Mobile betting news
Taipei Fubon Bank Offers Sports Lottery, Online And Mobile Betting
The Taipei Fubon Commercial Bank, the first sport lottery operator in Taiwan, introduced on May 2nd, 2008, an everyday day draw on 6 specific gambling themed games as well as Web and Mobile Gambling Games by the middle if June that could offer their customers at least 7,000 games annually.
Richard Yang, the head of communications at Fubon commented that the sports lottery will feature both the NBA and the Baseball League from the U.S. as well as the baseball league in Japan and the Football games from Europe. Some of the games that the lottery will feature are 1st, the Handicap Point Special, which is a wager that the underdog will win in the competition. 2nd, the Home, Away and Draw, which is a wager on which home or visiting soccer group will win. 3rd, the Winning Margin, which is wager on the score margin of two opposing teams.
4th, the High and Low wager, which is a wager on the overall score of the two opposing teams. 5th, the correct scores, which is a wager on the final score of the two opposing teams and 6th, champion, which is a wager who will win the championship and the best players that will be considered in the game. The sports lottery is also expected to offer coverage for local baseball games by August 2008 into two one-of-a kind games called Triple Point and Paramutual Pull, which will link wagers between two local opposing teams in order to deal better with game ringing.
Fubon is expected to earn NT$1.07 billion in profits this year but the yearly profit of the company could improve to NT$30 billion by the beginning of next year. The starting wager will start at NT$100. Almost half of Fubon's assigned retailers will start selling sports lottery tickets on the 1st day. Yang said that they plan to increase the number of retailer to one thousand by June 2008. He added that they also plan to start up an online wagering system and mobile betting system by the month of June.
Based on the existing structures from Hong Kong, the online wagering system is expected to provide forty percent of the total profits as soon as customers place their wagers with the use of their PCs or their mobile phones. But initially, retailers will still be responsible for most of the profits.
Adding that online and mobile betting system will not cut back on the profits of the retailers, Yang commented that each NT$100 spent on wagering, NT$75 will be given back to the winners of the lottery. NT$8 will be given out as a commission for total sales. NT$12 will be donated to a good cause and NT$5 will go to Fubon. But Yang said that a change on the existing sports lottery that will be discussed in the legislature could possibly scale down the amount that will be given to charity by 75 percent in order to help the local sports industry.
Yang said that on the long run, this new development could have a positive impact on the sports industry in the country. With online and mobile phone wagering, customers will be required to open accounts to Fubon and maintain a minimum amount of deposit to Fubon. This is where the bank will charge its commission to its patrons.
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