On the sweepstakes vs. skill distinction: you're right that traditional sweepstakes involve random selection. Our model falls under what's commonly called a "promotional sweepstakes" structure. The key legal distinction is in how entries are obtained, not how winners are determined. Juiced Bucks — which are the sweepstakes entries — are always available for free (daily bonuses, mail-in AMOE), and purchasing Juiced Coins never increases your odds of winning. The prediction element is the mechanism through which entries resolve, but the sweepstakes classification is based on the no-purchase-necessary access to entries and the structure of the promotion, not the resolution method alone. If you are looking for a big company to compare ourselves to then Fliff is a good comparison since they are alsoa AMOE sweppstake but on a much larger scale. On the CFTC / regulation question: we are not a prediction market and are not regulated by the CFTC. We don't operate an exchange, we don't offer binary options, and users aren't trading contracts with each other. The sweepstakes model is structured under state promotional sweepstakes laws, not federal commodities or gambling regulations. We use the word "predictions" intentionally to reflect what users are doing, making predictions on sporting events as part of a promotional sweepstakes. On reserves and capital structure: we're a private company (Juiced Holdings LLC), so we don't publicly disclose financials like reserves, committed capital, or paid-in capital. What I can say is that all Juiced Bucks carry a fixed redemption value of $1 = 1 JB, and we honor all verified redemption requests. If you have more specific concerns about prize fulfillment, happy to address those directly.
Wanna make money on Hawkeye wrestling?
- Thread starter JuicedWrestling
- Start date
Thank you for the detailed response. I wish you luck with your business, but I would be reticent to bet with someone if I did not know their ability to meet their obligations. These bets clearly involve credit risk, but there is no way to evaluate that given your answer above. I am not aware that state regulators are equipped to monitor sweepstakes companies that incur liabilities greater than what they take in as entries fees, but I am fairly certain they have are not equipped. And given the LLC structure your, and your parents'/investors' assets, are off limits in the case your liabilities outpace your ability to meet them.
A secondary concern is that bets are likely to be one way. For example, no one on the Iowa board is likely to take Caliendo's opponent and the points. They will either bet Caliendo or not bet at all. Ditto for Oklahoma State message board participants and Oklahoma State wrestlers. This can create asymmetries that magnify the credit risk. How you manage this will be critical to your success, and ability to meet your obligations.
Dude, live on the wild side. Throw a dart at the board and bet $20 on whoever's name it lands on. Shouldn't be betting regardless of site if you aren't able/willing to lose the money. You're the guy I never want in front of me in grocery check out. Asking the cashier for infographics on each product's prices over time, breakdown of inputs that contribute to final pricing.... and then I have to friggin wait while you go swap soup cans hoping for better infographics.
J/K (mostly), I appreciate analytical minds, which are seriously lacking in today's world.
I promise you I am not that guy at the grocery store. I too hate that guy. Self check out all the way.
That said, I can't turn it off. I spent too much time in the derivatives market to not think about risks; price, leverage, and operational. A lot of times it was the leverage and operational that got people, not mis-pricing.
And these things make me think of a couple of quotes from various people I have worked with:
"It's not about the money. It's about the f'in money."
"One man's confusion is another man being intentionally vague."
Historically, my gambling has been poker and street craps. Games where the odds are true and the money is already on the table.
I'll talk to management and see what I'm liable to disclose.
Just give us the mobsters name fronting this
Brother, aint no mobsters in wyoming lol.Just give us the mobsters name fronting this
There's mobsters everywhere, but they don't much look like the movie stereotypes anymore. Caveat emptor.
its not gambling guys its sweepstakes, its totally different. plus you get a free 10 dollars to start and one dollar every day after that to fund your wrestling predications.
This sounds totally legit and not a scam at all lol. I send money to complete strangers over zelle/venmo all the time. That's how I paid a Nigerian prince and he's sending me a ton of gold. He says it's in the mail right now!