[andyakb]

Guys, I have absolutely no idea what this service is. I know it has something to do with sports, and is your unique take on it to supposedly keep it legal, but when you are doing something that isnt straight forward you need to explain what it is if you want people to try it out. You really need a "how it works" page, because going to the site says absolutely nothing. Also, have a link to tell people what B$ are and actually write out "bitcoins" [is that what B$ are?].

//EDIT: Just saw that B$ are banana bucks. How do people get these and what happens when they "cash out?" I watched your "intro" video [which wasnt very prominent on your homepage] and still dont really have answers to most of the questions I raised

As far as the legality, I really wouldnt be so sure about your 3 prong test, ESPECIALLY if you dont have a lot of money to fight the DOJ. Will they come after you? Depends on how big you get and how well you hide, but if they do come after you, you cant just say "Sorry, we thought it was legal" and shutdown the site and expect them to stop going after you.

When you say, "Furthermore users can’t wager or bet on teams, they simply pick which team they support in a match." What does this mean? Why would a user "pick" a team? What happens if they pick a team and that team wins? What happens if they pick a team and that team loses?

[stephengillie]

From the article: If you have a grand or more in Banana Bucks (or B$, our virtual currency)...

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The only model they could legally work is:

Allow people to gamble with real money if it's legal where the person lives, and force them to use fake money if they live where gambling is illegal.

Even if Americans have to leave the country to receive their payouts, American courts will still likely find this site in violation of anti-gambling laws.

[andyakb]

yea, the us gov't has made it pretty clear that what matters is where the customers are located, so while they dont care if an american gambles online from canada, an american cant gamble from america and then go to canada to get his money.

[nav]

To clarify. There is no buy in. In no point of the game do you actually use your credit card, cash, sheep's wool or any form of a tradable commodity to buy-in.

[andyakb]

how do customers get banana bucks? what happens when they cashout banana bucks?