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

Will limiting Steam services to accounts that have spent at least $5 eliminate spammers?:

Shout box

You're not permitted to post shouts.
MattsworknameOff topic, but, who heres playing Bloodborne, and if so, is it mercillesly murdering you every chance it gets?04/25/2015 - 7:35am
Matthew WilsonI think its a good article, and devs can take some lessons from life is strange.04/24/2015 - 10:24pm
Andrew EisenI tinyURL'd it. The world is safe!04/24/2015 - 10:23pm
Matthew Wilson@AE my bad there is nothing I can do about that.04/24/2015 - 10:21pm
Andrew EisenLooks like the spoiler is right there in the URL.04/24/2015 - 10:20pm
Matthew Wilsonhttp://tinyurl.com/ok9pf6b a interesting opinion piece on the life is strange episode 2, and a dark event that happens in it. full warning major spoilers.04/24/2015 - 10:11pm
Matthew Wilson@mech no just she, nor her co workers have not. she never said it is not real.04/24/2015 - 8:58pm
MechaCrashWas she saying "I haven't experienced it," or "I haven't experienced it therefore it does not exist"?04/24/2015 - 8:31pm
ZippyDSMleeoy the skyrim paid mod thing is going over well. My 2 lints, I would not mind if Skyrim had a full SDK and not a crappy lil editor....04/24/2015 - 6:46pm
Andrew EisenWell, that is indeed crappy and nonsensical.04/24/2015 - 3:45pm
Matthew Wilsonshe got attacked for saying that she personaly has not experienced the harassment some other female devs have, and she got acused of defending GG and ignoring harassment. she ended up getting dog piled because of it.04/24/2015 - 3:43pm
Andrew EisenFine but do you recall ANY details at all?04/24/2015 - 3:38pm
Matthew Wilsonit was several weeks ago now, and I will admit to not saving it.04/24/2015 - 3:36pm
Andrew EisenAttacked HOW and by WHOM for not writing off WHO as evil? Do you have a link or anything?04/24/2015 - 3:31pm
Matthew Wilsonthat is the whole point she was not attacked for saying anything. she was attacked for being willing to debate in the first place, and not just write them off as evil.04/24/2015 - 3:28pm
Andrew EisenI know there's not a lot of room in the Shout box but goodness you're being vague.04/24/2015 - 3:26pm
Andrew EisenGreat, but that STILL doesn't tell me what she said, why she was attacked (or what the attack was) or what "standard line" she's following. Details, man. Details!04/24/2015 - 3:25pm
Andrew EisenOr what the heck Nina White (someone else I've never heard of) is actually referring to.04/24/2015 - 3:24pm
Matthew Wilson@AE she is a game dev. she used to do stuff with hormanix and now works with https://outact.net/#!/?page_id=2 she will often engage and debate both side.04/24/2015 - 3:23pm
Andrew Eisen...following.04/24/2015 - 3:23pm
 

Be Heard - Contact Your Politician