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Kvander Godalming
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Posted - 2008.09.29 02:34:00 -
[1]
Hi all. I've been batting around for a few days now the idea of starting a sports betting firm on EVE and wanted to gauge interest on the MD, partly because I would almost certainly need some investments to help get it off the ground.
Simple point spread betting (using Vegas-generated spreads) with a 10% vig is the likeliest model. If it's a sport and point spreads are available, I could take bets on it, which means it could potentially be an all-year-round operation. Hell, I could even take bets on elections and such!
Some concerns:
(1) My own relative lack of capital, which amounts to at most half a billion, with only half of that amount liquid. Selling shares is not an option up front since I lack credibility. And on that topic....
(2) Well, I lack credibility. I post on MD occasionally and have invested, I think, wisely, but this would be my first serious venture. I can most likely mitigate this by running a small operation, either out of pocket or supplementing my own money with a loan, involving only a few bettors with limited bet sizes, for several weeks or months. Since I have nothing to hide, I would be happy to leave my operations during this time open to a full API audit. After some time has passed and my honesty/reputation has been sufficiently established, I could open the venture up to investment.
(3) Possible EULA issues. Nothing I've seen in the EULA or Rules of Conduct seem to forbid the existence of a betting firm, however.
(4) I have no idea of the extent to which sports betting would be popular among EVE players. Of course, that's part of the reason I'm here.
(5) Such a firm may already exist, although my own search has turned up nothing.
Nothing here should be taken as even the barest suggestion of a business plan. This is just some investigative groundwork for a largely undeveloped idea.
So, is there any interest in such a venture -- either investment in it (later on) or actual participation? Am I wrong that it would not violate EULA/Rules of Conduct? Am I behind the curve in this field? Any input would be much appreciated.
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Kazuo Ishiguro
House of Marbles
Zzz
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Posted - 2008.09.29 08:43:00 -
[2]
Ahem.
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Proton Power
Amarr
Tleilex Developments
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Posted - 2008.09.29 12:05:00 -
[3]
Speaking on my behalf NOT EBANK.
I would love a website that is basicly the same as a RL money gambling site but uses isk instead.
The issue with the one up above is it does not due all sports events, and from what I have seen its all pool based, I want an odds based bet on teams I want to bet on.
Earn Isk on your Idle Isk Today! |
Kvander Godalming
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Posted - 2008.09.29 14:56:00 -
[4]
 Originally by: Kazuo Ishiguro
Ahem.
Thanks for bringing this to my attention, Kazuo. It's not quite what I had in mind; what I'm thinking of is based solely on spread-based sports betting. Moreover I'm not sure how active that site is -- the last monthly report was filed almost three months ago. Since this is the first time I've heard of it, I really can't say. |
cosmoray
Cosmoray Construction
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Posted - 2008.09.29 17:19:00 -
[5]
Nice idea in theory. Difficult to do in practice.
You might have a great website where you hold an account and make bets. You could even just match bets that people want to make and take a 'small' commision.
The problem is always going to be trust and regulation.
You will have to find someone to hold all the ISK for you, and when you look around it is likely that the market will only accept EBank.
At that point people will start to ask why they should pay you when EBank will provide the service. The MD crowd is picky and will attack you for piggybacking someone elses name for what they consider free ISk'ies.
Not neccesarily rational, but there you go.
If you want to do it, make a free service which makes fun bets. If the idea takes off you could try charging.
My advice would be to not bother, it will be more work than is worth it. |
Kvander Godalming
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Posted - 2008.09.29 21:01:00 -
[6]
Quote:
The problem is always going to be trust and regulation.
You will have to find someone to hold all the ISK for you, and when you look around it is likely that the market will only accept EBank.
Given my current (i.e., non-existent) reputation, yes, this would be the case if I started out with a big operation. Which is a good reason for me to start it small, initially funding it out-of-pocket and limiting it to a few bettors who already trust me (for instance, corp mates and friends) and later on allowing for a full API audit of my operations to establish my credibility to the wider community before I ask for investment.
I don't deny that getting this thing off the ground would be difficult, but this is probably the only contribution to the game I'm ever like to make and I'm willing to invest myself in it fully.
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cosmoray
Cosmoray Construction
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Posted - 2008.09.30 01:56:00 -
[7]
API audits do NOT mean people trust you with their money.
You would be running an external betting site, so you require no in game skills/trades/ships to be verified.
An API audit isn't an I win button to secure funding.
People would only use your betting site if they thought you would always pay them back. An API audit does not prove that. |
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