Zynga & the U.S. Online Gaming Market

Big news in the social gaming space: Zynga has decided not to pursue obtaining an online gaming license here in the U.S.

Now, there are several reactions that people have had as a result of this announcement from Zynga's corner. Some reactions that we have been reading is the thought that the U.S. is not going to be a viable online gaming option in the future. WRONG!

Here are a few reasons (we strongly believe) Zynga is choosing to forgo the U.S. route (for now) and how it relates to us:

1) They have a new CEO. Mark Pinkus (Founder & previous CEO) started pursuing growth strategies outside of Zynga's core competencies. The new CEO, Don Mattrick, wants a majority of the focus to be to get back to their core and do what they do best: casual social games. That's what made them successful in the first place. Time to revisit the basics of what made the company great. (This is a big indication why the giants of the industry cannot and will not just be able to flip a switch and knock companies like us out of the picture as easily as people may think.)

2) They are a publicly traded company. Their numbers have been horrendous, and Mattrick wants to instill the common rebound method of improving operations by returning to their core. #1 goal is regaining the confidence of their investors so they are pulling back some of the plays that are riskiest right now. It's simply the fact that the U.S. online gaming market is a long term play and Zynga can't bank on that kind of play to appease shareholders now.

3) It shows that the U.S. is not yet "there", but the fact that they were considering moving a lot of their resources on the U.S. online gaming market proves that we are moving this way as a nation. Zynga also stated that they are still going to be testing out their real gaming platform in the European market = we are again, on the right track in terms of priorities and launch plans.

We're excited that the market is validating our movements and go-to-market strategies (can't disclose them all for obvious reasons). We'll keep you updated as more comes out!

Wager Wars Promo Video

Last week was a busy one. Two of the top items on our list that we are focusing on at the moment are speaking/meeting with potential investors and working on filling out our development team. It is a little bit of a catch 22 situation (usually need funding to bring on talented developers, but investors want to see talented developers already on the team before writing a check). We have some very promising candidates that are interested in joining the team which we are obviously excited about. We will figure it out and make it happen.

We see several other opportunities and directions we could take and are currently evaluating all of them.We are particularly interested in the recent S.E.C. rulings and are weighing our options on that front. We will keep you up to date on any developments, but for now, we wanted to share a little promo with you ;) Stay classy, stay tuned.

Operating Within Parameters

As we have mentioned in past postings, we have been beating down the funding path as fast and as hard as we can go. The past week has been very encouraging as our traction and dialogue with interested investors is picking up. What is really encouraging to us is that some of the investors are asking the good, hard questions. Most of these good questions are in the ballpark of legality and the gaming license process.

In the grand scheme of things, we will be obtaining a license through a gaming commission (either in the U.K. or elsewhere that has a reputable track record). When we apply, there is a strict protocol of procedures that we will go through. One of the biggest items on the list? You guessed it: security and firewalls. Reputable gaming commissions are "reputable" because their requirements to obtain a license are very strict which gives them credibility, and they look to keep it that way. There are also bans in some markets, such as in the U.K., from advertising unless an entity is licensed through a reputable commission. Why? They want to protect their citizens and players and ensure that only fair gaming entities are operating in their territory.

These gaming commissions ensure that any license holder under their name is a legitimate operation that will not cheat players and has all measures in place to protect user information. In some cases, it also verifies that the operation has put parameters in place to only accept users/deposits from regulated markets.

Yes the process will be intense, but we will welcome it with open arms because
a) it ensures that we are staying within accepted operating bounds,
b) it gives us a certification that bettors will trust, and
c) it gives investors a solid, concrete backstop and assurance that we will be operating within regulated guidelines.

Onward.
The Wager Wars Team
https://angel.co/wager-wars

A new age is coming.

Have you ever been so motivated by something that you just can't sleep? That's how we are over here at Wager Wars. We wish that we could keep working through the night and take a pill that fed us the "rest" our bodies need so that we could get not waste any time and get more done in a 24 hr. period.

The online gambling realm is shifting towards the mega social movement the world has witnessed over the past 5 or so years. Yes, there is still a lot of shifting to be done until it has "arrived", but it is shifting nonetheless and we are working as hard as we possibly can to keep ahead. It is an exhilarating experience, really, to be on the cusp of something that has yet to come. We cannot wait to show you what we have been working on. We are developing, we are fundraising, we are recruiting, etc. etc. etc... and barely sleeping. And we love it.

Follow our blog, Twitter (@Wager_Wars) and Facebook to keep posted on everything we are doing.

Also, check out our profile on AngelList: https://angel.co/wager-wars

A new age is coming. 

The Isle of Man & the UIGEA of 2006

This morning we had the pleasure of speaking with an investor from the Isle of Man. It was a very interesting conversation, especially considering the fact that he was in the industry when the UIGEA (Unlawful Internet Gambling Enforcement Act) of 2006 was passed here in the states. UIGEA is an act that "prohibits gambling businesses from knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law." As you can imagine, this caused a mass exodus of online gaming industry from the U.S. market. The investor we spoke to was extremely knowledgeable on the market and is now an investor in the space. As with any investor, we appreciated his time, his questions, and his feedback. He also shed light on how beneficial doing business in the Isle of Man can be. We know it is, but it reassured all of our assumptions. Sounds like a wonderful place; we are looking forward to visiting.

But back to UIGEA. This is currently one of the major acts that states such as Nevada and New Jersey are battling. Hundreds of millions of dollars left our market after the act was passed. What a shame.  Aren't we the icon and ambassador for freedom and capitalism? America is missing out on such an opportunity (jobs, taxes, etc.). Thankfully there are some visionaries that are taking the lead on changing this. Until the regulatory environment changes domestically, we will be aiming to launch Wager Wars in regulated markets around the world.

The Path to Funding

The path to funding is no cake walk. It is one that is very hard to find, and once you find it, it only gets harder. It twists and turns, drops and burns anyone who underestimates it. The path to funding is filled with caves and pits and it easy to lose sight of the end goal. It is steep and does not offer side rails to keep you on track.

Raising capital is one of the more difficult endeavors one can take on, especially if you are not a seasoned veteran. The odds are stacked against you. Endurance and an unwavering will are both must-have's for the journey. You must go down the path without hesitation or fear and keep going no matter what roots you get tangled in or how many rocks fall out from under you and put you on your... butt.

Well, here at Wager Wars we love being black and blue from our efforts. We love climbing out of pits and daring to venture through the caves. We love the challenge. Why? Because it's what our startup is founded upon, venturing into the new, emerging market of online social gaming (with a twist), and we know what is at the end of the path. Bring it on.

The Calm Before The Storm - Industry Update 1

Hello everyone!

We hope that you had a great weekend and that everybody in America had a great 4th of July!

As previously mentioned, one of the first questions we get either from potential investors or from potential developers/team members is where the online gaming regulation process is. Some "experts" say that we are in the midst of the evolution while others claim that we are years away from anything happening. Here at Wager Wars we believe that we are experiencing the calm before the storm. Regulation of the online gambling space is going to bring tidal waves of business world wide, and we believe the U.S. will experience the biggest ones of all. There are a lot of moving parts going on in the background in terms of setting regulation parameters, but we are beginning to see this progress in the forefront. We are starting to see a few ripples in the water and a little pickup in wind.

Last week in New Jersey 12 casinos out of Atlantic City, the "Gambling Capitol of the East Coast", notified officials that they will have their online gaming operations up and running (fully licensed, regulated, and legal!) by November of this year! So what does that mean? The process has started, and we believe that it is merely a game of dominoes and the first two have fallen. We are simply waiting for the chain reaction. Nevada has already issued online gaming licenses and New Jersey is right behind them. Several states are already in the process of doing the same not too far from now, including Delaware and a few others. Don't believe us? Check out the NJ article here.

A storm is a-brewin' in the online gaming world.

Calling all experienced CTO's, Hackers and Developers

Two weeks ago, we went to Las Vegas to meet with several interested investors and VC funds. A majority of them loved the concept, business model, go-to-market strategy, etc. We also got some great feedback and suggestions from several of the groups, all of which recommended building an in-house tech team instead of outsourcing the full build-out of our platform. Wager Wars needs a team that is committed to the venture and can scale as we grow. Once we get our tech arm established (something along the lines of a CTO + a few talented developers), they want to meet again and seriously consider getting us the capital we need to take Wager Wars to the global stage.

Since we got back, we have been speaking with several experienced potential CTO's as well as rubbed elbows with some talented developers. We would like to extend the invitation here on our blog to any CTO/developer who would be interested on coming on board with us as we brave the seas of the international online gaming industry. Please feel free to contact me at WilliamGWebb12@gmail.com if you are interested in the slightest. We would love to talk with you.

Onward,
The Wager Wars Team

BetYa You Have...

I bet that at some point in the last few weeks or months you have had a debate/argument with a friend about who would beat who in a particular event (football, baseball, political race, SOMETHING). If not recently, it's happened to you in life, you know what I'm talking about...

Ya, that's where we come in. We are bringing you the platform that will help you and your friends/rivals duke it out! We are tired of people just talking talking talking away. Thanks to Wager Wars (us), the world is about to enter the era where people will get a chance to put their money where there mouth is and back up all of that talking. No more hiding behind words; time to call out those talkers and see if they are for real.

More to come!

Think BIG dream BIG

We are working hard to get closer to our goals of obtaining funding for our venture. We have been talking with many angel investor networks from around the world. It has been a great experience so far and we are getting great feedback. Although being told "no" can be discouraging at some points, these no's are simply acting as lighthouses guiding us to the right investor and making us more and more battle-tested. We are excited to continue on this journey and are working hard to make this dream a reality. 

Never stop dreaming. Never stop pursuing with boldness. Never settle. That's what we are about here at Wager Wars.

Land of the Free?

So a lot of people have come up and asked us, "Online sports wagering? Isn't that illegal?"

Well, for now, it is illegal in almost every state here in the U.S. Nevada, New Jersey, and Delaware have either already  legalized it or are in the process of doing so, and several other states are following suite. However, Wager Wars is no being launched in the U.S... yet.

What we can't quite figure out is how the U.S. is supposed to be the leader of the free world, yet online gaming is illegal here while legal in numerous other countries around the globe. And, why can Indian reservations carve out their piece of the pie here in the states? It just doesn't make sense? With all of this going on, states are starving for revenue, and we all know that one way to increase revenue is through a tax mechanism. If online gaming is regulated here in the states, that provides a whole new, lucrative industry for states to tax and increase revenues. Not only that, it is estimated that tens of thousands of jobs would be created in each state.

For these very reasons, states such as Nevada, New Jersey, and Delaware have put it upon themselves to represent the pioneering American spirit and letting the people decide. True democracy. The people spoke, voted and passed the regulation of online gaming in a landslide.

For more information, check out http://lettexansdecide.com/.

Hello world!

Hello world!

We are Wager Wars and you are going to want to get to know us.

Wager Wars is a social gaming platform that allows friends, family, and rivals to bet on sports against each other instead of betting against a traditional sportsbook.

What do we know about sports betting? Well, we know that you would much rather take money from your rivals instead of from a sportsbook... oh, and run your mouth a little bit in the process. We have developed a platform and are currently in the process of fundraising to take our startup to the global stage. We will be updating you with any information related to what we are up to, sports wagering in general, or something completely random. 

Stay tuned, everyone! We are working hard to bring you what you want!

The Wager Wars Team