Tasko Pal
Heron Corporation
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Posted - 2008.06.02 16:27:00 -
[1]
Edited by: Tasko Pal on 02/06/2008 16:33:11
 Originally by: Kazuo Ishiguro
Originally by: Shar Tegral
Originally by: Vhaluus
would you care to elaborate? the last thing I want to do is get myself or anyone else involved in trouble.
I'm told that there is already a service for betting isk on out of game events/sports. However myself I think that the clauses 9, 10, 11 might be too close to this issue. Mind you I'm very very anal when it comes down to the EULA.
In my view, 9 has little to no bearing on the issue, unless he spams people with adverts in chat channels or via evemail or (excessively) on the forums. 10 is OK, since the service provided is fundamentally in-game and is paid for with in-game currency. 11 is also almost certainly ok, since the service provided is directly related to eve - a facility for betting with virtual currency.
Also, the fact http://www.rls-eve.com/ has already been operating for some time, and that people have been running in-game lotteries based on various real-life national lottery draws for as long as I've been playing, strongly suggests that the EULA isn't going to be a problem.
You're not directly competing with rls, since you're offering quite a different sort of bet - I'd suggest that you consider acting as a more general betting exchange, possibly using EBANK affiliate accounts to hold isk.
I too am keen on betting markets. Too bad I don't have the RL time otherwise I'd probably be working on exactly this. Something that bothers me here is that it's not clear why you need to IPO or how much isk you plan to raise. A good bookie doesn't need a lot of capital. The trick is to shuffle the risk to other bettors. In fact, using real money market data sounds a moderately bad idea since you get exposed to more risk than a more neutral bookie would get. It seems better just to get the betting service started and worry about making more isk after you have established the business.
[added stuff because I pressed "post" too soon,]
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Tasko Pal
Heron Corporation
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Posted - 2008.06.04 17:52:00 -
[2]
Originally by: Vhaluus
I need the IPO because a good bookie not only needs starting funds, they do have to have resilience. No matter how good you think you are at predicting results you HAVE to be prepared to occasionally suffer a loss for a small period of time and in all honesty I do not have the funds for this.
A good bookie doesn't have to predict results. They can pass on any risk to the bettors. That's the point I was making. Sure if you have the funds, you can dip in and take some risks using knowledge of outside markets, but you don't have to. The isk to cover the 1 in 100 longshots can be obtained from the 99 in 100 "sure" bets.
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