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Reverse Auctions Now Licensable

Though online casinos and internet betting are still questionable pastimes in South Africa, gamblers are still able to play the lottery and SMS games. Million-2-1 recently announced that it will finally secured a patent for it reverse auction games – which means South African gamblers will soon have more companies offering the gaming format, but they can rest assured that it Million-2-1 will maintain the integrity of the game to all who license its format.

South Africa is an emerging online casinos and betting industry, and though the government has yet to create firm legislation on internet gambling – auctions are legal. Million-2-1 created a reverse auction format and the game has gone over exceedingly well with online casinos gamblers looking for new options.

The basic concept is this: Million-2-1 offers a “How Lo” game with a specific prize. Bettors then compete to place the lowest bid on the item – the one catch though is that the player who wins places the lowest unique bid, which can make the whole process a bit trickier.

Million-2-1 has fought for a patent for this gaming format despite assertions from other industries (online casinos, and other gambling operators) that the gaming format is open to others to use at will. The Director and Co-founder at Million-2-1 is pleased with the patent and remarks, “Securing a patent for the reverse auction mechanic in South Africa is a significant business step for us. It gives us the opportunity to enforce our own strict consumer centric values on how reverse auctions are executed. This is a cornerstone to offering a game that appeals to everyone, has longevity and is operated within the local regulatory framework."