|
News Archive
|
|
Online gambling expands into 'games of skill'
|
|
[2005-11-23]
|
|
|
A US firm has taken a £120 million stake in a Canadian firm which specialises in skilled online gambling games.
Games such as chess, 60-second solitaire and dominoes do not come under gambling rules as there is no betting involved, only the skill of the individual players.
The company, Fun Technologies, is expected to fill a huge hole in the lucrative online gambling market, in which British investors have recently taken a huge interest.
Lorne Abony, chief executive of the company told the Guardian: "Casino gambling grew from 1996 to 2001 but it is mostly now ex-growth.
"Online poker grew from 2000 to 2005 but it's gradually flattening out. If investors want to have a go with a growing industry, casual gaming is it."
The company has nine million registered users and its own site, Skilljam.com, as well as deals with major companies such as AOL, Virgin and Eurosport, which run its 'casual' gaming sites.
On these sites, the company takes 25 per cent of players' entry fees, with the rest going into a pot for players to win. The more players on the site, the higher the pot - and more revenue for Fun Technologies to share with its access partners.
The company also runs various fantasy sports competitions, including American football, basketball and ice hockey.
|
|
|
|
|
|
|