Word: cybercasino
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...forged it by co-founding, with Ed Wray, London-based Betfair, the peer-to-peer cybercasino that has done for gambling what eBay did for garage sales. On Betfair there's no house; the site's 250,000 registered customers simply post their bets and wait for someone to take them on. Betfair charges a commission on each winning bet; the more you bet, the lower the commission. When the site was launched in 2000, with $1.8 million raised from Black's and Wray's network of contacts, it was taking less than $90,000 in weekly bets...
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