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Encyclopedia > BetBug

BetBug is a downloadable software application that links users together so that they can share betting offers. BetBug effectively functions as a betting exchange.


BetBug's distributed network technology comes from P2P File sharing, and apparently avoids breaking U.S. laws that restrict sports betting services from being offered to citizens.


External links

  • BetBug (http://www.BetBug.com)

  Results from FactBites:
 
Betbug betting exchange quits US market (259 words)
In January 2005 Betbug, the upstart betting exchange announced that it was seeking a listing on the Alternative Investment market.
Betbug claimed that as it was a betting exchange, utilising peer-to-peer software it did not violate the Wire Act.
While we continue to believe that BetBug's true peer-to-peer software does abide by all major Federal gaming laws in the United States, the current legal environment seriously deters our chances of success.
Kazaa of online gambling bets on the US - Times Online (1362 words)
BetBug, like established betting exchanges such as Betfair, relies on a critical mass of users to provide the liquidity essential for its business model.
BetBug is already making money through referral fees from payp2p.com – the company that manages the flow of money from losers to winners and takes a 5 per cent stake from each bet, capped at $20.
Another analyst pointed out that BetBug requires users to download a nine-megabyte file, and that many potential clients, especially those who bet from work – a significant market in itself – are unlikely to opt in to the process.
  More results at FactBites »


 

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