Bet Against Your Friends with New Social Gambling App

YouBetMe is a new social gambling platform that allows users to place bets against their friends.

Best of all, according to its founder, Jason Neubauer, it is completely legal.

At the recent DEMO conference in Silicon Valley, Neubauer said that the possible problems with the service are just a sign that is a demand for it, “where there’s red flags there’s opportunity”. He went on to say that peer-to-peer betting is actually legal and “in no way, shape, or form are we doing anything other than letting people have fun.”

Normally gambling sites host the bets and generate revenue from losses. However, YouBetMe is different; it is instead exploring the social aspects of betting.

Neubauer said that YouBetMe is aiming to be “the thought leaders in the space of social betting. We just want the right people to come and help us make a better product and just want to keep working on the vision.”

YouBetMe has so far secured $640,000 in seed-level funding from two private angel investors and the venture capital fund OmegaGE.

At present Android and iOS apps are being developed and afterwards Neubauer wants to reach licensing agreements with brands such as Coca Cola so users can place bets are receive gift certificates from the company.