15th of March 2013 Author: Johnny Karp
In light of the latest individual states' online gambling initiatives, a social gaming operator Fanhood (.com) has begun considering its options in the lucrative market.
The site lets its punters buy tokens and make sports wagers with their friends, without being able to earn cash for doing so, which makes it legal under the US law. Its Facebook slogan reads: "Experience sports betting, play sports trivia and challenge other fans' teams in the most exhilarating sports app on Facebook!" targeting the busy March Madness betting season in the United States.
According to the company CEO Brandon Ramsey, who holds significant experience in the domain as a former engineer at Yahoo and Zynga, the social gaming site seeks to reach the millions of Americans who make casual sports bets with friends for fun and bragging rights.
'It's the same kind of psychology as taking $5 from a friend,' he said, adding that Fanhood's social networking facilities and on-going tallies of bet outcomes keep users coming back.
What this means is, if the US change their current restrictive legislation concerning online gambling, there could be some greater profit for Fanhood. However, there's still the obstacle in terms of sports betting due to the 1992 Professional and Amateur Sports Protection Act (PASPA) which restricts sports betting to just four US states.
Therefore, for the time being, Fanhood will have to settle with present income, unless one of the major gambling groups shows interest in a takeover.
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