News Post

ESPN Videogames posted an interview with GameSetCash's co-founder, Ryan DeSanto.

Jon: "Other sites have tried this before, but they all seem to be about professional "Madden" players betting huge amounts of money or trying to hustle some gamer who is in way over his head. How do you plan to differentiate yourself?"

Ryan: "When starting out on this project, our research showed that there is a real demand for an intuitive and secure online platform where gamers can play other gamers in tournaments and for cash. But when researching our competitors, it was obvious that something about their approach was off. It's easy to credit this to poorly designed Web sites or misguided marketing initiatives, but that would really be ignoring the problem, which is very simple, and that's the fact that skill games for cash competitions by nature cater to hustlers and glitch exploiters and pros. And that's most of what you'll find in the existing communities ... there's a very limited number of people willing to put their money on the line in these environments.

With this insight, we began looking at other, non-chance based, competitive communities where members were putting cash on the line. We came across this huge obsession with fantasy sports betting. There were over 27 million people involved in fantasy sports leagues in 2009, with the average participant wagering $150 on the outcome. If you look at what drives these communities, it's not the huge jackpots or the hope of earning a paycheck or turning pro. It's really about just gathering with people you trust -- your friends and friends of friends -- and enhancing the excitement with some cash. That's really the mentality that we wanted to tap into."

Member Comments
# 1 iminurbase @ 03/01/10 09:20 PM
I have a hard time believing 27 million people playing fantasy sports average $150 per person on the line...
# 2 Michibuck @ 03/02/10 11:56 PM
You should see the action going on at some of the daily fantasy sports sites like http://365fantasysports.com. Guys are plunging anywhere from $6 to $110 on EACH contest... but they get paid their winnings every day. I think the $150 x 27 million is a gross UNDERSTATEMENT.

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