|In what the company is calling a ‘pivotal milestone’ in its history, Interactive Systems Worldwide today announced that it has completed the development of the interactive television version of its SportXction play-by-play betting system. The new software system will facilitate a seamless interface between SportXction(TM) and the satellite television broadcast of its first interactive television partner.|
Mr. Barry Mindes, Chairman and CEO of ISWI, stated, 'The completion of the development of this unique product ranks as our corporation's most notable achievement to date, paving the way for the anticipated launch. When this product is introduced into service, as many as 10 million television sports fans will have the ability to register to bet through wagering accounts during the course of a sporting event, using their television remote controls.'
Mr. Mindes continued, 'We are encouraged by the recent trends and prospects for interactive television gambling identified in the September issue of IGWB. We believe that SportXction(TM) will lead the way in amplifying the entertainment experience of sports fans by allowing them to have a tangible interest in the event as it unfolds. This will open the potential audience for SportXction(TM) to a far greater population than just traditional sports gamblers. Acceptance by even a small proportion of this expanded potential wagering audience could lead to a very substantial new market, resulting in enhanced shareholder value.'
The completion of the system will allow the company to capitalize on the burgeoning iTV market, which is estimated to be worth $5 billion in online revenues by 2007.