- Joined
- Sep 12, 2004
- Location
- Up$hitCreek
Will this end up like the 'no gambling' website in Washington state? (I'm sorry I've forgotten the names. Not enough coffee yet. 
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Jonathan Berke 06.12.08, 12:09 PM ET
Here's a business model for you: Give people money and let them place any bet they'd like. If they win, they get to keep the spoils; if they lose, give them more money to play with.
No, we're not talking about the subprime mortgage business. We're talking about a new--and perfectly legal--online gambling outfit called Centsports.com, founded by budding Webpreneur Victor Palmer in College Station, Texas.
Online gambling has always been illegal, even though people got away with it for years. In 2006, U.S. federal prosecutors started cracking down on payment processors, making things a little harder, even for off-shore virtual casino operators and their customers.
In Pictures: The Best Bets At The Casino
Palmer skirts this pesky problem by banking his customers. Three elements have to be present to violate most state gambling laws--namely "prize....
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Jonathan Berke 06.12.08, 12:09 PM ET
Here's a business model for you: Give people money and let them place any bet they'd like. If they win, they get to keep the spoils; if they lose, give them more money to play with.
No, we're not talking about the subprime mortgage business. We're talking about a new--and perfectly legal--online gambling outfit called Centsports.com, founded by budding Webpreneur Victor Palmer in College Station, Texas.
Online gambling has always been illegal, even though people got away with it for years. In 2006, U.S. federal prosecutors started cracking down on payment processors, making things a little harder, even for off-shore virtual casino operators and their customers.
In Pictures: The Best Bets At The Casino
Palmer skirts this pesky problem by banking his customers. Three elements have to be present to violate most state gambling laws--namely "prize....
