News

VirtGame and STB Holdings to offer short-term electronic betting

September 19, 2004

Las Vegas -- VirtGame Corp., a provider of server-based software solutions to the regulated gaming industry, announced that it has entered into an exclusive agreement with STB Holdings, a private software company, to integrate STB's short-term events software into VirtGame's PrimeLine and Sports Bet Express (SBX) products.

STB (Short Term Betting) Gaming has developed a turnkey betting system that allows bettors to place wagers in real time, on varied and constantly updated betting options that run throughout an entire sporting event. STB offers wagering on the four main US Sports (football, basketball, hockey and baseball). If the demand arises, STB will also offer worldwide sports coverage (soccer, tennis, boxing, golf, etc.). The software provides a simple interface for odds-makers to publish live odds changes to any number of bettors playing on a variety of device options. The software accommodates end-user interfaces for kiosks, hand-held devices, and interactive TV. The platform can be dynamically adjusted for localization requirements such as language and currency.

The agreement grants VirtGame the exclusive right to integrate the STB software product into its PrimeLine software and SBX system, for marketing and operation anywhere within North America, anywhere VirtGame has an established customer location, and for interactive applications when and where approved by gaming regulators.

The contract is a three-year automatic renewable exclusive arrangement, which calls for an established flat fee or for a profit share on the net revenues realized for the hold on remote STB operations, subject to the approval of requisite gaming regulatory authorities.

"We believe that short-term betting is the obvious next step in the advancement of the sports betting industry," said Mark Newburg, VirtGame's president and chief executive officer.

"The software platform is flexible and easy to integrate with VirtGame's SBX, which is an approved remote wagering system utilizing established sports books and closed-loop networked kiosks. The integration of these two products makes for a highly powerful combination offering a truly compelling user experience while achieving a remarkably high hold percentage."