|Interactive Systems Worldwide have announced the completion of the interactive television version of their SportsXction play by play betting game. The new system creates an interface between the SportsXction model and satellite television broadcast of its partner. Now that development has been completed, the system has been delivered to ISWI’s first customer for tests to be conducted prior to the system going live.|
Next in line will be a live broadcast test, which is a requirement for the company to gain approval for using the product in television broadcasting. The completion of this phase is a huge achievement for ISW, who are keen to develop their interests in the interactive television arena. KPMG and Screen Digest Report have both predicted that by 2007 iTV will generate approximately half of the revenues raised by online gambling- currently valued at US$5 billion.
ISWI believes the strength of its new product lies in its play by play structure allowing small bets frequently, which will prove to be great entertainment for its players. Chairman and CEO of ISWI, Barry Mindes said of the achievement: “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. 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.'