame that lets kids gamble at home", but also stories of kids who rack up immense monetary losses their parents were oblivious to. 

Plus, it would make Street Fighter IV matches filled with even more fireball spamming and zoning. 

 
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Andrew EisenSleaker - Uh, yeah. Obviously.09/01/2014 - 8:20pm
Sleaker@AE - exclusives do not a console business make.09/01/2014 - 8:03pm
Papa MidnightI find it disappointing that, despite the presence of a snopes article and multiple articles countering it, people are still spreading a fake news story about a "SWATter" being sentenced to X (because the number seems to keep changing) years in prison.09/01/2014 - 5:08pm
Papa MidnightAnd resulting in PC gaming continuing to be held back by developer habits09/01/2014 - 5:07pm
Papa MidnightI find it disappointing that the current gen of consoles is representative of 2009-2010 in PC gaming, and will be the bar by which games are released over the next 8 years - resulting in more years of poor PC ports (if they're ever ported)09/01/2014 - 5:06pm
Andrew EisenMeanwhile, 6 of Wii U's top 12 are exclusive: Mario 3D World, Nintendo Land, Pikmin 3, Mario Kart 8, Wonderful 101, and ZombiU. (Wind Waker HD is on the list too but I didn't count it.)09/01/2014 - 4:36pm
Andrew EisenLikewise, only two of Xbox One's top 12 are exclusive: Dead Rising 3 and Ryse: Son of Rome (if you ignore a PC release later this year).09/01/2014 - 4:34pm
Andrew EisenNot to disrespect the current gen of consoles but I find it telling that of the "12 Best Games For The PS4" (per Kotaku), only two are exclusive to the system: Infamous: Second Son and Resogun.09/01/2014 - 4:30pm
MaskedPixelantehttp://www.joystiq.com/2014/09/01/beyond-two-souls-ps4-trophies-emerge-directors-cut-reported/ MMM MMM, nothing quire like reheated last gen games to make you appreciate the 400 bucks you spent on a new console.09/01/2014 - 4:24pm
Andrew EisenThat's actually a super depressing thought, that a bunch of retweeters are taking that pic as an illustration of the actual issue instead of an example of a complete misunderstanding of it.09/01/2014 - 4:20pm
Andrew EisenObviously, the picture was created by someone who doesn't understand what the issue actually is (or, possibly, someone trying to satire said misunderstanding).09/01/2014 - 4:10pm
Papa MidnightPeople fear and attack what they do not understand.09/01/2014 - 4:04pm
Papa MidnightWell, let's not forget. Someone held their hand in a peace sign a few weeks ago and people started claiming it was a gang sign. Or a police chief displayed the hand signal of their fraternity and was accused of the same.09/01/2014 - 4:04pm
SleakerEither people don't understand that what the picture is saying is true, or the picture was created out of a misunderstanding of what sexism is.09/01/2014 - 3:52pm
Sleaker@AE ok yah that's where the kind of confusion I'm getting. Your tweet can be taken to mean two different things.09/01/2014 - 3:51pm
Andrew EisenSleaker - No. No, not even remotely. The pic attached to my tweet was not made by me; it's not a statement I'm making. It's an illustration of the complete misunderstanding of the issue my tweet is referring to.09/01/2014 - 3:13pm
Papa MidnightIn other news, Netflix states why it paid Comcast: http://money.cnn.com/2014/08/29/technology/netflix-comcast/index.html?hpt=hp_t209/01/2014 - 3:10pm
Papa MidnightAndrew Eisen: Sites like Tumblr make things seem much bigger than they are. A vocal extreme minority start complaining and things go as they do.09/01/2014 - 3:09pm
SleakerAre you trying saying that specific costumes are sexist simply by being included in the game?09/01/2014 - 3:03pm
Andrew EisenSleaker - Seems completely cut and dry to me (of course, I wrote it so that's not surprising). What about it do you find confusing?09/01/2014 - 2:25pm
 

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