Mobile betting news

New Wave Mobile Inc. to Enter Worldwide Alternative SMS Lottery Business

On November 27th, New Wave Mobile Inc. announced that its 100% acquisition of WagerPhone Inc. is well underway and expected to close in the near future.

According to World Lottery Association, River City Group, Bear Stearns, E-gaming Review and The Lottery Insider, the global gambling industry's end-user value is estimated to be $350 billion with a yearly growth rate of approximately 20% .

With huge eminent opportunity for the emergence of new technologies, WagerPhone is positioned to grow aggressively in this profitable global market.

"There is no question that a number of leading online gaming companies have suffered severely due to this new legislation. However, this only provides our firm with a greater opportunity," said Marc Askenasi, President of WagerPhone Inc. "Our solutions can be used as both powerful and effective tools by governments as a means to combat illegal online gambling from the ground up," he continued.

"By offering our solutions to existing regulated national and state lotteries, they can meet the needs of the Internet gamblers, while remaining in control of the content and thereby regulating the industry," Askenasi said.

WagerPhone solutions will be providing consumers more convenient and non-time consuming methods in purchasing lottery tickets and scratch cards by using SMS, J2ME, Brew, WAP, Interactive Voice Recognition (IVR), and Online technologies.

"Although we do not expect the US market to adopt new technologies for the sale of lottery tickets via online and mobile devices in the near future, we have already seen signs by certain states based on their progressive legislation in this field. While the US remains a market that we would like to embrace, we are currently focused and have been working on jurisdictions where national lotteries are ready to go to market," stated Askensi.

With the ability to extend their existing services, WagerPhone focuses on providing national and state lotteries. Accordingly, WagerPhone's value proposition is that lotteries will sell more tickets, reach new demographics and decrease their operational costs, while people will have the ability to play any game, any time, anywhere.

 

Thursday, December 07, 2006

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