Apply HN: Turn $1 into $1000 through the game of Rock-Paper-Scissors | Hacker News Reader

Apply HN: Turn $1 into $1000 through the game of Rock-Paper-Scissors

4 pointsalexvin4 comments

eDoubling is an online multiplayer competition platform where the players can win and double money playing the simple classic game of rock paper scissors. There are 3 types of game: one on one contest, sit and go tournament, and big cash tournament. It’s like a new kind of lottery only much better, because the odds would depend on you! If 5-million people compete in the event, you would only need to defeat 23 opponents to win. It is a game of skill, so we can provides both virtual currency and cash tournaments worldwide. In the United States, eDoubling can operate cash competitions in 37 states, and virtual currency competitions nationwide.

We are looking for beta testers: go to http://edoubling.com

Thanks;)

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Hm, this is one of those ideas which (like daily fantasy sports) seems to be in a gray area around online gambling. I don't know if what you're doing is currently illegal, but it definitely is one of those things that (e.g.) the NY Consumer Finance people don't tend to like. So I think that's a big risk for the business. Maybe you can get around these somehow but is it really how you want to spend your life?

If you want my advice, I'd encourage you to work on something that makes the world a better place somehow. Then you can have the world (and the regulators) on your side, and that gives your business a higher chance to succeed in the long term.

This is quite a loophole you've found here. Do you know if would be legal to allow users to opt-in to playing randomly? It could still technically be a game of skill, and players would just be choosing not to use skill. Then, it literally would be a lottery.

I really think you need to heed the lessons of fantasy sports for money. As long as you are flying under the radar, you may be fine. However, as a VC, I wouldn't even consider investing in this, because I would worry that if you ever became wildly successful, then regulators would step in (changing the rules if they have to) and shut you down.

First of all thank you for your advice. There are a lot of offline competitions around the world every year. The United States of America Rock Paper Scissors League is a national competition league (www.usarps.com). Why do not to combine all in one place?

When you became wildly successful, the regulators would always stepping in!

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