Me and a group of friends are making an online video game and we want to incorporate gambling.
Imagine a game where you can buy virtual money with real money and buy real money with virtual money, free exchange either way. A player watching a tournament pays 10 dollars to buy 10 virtual bucks. He bets against another player, 10 virtual bucks that his friend wins the tournament. Is this legal? What about if he doesnít have a way to convert virtual bucks back to real money?
If an online gambling company is based outside the US does that get them off the hook? Americans can go to the site and gamble and itís the players breaking the law not the company?
Say 8 players pay 10 virtual bucks each to join a tournament. The winner is rewarded 70 virtual bucks. Is this legal?