Legal Sportsbook Up and Running in United States
A new online sportsbook, centsports.com which was established by college students and based in Texas, is operating within the Untied States in an entirely legal manner. The method by which the sportsbook wagering is managed is what has allowed it to avoid anti gambling legislations, and it is the first sportsbook of its kind to be ever be released.
The sportsbook works by actually giving registered members betting money. Each player starts with an initial ten cents that can be used to wager on all the sporting events listed. When a player wins, the money can be kept, and when a player loses, the money is replaced. This indeed sounds impossible, yet the money provided is only “play money”. When a player wins enough times, he/she can convert this play money into real cash or a range of prizes, such as official gear from the sportsbook. So, despite that most of the betting done is for fun, skilled bettors can actually walk away with real money.
There are three main elements to the site which allow it to avoid legal persecution; the first is that players do not gamble with their own money. The second is that it requires no kind of entry fee or personal information in order to play. And lastly, the wagering allowed cannot really be considered chance, so overall, there is no need for “consideration” on behalf of the sportsbook operators. Chuck Humphrey, a gaming law specialist, has pronounced that everything on the site seems ‘kosher’.