Mobile betting news
Two Way Interactive Television Profits Smaller Than Expected
On August 25th, 2008, interactive television games are not performing as well in the Antipodes as one originator, Australia's Two Way Limited, had hoped. But recently debut wagering services through the television have met the company's goals. Stating its full year results, Two Way commented that profits from the company's interactive mobiles channels on Foxtel, Austar and Sky New Zealand were way below expectation, especially with the 2nd half of the 2008 fiscal year. With interactive gaming, players can play even if they are in their homes and place bets with the use of their phones.
To solve the issue, Two Way commented that it had debut some promotional initiatives like the launching of brand trivia games with well-known partners like the Australian Football League, National Rugby League and Music Channel Max. The games will also be extended from pay-Television to the Internet; with a soft launch of a modified games portal which Two Way will improve their value to their broadcasting partners and sponsors. But the game will only be second compared to Two Way's main priority-the mobile gambling service, Sky Racing Active.
The 1st two months of the gaming offer saw a total turnover and profit from the service to meet the company's internal goals. The marketing of the service has been limited so far with a minimum number of events over winter. A bigger focus will come with the beginning of Spring Racing, which is one of the busiest periods in Australian Horse Racing. But a problem is that the only the state of Victoria allows viewers to make wagers through the television.
While Foxtel and Opus Television subscribers in New South Wales and Victoria can access detailed race and betting information through their televisions, only the Victorian account holders of Tabcorp can access their accounts and place wagers. Two Way Chief Executive Officer Ben Reichel said that the initial performance made by Sky Racing Active service is good. He added that they are very happy with reception on the service.
But the importance of the television betting platform to Two Way's business is a big risk for the organization. Should the remaining 6 states and territories hold out against permitting wagering through television, it could be difficult Two Way to break even. As well as the television betting business, Two Way manages the Way2Bet online and mobile information portal for bettors. The company stated that Way2Bet performed admirably in the 2nd half of the year and was producing good sales. While total revenue for the 2008 was acceptable, this service has smaller upfront and ongoing expenses than the company's previous activities in the Asian region.
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