Potential sale of MultiBet.com
By staff
Northern Territory, Australia: Online wagering expert Mr Terry Lillis, who founded Centrebet in the early 1990’s to become the world’s largest internet sportsbetting site up to its sale in 1998, has indicated that two publicly listed companies have indicated a prospective takeover of his latest internet venture, Multibet.com.

Centrebet commenced trading in late 1992, and was sold to Australian publicly listed company Jupiters in November 1998, at which time it was the largest sportsbetting site in the world.

MultiBet.com, which is licensed by the Northern Territory Government, was launched in August 2002 with a unique business model. It ignores singles betting, and focuses on the high-end sector of the global bookmaking market that is multi-betting.

“We are pleased with the intense interest exhibited by both players and other internet gambling businesses regarding MultiBet.com. We are currently on an enormous growth curve, and in terms of an acquisition, would always consider offers from other companies to purchase our business or amalgamate and work together,” said Mr Terry Lillis, Chairman of MultiBet.com.

“Potential purchasers experienced in this business would know that we are able to capitalize on our experience, innovation and e-commerce excellence with Centrebet, to offer an internet multi-betting site with global reach, the best odds for players and future lucrative returns for an investor with minimal risk.”

MultiBet.com offers proprietary sports betting software that is simple to use and easy to develop for an operator. There is also access to a large network of offshore contractors and suppliers throughout the world, in addition to a multi-betting product line that could be separately branded and licensed to land-based venues for internet punters.

Mr Mike Miller, CEO of MultiBet.com commented: “Our aim at Multibet has been to offer the most competitive pricing for our punters, in addition to growing our product range using technology rather that human resources.”

“To this end, we offer sportsbetting and racing, and are extending to financial betting - but we only offer bets on events that we can settle within seven days to maximise turnaround for our punters,” he said.

A key component of the MultiBet.com business is risk management and low overheads. Their margins are consistently competitive compared to other bookmaker or bet exchanges, so the prices are typically better for the punter.

“Our strength is our economies of scale, meaning that we have developed a high-end model for the future, with robust software and back-end facilities. We can move forward with technology at minimal cost with few staff required for continual growth,” he said.

In less than one year, MultiBet.com has acquired over 6,000 account holders, who can bet on 1,500 sports betting events per week.

Mike Miller added “We believe that we are the best site for multi-betting in the world in terms of ease of use and speed – and only one player has ever queried how to use our software.”

In terms of future capabilities, the software was built with various platforms in mind such as the Internet, SMS, WAP and digital TV betting.

MuliBet.com applies the same analytical approach to target marketing that served them so well at Centrebet, and at other gambling businesses with which the group has been associated. This approach relies on the weighted rating of a set of twelve online betting ‘acceptability and practicability’ factors in each country.

MultiBet.com expects to increase the number of sporting events available to 3,000 by August 2003, when the next Northern Hemisphere season commences, including the English Premier League, European ice hockey, and NFL in the USA.


- ends -


For further information contact:


Mike Miller, CEO Multibet.com Cell: +61 427 478 138, email manager@multibet.com, or

Terry Lillis, Chairman Multibet.com Cell +61 418 855 684, email terry@multibet.com.

 
 
 
 
 
Online Casino News.com provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.