[Bill Dozer]

They set up a betting exchange to work like ebay. You send your check to Seattle Washington.

Betcha: Fine Print
"Honor-based?"
Gambling platforms are compulsory (and, in the U.S., illegal). The Betcha platform is honor-based. You pay your losses not because you have to, but because you should. When you do you're usually rewarded. When you don't -- you have to live with your reputation. And with your Honor Rating displayed almost everywhere you go, there's little room to hide.

http://www.betcha.com/parts/popup/21?layout=small

[JBrown1045]

They set up a betting exchange to work like ebay. You send your check to Seattle Washington.

Betcha: Fine Print
"Honor-based?"
Gambling platforms are compulsory (and, in the U.S., illegal). The Betcha platform is honor-based. You pay your losses not because you have to, but because you should. When you do you're usually rewarded. When you don't -- you have to live with your reputation. And with your Honor Rating displayed almost everywhere you go, there's little room to hide.

http://www.betcha.com/parts/popup/21?layout=small

Should I join? LOL

[pico]

sounds like a hippy idea in a capitialist world. i think it'll work great

[Bill Dozer]

That format is exactly what Americans need in order to get a taste of betting exchanges but the US-based, Wachovia-serviced, honor system kills it.

Now, combine this with Prosper.com procedures and behold...the future!

[ion]

Maybe SBR should do something like that but with play money. Every poster could have a win (or loss) total along with a post count. This way, JJ could silence all his doubters

[ferndog]

We should all go on there and deposit because this is as close to a betting exchange that we will have in the U.S. If a player welches on a bet then you know not to bet with him again. Serious players will pay up if they want to get paid when they win. We could go on there and put all the same type of bets that betfair offers and you can deposit and withdraw with a cc. What sportsbook offers that?

[pico]

a better idea would be something like yahoo's fantasy stock market. each month/season, you can sign up with 100k worth of fake money. by the end of the month/season, the top few get a cash prize.

[Bill Dozer]

Maybe SBR should do something like that but with play money. Every poster could have a win (or loss) total along with a post count. This way, JJ could silence all his doubters

I like that idea... Player profile pages with competition wagering stats.

[WileOut]

This getup will never work. Scammers will open tons of accounts, build their rep with smaller bets, then take shots with the large bets. I can't believe they didn't think of this before they started the site.

[bigboydan]

This getup will never work. Scammers will open tons of accounts, build their rep with smaller bets, then take shots with the large bets. I can't believe they didn't think of this before they started the site.

Thats the down side to this concept alright.

[bigboydan]

Now, combine this with Prosper.com procedures and behold...the future!

Kinda scary isn't it

[AGuyFromBend]

This getup will never work. Scammers will open tons of accounts, build their rep with smaller bets, then take shots with the large bets. I can't believe they didn't think of this before they started the site.

I actually know these Betcha guys and bet over there often. Trust me, they thought of this problem (and a bunch more potential ones) and built the system to account for all of them.

First, do you really think there's going to be a little army of "scammers" out there, armed with ten ************, betting $10 at a time, for the grand payoff of -- drum roll, please -- one day not paying a big loss? Ooooh, that's a big win -- NOT! Talk about kissing your sister. That little army and their 10 ************ would be a lot better served (and make a lot more money) scamming people on ebay.

Second, the way the system is built, the guy who lists the bet can specify how established a person must be in order to take his bet. If he doesn't want to take a slouch, he doesn't have to.

As for the very concept, I agree it's a bit odd at first blush. But is the idea of betting with a stranger really that much different than sending a total stranger $600 for a set of golf clubs? That seems to be working okay for eBay. Is it really much different than loaning $6k to some gal in Alabama to help pay for her wedding? That seems to be working okay for Prosper.

Betcha's big problem isn't going to be the honor-based part. It's going to be liquidity. When people can bet on absolutely anything they can think of, the chances of finding people to take your action is minimized. I predict there are going to be a lot of ships passing in the night as people come up with all sorts of weird stuff to bet on.

[AGuyFromBend]

a better idea would be something like yahoo's fantasy stock market. each month/season, you can sign up with 100k worth of fake money. by the end of the month/season, the top few get a cash prize.

Now THAT's gambling. Only difference -- Yahoo! has deeper pockets.

[ShamsWoof10]

Maybe SBR should do something like that but with play money. Every poster could have a win (or loss) total along with a post count. This way, JJ could silence all his doubters

What an AWSOME idea... nice going for a good thought... I really do hope SBR does something like this and I am happy to see that Bill likes it too.... Player profiles along with other things is also a great idea... keep it up guys and look into it Bill....