Canadian born Francisco Diaz-Mitoma is the owner of a new online gaming service called Titan Gaming Inc. With his new innovation, console and computer game player will be able to place bets on the outcome of multiplayer games online.
It functions in the exact same way as sportbetting, except the games are played by regular people. So, gamers playing FIFA 2010 or NBA Street – and even Halo – can play for real cash. The prize pool would be created by the players themselves, who all pitch in anywhere from $5 each before the tournament begins. Various sponsors can also host tournaments, creating even larger prize pools for contestants.
Diaz-Mitoma has always been a fan of playing console video games, but had a lingering yearning to add more excitement by placing wagers on his games. A system had never been put in place to make this possible so, the McGill graduate decided to create his own.
There are several platforms in place online that organize multiplayer video game tournaments, like Xbox Live and Wii Online. However, none of these systems offer cash prizes and Diaz-Mitoma will be filling a void in the video gaming industry.
While North American online gambling laws are still uncertain, investors in Diaz-Mitoma’s project have not been deterred. Already, MP3.com and PriceGrabber.com have signed on to the team, and hope to make this dream a reality sometime over the course of the next year.