|New Deal With ukbetting to Provide In-Run Wagering to Mobile Users|
WEST PATERSON, N.J., May 12 /PRNewswire-FirstCall/ -- Interactive Systems Worldwide Inc. (Nasdaq: ISWI - News) announced today that its wholly owned subsidiary, Global Interactive Gaming Limited (GIG) has concluded a deal that opens up the highly advanced UK mobile telephone market to its unique play-by-play (in-run) wagering product.
The deal, concluded with wagering partner ukbetting plc, will see ISWI's patented SportXction(TM) software incorporated into a suite of betting services being marketed to key players in the UK mobile industry. ukbetting plc has already concluded deals with the UK's leading mobile operators who are making their betting services available to WAP-enabled devices through their wagering brands 'ukbetting.com' and 'totalbet.com.' This latest non-exclusive agreement commits ukbetting to incorporate the GIG service into these existing offerings.
As with the successful existing Internet partnership, ukbetting will share mobile-generated in-run wagering revenues with GIG while bearing the cost of promoting the service. GIG will provide the operational and technical integration capability from within their existing resource.
The UK's sophisticated mobile telephone user-base has always been regarded by ISWI and GIG as a key market for its in-run wagering product as it will enable consumers to bet even when they are away from their digital TV set or fixed internet access. The service, the first truly 'in-run' wagering service available over mobile telephones, is likely to appeal to sports fans that attend live events themselves or, in particular, when watching major events in pubs, sports bars and other public venues across the UK.
Furthermore, this development brings the 'in run' TV wagering experience to anyone who has access to even basic television service. In effect, the mobile telephone replaces the interactive set-top box and allows the user to experience 'play-by-play' wagering while watching a sporting event from the comfort of their home.
The mobile market in the UK is one of the most sophisticated in the world with four suppliers providing services to approximately 47 million users, an exceptionally high rate of penetration. The UK regulatory body for the Telecommunications Industry, Oftel, estimates that 68% of adults in the UK own a mobile telephone and that already over 12% of all adults own handsets with the technical capability (WAP or GPRS-enabled) to use interactive services such as wagering products including the SportXction(TM) product, a figure that continues to grow since virtually all replacement mobile telephones available in the UK are WAP and/or GPRS-enabled. (Statistical source: Oftel, October 2002).
This latest announcement by ISWI follows hot on the heels of a recent deal to make the SportXction(TM) software available through the UK's largest digital TV supplier, BSkyB, courtesy of a deal concluded with their wagering subsidiary Sky Bet.
Commenting on this latest announcement, ISWI President, Bernard Albanese, said, 'Concluding this deal means our in-run wagering software will be available over three digital platforms; the Internet; interactive digital TV; and, now mobile telephones. We had always regarded such a diversification of our distribution channels as a key strategic objective and everyone at the Company is pleased to have achieved this ahead of schedule, within nine months of ISWI purchasing GIG.'
About ukbetting plc
ukbetting plc (AIM: UKB.L) is the UK's leading digital wagering operator. Listing on the Alternative Investment Market in August 2001, ukbetting has since pursued an active acquisitive strategy and now owns and operates four sports content sites (sportinglife.com, sportal.com, bettingzone.co.uk and TEAMtalk.com) and two wagering sites (ukbetting.com and totalbet.com). Through these sites it is possible to find in-depth information, and place fixed-odds bets, on a variety of sports including horse racing, football, cricket, rugby, tennis, and many more. At the last financial results in March 2003, betting customers stood at approximately 133,000 and the combined unique users for the sports content sites number 3.5 million per month.
SportXction(TM) 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 a pass, is the next pitch a ball or a strike, does the shooter make two foul shots, and hundreds 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 and has the capability of being delivered across a range of digital media including the Internet, digital TV and mobile devices. The next release of SportXction(TM), due this summer, 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 as is currently the case. 'Multi-sided' betting is a common type of betting available in the UK market.
About Global Interactive Gaming Limited (GIG)
GIG, a wholly-owned subsidiary of ISWI, has a license from ISWI to market, integrate and operate the SportXction software and through GIG's wholly owned subsidiary, Brightform Limited, which has a British bookmaker's permit, is able to offer full betting services. Occupying the entire thirtieth floor of Centre 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. GIG envisages 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 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 will generate significant revenue for ISWI; the number of mobile and/or WAP or GPRS users; whether the multi-sided version of the SportXction product will be launched in the Summer of 2003; 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 the actual results may be different from those contained in these forward-looking statements. Additional risks and uncertainties are detailed in ISWI's filings with the Securities and Exchange Commission, including but not limited to its Form 10-KSB for the year ended September 30, 2002.
For further information, please contact Barry Mindes, Chairman, email@example.com , or Bernard Albanese, President, firstname.lastname@example.org , both of Interactive Systems Worldwide Inc., +1-973-256-8181; or Investors, Matthew Hayden, President of Hayden Communications, +1-843-272-4653, email@example.com , for Interactive Systems Worldwide Inc.
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