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Online Betting to Hit the Internet’s Social Sphere

The UK online betting industry leader, Betfair, has signed an agreement with Swedish online gaming provider, Jadestone, in order to develop together a new social game called Taikai. Taikai will represent a new venture in the online betting industry which the companies have come to call ‘tournament betting’.

Taikai will combine the person-to-person online betting known well to Betfair with the social internet functions that were first introduced by sites such as Facebook and MySpace. In this sense, it will strongly represent face-to-face gambling situations. Taikai is being termed as competition betting primarily because it will allow friends on the site to engage in online betting competition against one another. This will include being able to test each other’s sports knowledge in order to win cash.

In order to play Taikai, players must select a tournament from the given selection of sports and their leagues. Once chosen, players must place a bet and pay the buy-in, which together amalgamate with others to create a pot. The player who wins is he who accumulates the most profit at the site by the time the tournament has come to a close.

Online betting of this kind will also closely resemble online casino gambling, as there will be a range of functions available to players that are common to the online casino, among them: avatar customization, bet reviews, online banter, and fun and real money mode.

Betfair directors believe the product is perfect for all those who reckon they know sports, and want to win easy money by competing against like-minded friends.

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