Launch HN: Balto (YC W19) – Fantasy Sports People Bet On

Re:Launch HN: Balto (YC W19) – Fantasy Sports People Bet On by mark212 on Thursday February 21, 2019 @03:44PM (#19220416)

I think the point is to integrate the money with the bracket, and have it update live and accurately. I assume none of the existing platforms you use take money, hold the pot, and disburse to the winner?

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Re:Launch HN: Balto (YC W19) – Fantasy Sports People Bet On by philipodonnell on Thursday February 21, 2019 @03:49PM (#19220449)

> I assume none of the existing platforms you use take money, hold the pot, and disburse to the winner?

To be fair, there's a good reason for that! [0]

But its not clear that's what's happening. Usually with grey area startups there's a section that at least attempts to describe why they are not running afoul of the law. This site under legal information is just a privacy policy, so, yeah I guess they should spend a bit more time explaining how they will make money. Ads?

[0]: https://en.wikipedia.org/wiki/Parimutuel_betting

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Re:Launch HN: Balto (YC W19) – Fantasy Sports People Bet On by Nicky_Montana on Thursday February 21, 2019 @05:45PM (#19221286)

We'll make money through affiliate marketing and premium features. We're strictly a technology company and don't touch or handle any money.

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Re:Launch HN: Balto (YC W19) – Fantasy Sports People Bet On by slap_shot on Thursday February 21, 2019 @03:46PM (#19220432)

Yeah, we pay out the winner using Venmo.

I signed up and made a pool but it wasn't immediately obvious to me that the funds are transacted through them.

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