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. 

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
MattsworknameYeah, i got started and then made it through t the first few misions anthen blood borne05/23/2015 - 10:13pm
Goth_SkunkWhich one, Dragon Age?05/23/2015 - 8:20pm
Wonderkarpalso waiting patiently for Batman.05/23/2015 - 7:36pm
MattsworknameIn still trying ot beat that game the first time. Freaking game has so much side questing05/23/2015 - 7:34pm
Goth_SkunkPlaying a third and probably final playthrough of Dragon Age: Inquisition. Once that's done, I'll move on to AC: Unity, most likely, then get caught up on A-list games I have yet to play, like Murdered: Soul Suspect and Shadows of Mordor.05/23/2015 - 6:33pm
MattsworknameIf you own a vita and like monster hunter, but dont like the bs filler that goes with it. Try tokiden kiwmai05/23/2015 - 6:11pm
Matthew Wilsonaparently their servers got crushed, but I dont see the game selling well. Nintendo fans tend not to be fans of competitive fps05/23/2015 - 5:48pm
MattsworknameSPlatton looks intersting, Love the are style, gonna give the game a try with the upcoming test fire05/23/2015 - 4:39pm
PHX Corp@Technogeek, I'm returning for one more Run with the Global testfire05/23/2015 - 3:41pm
WonderkarpI'm bouncing all over the place but right now I'd say I'm playing Super Mario 64 trying to max out the stars. 2 worlds and 2 secret stars to go05/23/2015 - 1:12pm
TechnogeekReminder: Splatoon Global Testfire returns this afternoon/evening.05/23/2015 - 12:45pm
Andrew EisenA bit busy with my 30 Days of Netflix project but I did play through the first world of New Super Mario Bros. 2 at a sushi restaurant last night.05/23/2015 - 10:59am
MattsworknameSo, whats everyone playing? Im still knee deep in bloodborne, but finaly beat Rom the spider05/23/2015 - 7:20am
Andrew EisenWe're planning on doing the podcast Saturday evening, as usual.05/23/2015 - 12:32am
Matthew Wilsonmy bad was doing it from my phone.05/22/2015 - 11:34pm
Goth_SkunkMatthew, that's a PDF. Looks like a lobbying report. What's that got to do with The Witcher 3? EDIT: Thanks Mecha.05/22/2015 - 11:33pm
MechaCrashI think this is the link you meant to post: http://www.gamespot.com/videos/the-point-the-witcher-3-a-new-benchmark-in-player-/2300-6424964/05/22/2015 - 11:31pm
Matthew WilsonThe Point - The Witcher 3: A New Benchmark in Player Choice http://www.gamespot.com/videos/the-point-the-witcher-3-a-new-benchmark-in-player-/2300-6424964/ fixed05/22/2015 - 10:37pm
Matthew WilsonI assume no show this weekend?05/22/2015 - 10:27pm
TechnogeekKaylaKaze: I fail to see how "that key was obtained via theft by deception" isn't fradulent.05/22/2015 - 8:46pm
 

Be Heard - Contact Your Politician