The online gambling (as opposed to gaming) market is obviously a very attractive one, as seen by the huge success of PartyPoker and similar companies, but it's always been difficult for American entrepreneurs & investors to directly participate in that sector due to the aggressive anti-gambling stance of the US government. And yes, we have seen skill-based gaming (betting to a certain extent, but outcome based on skill, not luck) sites such as WorldWinner and Skill Jam appear in the market, but they didn't really move the needle since the games were not classic "gambling" style games - e.g. World Winner was just sold for $23M - nothing to sneeze at, but certainly not a billion dollar market outcome like Party Poker.
So I recently stumbled across Betzip, a gaming/gambling company started by former Looksmart (where my wife used to work) CEO Jason Kellerman. What is really clever about this approach is that it brings you the classic poker-style gameplay and lure of cash prize tournaments, but with what appears to be a clear end-around the US gambling regulations since there is no actual money wagering - you have to pay $20 to be a member of the club, but you can't lose any money in it.
I have only played a bit, but the concept seems strong. You have the opportunity to win good-sized prizes ($5,000 first prize) in the weekly or monthly tournaments, so it probably keeps you from really doing dumb wagering like you would if no money was at stake, but the lack of actual money pots keeps the event from being a gambling enterprise, so it's probably legal in the US. At $20 a month, it's a decent amount of money, but it's not so large that you're going to gamble away your house and your first born child - however, it's a step above the $.50 wagers one often sees in true skill-based gaming sites, which is good since those low wagers don't keep stupid bets from happening since the price is too low to limit moronic behavior.
The downside? It feels like a traditional online gambling site without having the upside to the company of taking large amounts of money from each user - I have received 3 emails since registering 12 hours ago, which feels a little aggressive. And the the $20/month fee may not keep the really stupid gamblers (AIWCC - All In with Crap Cards) from still screwing up games since it's a free play site, but I'm not sure that's as big an issue as it is with free sites.
I'm not an online gambling expert, but BetZip feels like a really clever mix of poker-style gaming with a subscription style economic method which appears legal in the US - give it a shot
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