|Interactive Systems Worldwide Announces Launch Of |
'TOTALBET LIVE' With Ukbetting
West Paterson, NJ, November 21, 2002 – Interactive Systems Worldwide Inc. (NASDAQ SmallCap-ISWI) announced today that its wholly owned subsidiary, Global Interactive Gaming Ltd. (GIG), in conjunction with its new strategic partner, ukbetting plc, one of Great Britain's leading on-line sports content and wagering service providers, officially launched the new “totalbet live” product. The “totalbet live” system incorporates ISWI’s patented SportXction™ software into ukbetting’s online sports wagering services. This offering will now allow users to wager play-by-play on sporting events as they occur, in jurisdictions where it is legally permitted. Following successful live field trials, in which current ukbetting customers in the UK used play money to test the system, “totalbet live” is now available to customers using actual currency. The first event using real currency was successfully run on Wednesday, November 20th for an exhibition soccer match between Scotland and Portugal. This “soft” launch, in which the number of users allowed to play was limited, is the first in a series of eight games during which the number of users playing will be ramped up. The service during these initial games will be available only to invited customers to allow for final fine-tuning of system parameters to facilitate system speed and efficiency.
Assuming the system continues to operate without technical difficulties, it will be introduced into open access, with complete capabilities for all on-line customers, early in December. This full launch will be promoted extensively by ukbetting, using a variety of advertising venues, to all of its betting and sports content users.
Barry Mindes, Chairman and CEO of ISWI stated, “We are extremely pleased with the successful field trials and launch of “totalbet live”. The product was met with excellent reviews during its test trials. Customers described it in such terms as “quick hit excitement,” “user friendly,” and “will keep people interested for hours.” The partnership with ukbetting is a significant step in GIG’s business development strategy, which includes partnerships with existing companies in the wagering industry. As our system is primarily directed toward providing an entertainment experience, as opposed to a traditional wagering, our goal is to provide a unique interactive gaming platform that will enhance the enjoyment of sporting events by providing greater involvement in the contests. The initial launch was for soccer, with cricket being added in the spring of next year. We expect to add rugby, golf, tennis, automobile racing, snooker and possibly darts thereafter. We plan to schedule, market permitting, as many as six hundred sporting events per year per country in the future.
The SportXction™ system is also being readied for use in conjunction with interactive television via satellite and cable, and for portable devices, such as mobile phones, PDA’s and the like. The Company hopes to have systems in operation for all of these delivery modes in the foreseeable future. They are intended to be available as white label products to business partners’ existing customer bases, and under our own brand.”
SportXction™ is a patented, real-time, software system, which allows a player to make play-by-play wagers on a sporting event while the event is in progress. Wagering may be conducted while viewing a live or televised sporting event, or listening by radio. The wagers offered are mostly oriented to short-term action, for example, is the penalty kick successful, is the next play a run or a pass, is the next pitch a ball or a strike, does the shooter make two foul shots, and many more. The wagers have odds associated with them, which relate to the probable outcome of the proposition being wagered upon, and the odds are adjusted in real time to balance the pool using proprietary artificial intelligence software to reflect player sentiment, as derived from the betting patterns. The system can be used with virtually any sport.
About ukbetting plc
ukbetting plc (AIM: UKB.L), the digital wagering operator, is the owner and operator of sports content sites sportinglife.com, sportal.com, bettingzone.co.uk and TEAMtalk.com, and the betting sites totalbet.com and ukbetting.com.
About Global Interactive Gaming Limited (GIG)
GIG was purchased by ISWI from international owners, principally the Kirch Group, a German multimedia conglomerate, in late July 2002. It had been established when the previous owners acquired exclusive rights, excluding Nevada, to the SportXction™ system for a minimum of $240 million in license fees, to be paid over 14 years. They had expended some $20 million in funding GIG prior to its acquisition by ISWI. GIG has a wholly owned subsidiary, Brightform Limited, which has a British bookmaker’s permit. Therefore, GIG is capable of offering its own complete betting service.
Occupying the entire thirtieth floor of Center Point Tower, the highest building in central London, GIG has modern, secure facilities, including game operations suites, a computer hub with communications services, system demonstration resources, plus offices to house corporate/administrative, operations, technical, maintenance, support, marketing and legal services. The facility is capable of simultaneously of operating the SportXction™ system on four simultaneous sporting events connected by multiple delivery modes. GIG currently has a staff of 18 and there is substantial room for expansion in the facility.
This press release contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including, but not limited to, whether the agreement with ukbetting plc and the SportXction system will be fully implemented during 2002; whether the agreement will generate a significant number of players or will generate meaningful revenue for ISWI; whether and in what period to time the system will be implemented for additional sports, multiple simultaneous sporting events or additional delivery modes: and the number of sporting events each year in each country for which the system will be in use Investors are cautioned that these statements involve risks and uncertainties and that actual results may be different from those contained in these forward-looking statements. Additional risks and uncertainties are detailed in the Company’s filings with the Securities and Exchange Commission, including but not limited to its Form 10-KSB for the year ended September 30, 2001.
Director of Media Relations
Hayden Communications, Inc.
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