Trying to make a mark as digital content provider
Last July, Consorteum Holdings decided to expand its business of providing digital content across all mobile phones. In this respect, the company formed the wholly owned subsidiary ThreeFiftyNine Inc. in August to commercialize new business opportunities in digital transaction management.
On April 22, the subsidiary initiated the New Partner Program under which it will provide services and solutions for the development and deployment of digital and mobile applications to existing as well as new partners. Currently, ThreeFiftyNine is targeting mobile gaming and wagering companies; however, because of its secure financial transaction platform, the subsidiary thinks it can expand its services to other applications.
Mobile gaming opportunities
Gamers are shifting from consoles and preinstalled PC games to mobile devices such as smartphones and tablets. In 2014, game-playing on mobile devices globally is expected to increase by 20% year over year. Mobile gaming popularity also increased in the U.S. in 2013, and the trend is expected to continue. Revenue from mobile gaming in the U.S. is expected to reach about $3.2 billion this year in comparison to about $1.78 billion in 2013.
As mobile game-playing is growing, many popular electronic games’ mobile platforms are getting released. Keno is the one such popular electronic lottery game. Last year total sales of this game in the U.S. were about $3.2billion. Xpertx, a recognized leader in Keno gaming service since 1987, is starting to provide a mobile platform for the game, and for the same purpose it has entered into a binding agreement with ThreeFiftyNine. ThreeFiftyNine will enable XpertX to deliver mobile content to any kind of mobile handsets regardless of the operating system. With this agreement, players will be able to play Keno on mobile for the first time and also have access to results of Keno games played in casinos and Keno parlours across the country. As XpertX is the most popular Keno gaming service provider in the U.S., this agreement will provide potential upside for ThreeFiftyNine’s revenue. In addition, the company is expecting to enter into an agreement with mobile gaming companies this year, which will further improve its position.
Betting services by mobile is another growing prospect
Betting through mobile devices is continuously increasing, especially on sportsbooks and exchanges. Sportsbook is a place where gamblers can wager on various sports events. By 2017, wagering on sportsbooks is expected to reach $45 billion and wagers for all kinds of gambling through mobile devices will reach $100 billion, up from $20 billion in 2011. Mobile betting in the U.S. is also rising after the U.S. Department of Justice has reopened remote gambling in 2011, which was previously opened for just sporting events. After this verdict, several started giving permission for such services. In remote gambling, the person can participate by remote communication such as Internet, telephone, television, or radio.
With the growing popularity of mobile betting, ThreeFiftyNine Inc. is trying to enter into an agreement with the bet-brokering service providers. Last month it entered into a binding agreement with Bet Clearer Ltd., the parent company of Bet Butler. ThreeFiftyNine will develop mobile offerings for the latter’s web-based betting concierge service. Bet Butler is a global bet-brokering service that acts as a middleman between gamblers and bookmakers. It deals in popular sports such as football, horse racing, rugby and tennis. ThreeFiftyNine is developing a mobile version of Bet Butler’s service and is expected to release it in the fourth quarter of 2014. This mobile-based service will help Bet Butler’s clients bet from the bookmaker with the best price. Since betting through mobile devices on sports is increasing, this agreement will provide potential upside to both companies.
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