An idea, looking for expert advice

Question

So I have been working on the idea with a few friends about starting a 'unique' sports book.

I dont know if anyone here is familiar or uses DraftStreet -- its basically a site where you draft teams daily and can enter small or large pools of people, or play individually against your friends. The main site has a 'lobby' that you can select which games and which people to matchup against. Its a pretty cool concept for what its worth..

Ive been working on the idea with some friends about having a similar site, based on 'Custom Spreads' for a game. There are a lot of games in the course of any season where the spread or O/U is completely over/underestimated, and there are bettors who are very good at beating certain spreads. The idea is based on instead of lobies of Draft groups, You have a lobby with 'custom spreads' that people will put up and others will take.

For instance, this weekend, Louisville, is favored -10.5 against W State. You have someone who thinks they'll win by 20, someone who thinks theyll win by 10, and someone who thinks theyll be upset. So you have users who will make a spread, like LV -19.5, put the money up (maybe even customize the odds), or someone who will post WSt -1. And you have an entire customized lobby for every game. Then the other player, picks a game/spread, matches the money through his account, and then after the game, one player collects all, with a small rake to the house. This could be especially popular when you get to the NFL, for instance last years (2012) New England Patriots opener was -3 (against Tennessee..?) I would have put $100 up on -6.5 and $500 on -9.5, if someone had been offering it. So essentially, players have the ability to create their own book, and users have the ability to get the best spread.

Im trying to figure out:

#1 if something like this is even legal, or would be taken down if it was 'run' in the US, but based offshore

#2 if there would be enough interest in this to get everything launched and get everything moving enough to be popular and profitable.

Let me know your ideas..

zoso729 · Answer

So I have been working on the idea with a few friends about starting a 'unique' sports book.

I dont know if anyone here is familiar or uses DraftStreet -- its basically a site where you draft teams daily and can enter small or large pools of people, or play individually against your friends. The main site has a 'lobby' that you can select which games and which people to matchup against. Its a pretty cool concept for what its worth..

Ive been working on the idea with some friends about having a similar site, based on 'Custom Spreads' for a game. There are a lot of games in the course of any season where the spread or O/U is completely over/underestimated, and there are bettors who are very good at beating certain spreads. The idea is based on instead of lobies of Draft groups, You have a lobby with 'custom spreads' that people will put up and others will take.

For instance, this weekend, Louisville, is favored -10.5 against W State. You have someone who thinks they'll win by 20, someone who thinks theyll win by 10, and someone who thinks theyll be upset. So you have users who will make a spread, like LV -19.5, put the money up (maybe even customize the odds), or someone who will post WSt -1. And you have an entire customized lobby for every game. Then the other player, picks a game/spread, matches the money through his account, and then after the game, one player collects all, with a small rake to the house. This could be especially popular when you get to the NFL, for instance last years (2012) New England Patriots opener was -3 (against Tennessee..?) I would have put $100 up on -6.5 and $500 on -9.5, if someone had been offering it. So essentially, players have the ability to create their own book, and users have the ability to get the best spread.

Im trying to figure out:

#1 if something like this is even legal, or would be taken down if it was 'run' in the US, but based offshore

#2 if there would be enough interest in this to get everything launched and get everything moving enough to be popular and profitable.

Let me know your ideas..

cuwgolfer · Answer

sounds sweet to me if you could get it to work...

Spartacus10 · Answer

Your idea is exactly what a sports betting exchange is

NoWorries21 · Answer

Its called betfair in the UK and matchbook was in us but got shut down

esplanade · Answer

matchbook

An idea, looking for expert advice

Hot Forum Topics