• Betcha’s Bold Platform stands on the Edge of Gambling

    28 June 2007

    Newspaper

    Betcha is a platform for peer to peer betting where they allow users to bet on four markets; News, Business & Finance, Arts & Entertainment and Sports. The founder, Nick Jenkins, is like many founders with a brilliant idea, and may be a little crazy to think that Betcha has no worries about two related things; it is based in Seattle, WA and all debts are on the honor system.

    Nick Jenkins says that Betcha is a third way to gamble and an EBay site for bets. The honor system mentioned means that betting is honor-based with no obligation to pay when you lose.

    With that in mind, if you do not have to pay for your loss, you are not technically gambling, thus will not have the legal problems as where gambling is involved. By the end of the day you always have a way to option-out of your bet, but, with not paying a loss the feed-back will give you a bad reputation.

    Your reputation is scored as a rating at Betcha, like the banks and credit-card companies, where if you option-out of your bet, your rating will drop, making it harder for you to find someone to bet with. If your rating points are low on the reputation scale you may have to find someone with the same low rating as yourself, to get your reputation points back up into a higher reputable betting area.

    The reason Betcha does not run a-foul to the gambling laws is because they give the gambler an option-out to not pay-off their losses. Betcha is not afraid of the Blue Laws set in Washington State because they do not have payment processing that would make it illegal. They also do not bend the rules of the Federal Wire Act because there is no forced wagering involved.

    Get the live/pre-recorded full story on the Podcast, with your host JTodd from APCW.

    Nick Jenkins, although he does not like gambling, is doing a little side bet of his own, where if he is taken to the courts over his starting a betting site, he could face some time. Come to think of it, that is not as bad as the Unlawful Internet Gambling Enforcement Act slipped in by a politician.

    Related News

    • Another optibet player won whooping 7.231.507 with mega moolah

      Slot Winners

      Another Optibet Player Wins Whopping €7,231,507 with Mega MoolahIvan Stefanovic30 August 2021

      Optibet platform and Microgaming's legendary online slots Mega Moolah established themselves as a powerful duo as they gave birth to their second millionaire. An anonymous gambler at an online casino owned by Enlabs took a mega jackpot of whopping €7,231,507.69 with the famous online slot Mega Moolah 6. The lucky player became the 101st millionaire online via the progressive jackpot from the online gambling leader.

      Read full article
    • Design works gaming signed a deal with white hat gaming

      Gambling News

      Design Works Gaming Signs a Deal with White Hat GamingIvan Stefanovic04 August 2021

      Design Works Gaming (DWG) has signed a content distribution deal with White Hat Gaming. The partnership will "significantly" expand the traffic on the White Hat platform. According to the deal, the entire gaming library from DWG will be available on the platform. The deal follows a collaboration with Kindred Group and now White Hat will also launch several games soon, including Hold Your Horses and Diamonds, Sapphires and Rubies 4Play will be available through the platform.

      Read full article
    • Pragmatic play supplies bet victor with bingo solutions

      Gambling News

      Pragmatic Play Supplies BetVictor with Bingo SolutionsIvan Stefanovic11 March 2021

      Pragmatic Play, an online casino provider, has entered into an agreement to deliver its bingo game offering to United Kingdom-based casino operator, BetVictor. With a live launch in the first quarter, the entire suite of successful bingo content will appear on the BetVictor platform, including the groundbreaking Reels Room and Bingo Blast.

      Read full article