Rebecca Liggero talks to George Georgiopoulos of Bet Trade as he explains the concept of no house online casino games.
The appeal of a no-house casino concept vs. the traditional casino concept is the more social feel and 100% payout for players- each player has exactly a 50% chance of winning. Multiple bets are matched to eliminate the house, a concept similar to what Betfair has done with sportsbetting.
There is also a “live trading” element for players, a feature that allows them to trade before the winner is announced. An example of this feature in action is when the slots pause with two wheels still spinning and players can decide if they want to cash out early. This feature is also responsible for Bet Trade’s revenue stream, rather than through commission on player bets.
According to Bet Trade, their no-house product is more social and engaging for players and it increases margins while reducing risk for operators. The no-house casino concept allows players to bet on virtually anything – fantasy sports, lottery, new types of games and more.
Watch the full video to hear more from George Georgiopoulos