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Gambling.co.uk: Gambling News Archive

Unique Irish Game Exchange Software To Blow Open USA Gaming Punters With Patent Win

An Irish Gaming software company has just received notification of an exclusive US patent allowance for its revolutionary new gaming exchange system which aims to provide users with unique access to a hitherto untapped American sports betting market worth

Wednesday 30th January 2013

Tuesday January 29th FAO: Business Desks, News Desks, Sports Desks An Irish Gaming software company has just received notification of an exclusive US patent allowance for its revolutionary new gaming exchange system which aims to provide users with unique access to a hitherto untapped American sports betting market worth an estimated $380bn per annum. This month, Dublin based Marketmaker Software has received notification of patent allowance from the United States Patent and Trademark Office (USPTO) for its Oddsfutures.com platform, an odds exchange game which allows users to take a punt on the progress of sports team or athletes in the same way they would normally invest in a stock or a share. The American Gaming Association has estimated that the unofficial US sports betting market (including handicap and spread betting) is worth up to $360bn per annum. Currently, sports betting is only legal within the State of Nevada. “Although the newly patented Oddsfutures.com site bridges the gap between financial markets and sports, the core exchange software is also interchangeable as a fully-fledged betting exchange and is totally unique in that it is completely deployed in the cloud,” said Marc Butterly, CEO. “Oddsfutures.com is a new approach to sports entertainment targeted at sports loving punters and anyone who plays the stockmarkets.” “If you’re used to placing stakes on the future performance of Apple or oil, it is a natural progression to do the same with your favourite football team.“ Because the Oddsfutures.com site turns sports lines into commodity futures, it is a game of sports skill and therefore legal in the USA; unlike other services, such as the highly successful but controversy embroiled Intrade.com. Marketmaker Software's exchange platform will also make its b2b sales trade debut at ICE Totally Gaming 2013 in London on February 5th. Mr Butterly says the notification of the Oddsfutures.com patent means that Marketmaker Software can now proceed to the next step and select a larger gaming partner to commercially licence the cloud based exchange platform for betting exchange purposes. Mr Butterly added that Marketmaker Software would be seeking exclusive initial licensing agreements and revenues of up to $2m per annum from gaming software companies looking to integrate a betting exchange into their offering. California has recently licensed 3 operators to offer betting exchanges with plans afoot for New Jersey to follow suit and do the same. The cloud aspect makes the exchange platform much cheaper to integrate, operate and maintain than any existing platforms. The company is offering their proprietary technology and expertise on a turnkey basis. “This will result in savings of at least $10m per annum for any newly licensed US exchange,” said Mr Butterly, who pointed out that IT costs at non cloud based exchanges can run into hundreds of millions per annum. As a value add the platform can also be integrated on demand with our other proprietary applications such as a fully PCI DSS compliant cardholder environment.” Meantime, the recent acquisition of Betdaq by Ladbrokes for STG 30m, puts Marketmaker Software in a position of strength as the only remaining independent vendor of cloud based betting exchange software. ENDS




Source: OnlineCasinoNews

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