Centsports was launched in the late of November 2017 as a concept that would make online gambling and betting legal. It was founded by Texas A&M graduate Victor Palmer. It is a website that gives people money to gamble as much as they want. People can keep the money if they win, but just in case they lose, the company provides them with more money to play with.
Legality of the company
Of course, gambling is illegal and no one wants to go to jail. But, it’s not gambling unless and until you are paying to participate in it. You see, gambling works on three simple principles prize, chance and consideration. Of these three principles, “consideration” is the one which stands for the ability to provide something of value to participate. Since Centsports does not allow its users to gamble with there own money, so all the gambling and betting is considered legal.
How does the site actually work?
To most of the people, this might seem like a too good to be true kind of story? But it isn’t so. each and every user have to register at centsports, upon which the users are provided with 10 cents in their accounts as sports bucks. From here on you can increase your account balance as much as you want by playing games, entering contests and various other events. You can also earn a 5% bonus on your winnings by inviting another user to join the site.
A user needs to earn a minimum amount of $20 to be able to cash out their winnings. But, this is not that simple, to make sure the company doesn’t run out of money, they put breaks in the payout. once a user has earned a minimum of $20 he or she needs to participate in bracket events to cash out the winnings. Users have to compete with each other and win the money from a community pot, thus the big winners getting most of the preference.
So how does the company make money? From hungry advertisers like Pizza Hut, Skype, NBA, etcetera.