07/06/2002
New 1-On-1 wagering system, illegal in U.S.
The Internet gambling scene welcomes all new wagering system, launched two days ago by the Cambridge online gaming company: WagerCity. The system is based on interaction between gamblers, such as Napster (the known mp3 exchange software). This means that there is no "house" anymore, and all bets are now placed by gamblers against each other.
It is expected that the hottest games are about to be much hotter. What can be more fun than watching your team wins? You got it - winning real money from the opposing team's fans! It's real, and it's here. Although built for World Cup Soccer, looks like WagerCity is here to stay. Grand Virtual Inc. hopes the system will prove itself in order to license its' software to gaming companies and casinos.
The legal issue makes headlines. While Grand Virtual Inc. expects enormous profits in the near future, it won't be coming from the U.S. market. In U.S., few exceptions aside, online gambling is illegal. While Grand virtual Inc. says it will make every effort to prevent illegal use of WagerCity, some skeptics point out that the system does not have any tool to bar Americans from logging in. Grand Virtual Inc. declared the system has technological defenses good enough to bust 99.99 percent of illegal enters.
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