|West Paterson, NJ, January 30, 2003 – Interactive Systems Worldwide Inc. (NASDAQ SmallCap-ISWI) announced today that ukbetting plc, a strategic partner to its wholly owned subsidiary, Global Interactive Gaming (GIG), is launching ISWI’s SportXction wagering system on a second web site, ukbetting.com. Ukbetting plc had previously introduced SportXction on their Totalbet.Com web site as “white label” product called totalbet live. Ukbetting is the leading Internet sports content and wagering web site in Great Britain, with 138,000 current subscribers. |
Ukbetting has commenced an aggressive marketing campaign to introduce our system as it continues to expand the market for this unique service with its growing customer base. This second launch of the system follows the successful implementation of the product on ukbetting's totalbet.com web site. Totalbet.com offers their customers the most comprehensive in-run betting service available to the public, with over 100 different wagers available during the course of a live football match.
Eric Semel, CEO of ukbetting plc commented, “Following the success of the ‘totalbet live’ project it was an easy decision to extend a similar service to our ukbetting.com customers. Patterns of play suggest that people really love this new service, they log-on, stick around and our statistics show that players are coming back time and again. What we’re doing here is really exciting; it’s changing the way people bet and demonstrating that ukbetting continues to lead innovation in the sports betting market.”
‘Ukbetting live’ was soft-launched on the ukbetting.com sit for the Worthington Cup Semi Final on the 21st/22nd of January. Thus far, live bets have been offered on both totalbet.com and ukbetting.com for UK football matches and international football contests. Wagering on international cricket will commence in February, on the World Cup. Both sites will also offer living betting on four FA Cup football matches in the near future.
Barry Mindes, Chairman and CEO of ISWI stated, 'We are very pleased to announce this second product launch with our partners, ukbetting plc. Now customers of both totalbet.com and ukbetting will be able to bet live, in real-time, throughout major televised sporting events in a way that no other wagering service can match. We are also most gratified that Mr. Semel, CEO of ukbetting plc has chosen to comment so favorably upon our system in his recent press release. With our product's proven functionality and player acceptance, we look forward to expanding our product into many additional markets, such as rugby, tennis, golf and horse racing, as we continue to set the standard for the future of interactive sports wagering.
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 to it on the 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 pass, is the next pitch a ball or strike, does the shooter make two foul shots, and many more. The wagers have odds associated with them, which relate to the probably 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. The next release of the System, due this spring, will allow wagering upon propositions with multiple potential outcomes, such as which player will score the next goal, instead of propositions with only two potential outcomes. Such betting propositions usually have much higher payouts to the winners, greatly preferred by the players as each potential outcome is only one of a larger number of possibilities.
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 operating 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 operating the SportXction™ system on four sporting events while interconnected with users playing the game via interactive television, the Internet and mobile phone. GIG envisions potentially running over 1,000 sporting events per year in Great Britain alone when the service is fully mature. GIG currently has a staff of 15 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 2003; whether the agreement will generate significant revenue for ISWI; and the number of ukbetting customers who will utilize the SportXction system for placing wagers. 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.
Direct Dial 757.549.0789