XY Gaming is a transactional platform that adapts to any video game on PC and gaming consoles, allowing online gamers to compete against each other for cash. Gamers register with XY Gaming, place funds into escrow, issue or receive challenges and then play. The XY Gaming systems verify the results, take an admin fee (about 11%) and the proceeds are transferred to the winners account.
A key point is that the law draws a distinction between XY Gaming’s “skilled gaming” and casino style gambling. As a result, it attracts less regulation.