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Betfair Social networking
10/26/09 - Industry sources are abuzz at the news expected later today (Monday) that online gambling giant Betfair's Australian operations are about to make a major investment in the social networking provider Watercooler, an Internet start-up that has registered 26 million users in only two years.
Watercooler offers some 600 online applications, mostly for American sports teams, where its members can exchange views on favourite games and players.
Millions of English football fans are currently using Watercooler applications on Facebook. Watercooler makes its money from advertising, subscriptions to premium content, such as live score tallies and sports merchandise.
Sources indicate that Betfair will likely to use the Watercooler technology to introduce more social features to its online presence.
Betfair has more than 2.5 million registered customers in 140 countries and pioneered exchange betting, later moving into othr online gambling sectors. The betting firm processes more than six million transactions a day, employs over 400 computer engineers and has an wokforce of over 1 600. The cmpay also owns the massive US-based horseracing wagering business TVG, and has invested more than $177 million in new games and technology in recent years.
In August this (2009) year the group reported a 29 percent jump in underlying earnings to $127 million in the year to the end of April, from revenues that soared 27 percent.
Betfair's involvement in Watercooler is as a leading investor in a US$5.5 million cash-injection exercise designed to fund further development of fantasy sports and social gaming on Facebook and similar Web 2.0 platforms.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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