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A comment on Hack or not: picking sports and cashing out (legally).

Re:Hack or not: picking sports and cashing out (legally) by mattmaroon on Thursday October 18, 2012 @01:17PM (#4669774)
I can't tell from their website what exactly they do. Do you have to buy in for real money to win real money? Or do you play with play money that they allow you to cash out for real money if you get enough of it?

Either way, this is certainly illegal in at least 6 US states. Believe it or not, you can't have games of chance with cash prizes even if entry is free in some states. Nobody ever gets prosecuted for doing that though.

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Re:Hack or not: picking sports and cashing out (legally) by adsahay on Thursday October 18, 2012 @01:37PM (#4669902)
Hi Matt, it is the latter. I looked up your website and would love to chat more if you are up to it.
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Re:Hack or not: picking sports and cashing out (legally) by mattmaroon on Thursday October 18, 2012 @05:20PM (#4671181)
Sure. I am the founder of a YC company that originally did a Fantasy Sports for money product. While not an attorney, I did spend tens of thousands on them and learned a lot about applicable law.

My advice of course is to do the same if you haven't already. I'll be happy to give you my impressions but I'm no substitute for a lawyer who understands the ins and outs of your product. I can at least recommend a good one in the field of gaming law.

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