New Betting Site: Off Bounds to U.S. bettorsPublished June 10, 2002 by OCR Editor
On Tuesday, a Cambridge online gaming company presented a Napster style bettor to bettor betting system for World Cup Soccer buffs.
Grand Virtual Inc.'s WagerCity Web offering aims to do away with the "Houses" position in order for sports bettors to wager against each other openly over the Internet. Grand Virtual also plans to implement this new system for other exhibitions including the popular Tyson - Lewis fight coming up. However, Grand Virtual will not profit from the U.S. marketplace due to online gambling illegalities, except for certain omissions.
Though the U.S. will have access to the new system through the Internet gaming market, and in the event that it becomes legalized, Sebastian Sinclair, president of Christiansen Capital Advisors in New York says, "It is eBay for betting."
The company anticipates on making its profit on legal betting in the U.K. and other popular legal Internet gaming markets. Grand Virtual looks forward to showing the new system's success and expects to license its software to casinos and gaming companies. It is important to note that Grand Virtual will try to prevent U.S. gamblers from using its system illegally.