with the Ap and UB scandals and all - I got to thinking about..'is there a way to set up an online casino that would assure fairness to the players' and..'maybe even be legal'? two possible structures: "cooperative" and "mutual company" - cooperative - as in your friendly neighborhood food coop - run same as a for profit business - (non-members can play - same as members) but - the coop members own the company - anyone can join for a nominal fee - and - any profits are disbursed to the members according to the amount they spend at the coop - (amount the player wagered) - a coop could restrict play only to paid up members - if needed to meet legal requirements - mutual compnay - as many insurance companies are set up - the 'policy holders' (players) - are the owners of the company - no structural changes allowed except by player vote - any profits disbursed to the 'owners' (players) advantage to both structures - no profit retained for any individual - player control of structure and management (works for the players) - and no incentive for the company to scam/cheat the players - profit is derived from the players, and is returned to the players - smallest possible house 'edge' as result - no incentive to offer less than fair game - of course, still possible for an individual to cheat/scam - but - casino has a motivation to prevent/control this - any legal experts who might want to offer an opinion if one of these strucutres would be legal under the UIGEA? If only games of skill (poker, bj, tbj, poker tournaments) were offered? think about it
