Titan Gaming Pushes Legal Envelope for Online Gambling

Published Saturday, June 05, 2010 - Online-Casinos.com

According to the Canadian newspaper the Ottawa Citizen a young entrepreneur originally from Canada now living in California USA is about to test the legal waters and offer betting on "video games requiring skill" over the internet. Titan Gaming Inc. is the brain child of Francisco Diaz-Mitoma, who is the creator of the Titan Platform which is a system that allows console and computer gamers to bet on the outcome of a multiplayer match.

The venture has collected $1 million in capital and plans to begin offering its services to gamers very soon. The players build the prize pool similar to that of the fantasy sports games that are very popular. Players all pitch in $5, $10 or more before the tournament starts.

"A skill-based game is when skill is more predominant then chance. Skill-based gaming is not considered gambling," Diaz-Mitoma stated, adding, "We can enable them for head-to-head (play) for a casual hockey game. For example, we can both put $2 on the game and if you win you might make $1.80 (with the other 20 cents going to the company)." Twenty five year old, Diaz-Mitoma is a university graduate and an avid gamer and very confident that all of the legal issues have been ironed out. "You can pay $10 to join a golf tournament in real life and come out and win $1,000," he said, "It's the same logic. We've received multiple legal opinions."

Opinion on the legality of the Titan Gaming venture is questionable and still in a grey zone especially in Canada where the laws governing online gambling lack updated legislation. The matter of fees remains an issue for the company as Diaz-Mitoma has pointed out the company collects a cut of every bet placed.

The fees Titan plans to collect may classify it as running an online "gaming house," and may require the firm to obtain licenses for the activity in certain jurisdictions. Internet gaming is extremely popular with millions of players and should this idea finds it's way through the tangled legal web it just may be turn out to be very lucrative.

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