[JuiceTrading]

Hi Guys:

Has anyone heard of Second Life (secondlife.com). It's basically a virtual world - you can read more about them at their website.

What you do is convert your real money into virtual money, which you can later convert back to real money. You can even play the currency exchange game and possibly profit off of it. There's basically an entire virtual economy running in that world.

Anyways, there are a couple of sportsbook that's up and running in there. The difference between them and the regular sportsbook is that you don't have to deposit money with the sportsbook. Your money rests with Linden Lab (the company running the virtual world).

What you do is go to the sportsbook, pay them for a wager as if you're purchasing something, and if you win, they just pay you back. The only time that your money is at risk is when you place a bet with the sportsbook and only if they do not pay you back. Otherwise, your money is in your account which you should be able to convert to real money anytime - no need to worry about cashing out.

What do you guys think? I have a friend in there that's running a sportsbook call High Rise Sportsbook and he's offering 5% juice. Do you think it's safe?

Here's my thought. You're only at risk if 1) The book doesn't pay, but you only lose what you bet. 2) The virtual economy collapses and your virtual money becomes useless.

But from the looks of it, the virtual world is taking off. I've talked to people that are starting up stock exchanges, companies to build things, etc. You name it, it's in there.

What do you guys think?

PS: There's actually going to be a stock exchange opening up in there soon! Sounds very interesting as shares only cost about $.04/share. Some people have became millionaires building businesses in the virtual world! http://www.businessweek.com/the_thre...ml?chan=search

[degenerate#1]

Interesting concept, but who'se got time to walk around in some virtual fantasy land.

[jjgold]

Sounds like another scam

get a local

[Hulu]

Very interesting idea. I have played Second Life and I could see how this would work. Could the DOJ go after someone running a sportsbook that operates using virtual currency? If they are based in the US, I would think so although they will probably take a while to show up on the DOJ's radar.

[JuiceTrading]

I don't think it's another scam b/c the sportsbook is just a small part of secondlife where most people except us degenerates don't know about it. Plus, it's not like you have to trust all of your money with the sportsbook.

The game is actually fun and if you're good, you can make some serious cash as side money in there. Too bad I'm not a good programmer or I'd be coming up with a lot of ideas in there.

[Lucas]

in fact, no money are real
any currency is "real" only because people believe it is real
golden and another commodity standart is dead many years ago

[Santo]

I looked into this in a business proposition a while ago. The downside at the moment is that the SL servers are based in California. I wouldn't do it on that basis alone.

Also in the VW industry in general, RMT (Real Money Trading) is becoming harder as game companies, the law and the taxman clamp down on it. SL is not going to be restricted from the game company, but it may well be taxed, and things like casinos and sports are likely to fall foul of the law.

[compaqDikk]

people who play these everquest virtual reality games 24/7 are 10X as worst as the degenerates on this board

[Bill Dozer]

A walk up sportsbook online!?...Great concept but as long as US servers are playing a part in it it can't work. Anything big enough where gambling isn't the main feature (for ex. paypal) is probably safe but the inherent problem with that is anything big enough to support gambling won't risk what it has for it. This is the problem we are seeing with the banks that probably have a case if they found it worth it to fight it.

The one scenario I see this potentially working is if Vegas goes online. Transfer fees down to nothing, you could see all kinds of webcam shows, the government could even restrict how many trips into virtual Vegas one can make/year in effect regulating it.

Who knows, leave it to one of these Wikipedia geniuses to challenge the courts and server-vs-physical location debate.

[JuiceTrading]

Well, I wasn't really trying to generate any debates.... just thought I'd point out a temporary and maybe less risky way to bet until the smoke is clear.

[Bill Dozer]

Well, I wasn't really trying to generate any debates.... just thought I'd point out a temporary and maybe less risky way to bet until the smoke is clear.

Great topic. Debates come naturally with these new ideas. If I already had cash in the world I'd put down a bet.

[Bill Dozer]

It looks like Second Life may be cited for processing gaming transactions...

FBI investigating the legality of gambling in Second Life

Linden Lab have said that the FBI investigators have visited the casinos located on their Second Life online virtual world but have yet not decided whether they are legal or not.

Ginsu Yoon, representative of Linden Labs said in a statement: “We have invited the FBI several times to take a look around in Second Life and raise any concerns they would like, and we know of at least one instance that federal agents did look around in a virtual casino.”

He added that the company is now looking into the virtual gaming activity in Second Life and are seeking rules from U.S. authorities related to online gambling in a virtual world.

Experts have claimed that placing bets with Linden dollars likely violates U.S. anti-gambling statutes. However, whether Linden Lab can be held accountable for that is not clear.

Sean Kane, a lawyer at New York’s Drakeford & Kane added: “What they did was go after the processors, and made it a crime to process payments that relate to online gambling sites. Linden could potentially be held as the same sort of processor. If you’re buying money on the Lindex and utilizing it for gambling purposes, Linden could have a much higher level of responsibility. If they would be found in violation, that’s difficult to say, but I can see a much stronger case being made.”


http://stuff.techwhack.com/archives/...g-second-life/

[ShamsWoof10]

wow now this is an interesting concept... I am certainly going to look into it... I see virtual worlds as the future and this is most likely only the beginning... Is virtual currency also considered ""E-Currency"?

Good Stuff
Thanks

[mavs1978]

this site is really cool? can someone please explain to me wht the hell it is though.. i want to play

[BigBollocks]

I am the only one who caught on this guy was a shill from the beginning? He signed up on 1-19, and proceeded to devote every post he had to draw attention to this company in late January and early February.

[ShamsWoof10]

in fact, no money are real
any currency is "real" only because people believe it is real
golden and another commodity standart is dead many years ago

Forgot to quote this... Totally agree... Money is only paper or now even digits and has value because it's believed to be real...