To: blkjk7 (245 ) |
From: SCOOBEY-DO Wednesday, Jul 1 1998 7:02AM ET
Reply # of 2300
The following was also sent by Tom Hughes, so we would have a better understanding of BETT's foundation:
"Betting In is founded on the following premises:
1. That by 2001, everyone who gambles today will have some type of phone line or wireless or computer device that will allow the payment of a bet by ATM card or smart card. This will be same day pay per play.
These PERFECT devices will have migrated into the home as a bill payment method for the banked consumers who will use their ATM card with PIN or as a bill payment method for the non banked consumers who will use stored value added cards to run bill payment and purchases from the homes.
The utility, phone, cable and other industries will spend hundreds of millions of dollars to educate their consumer base to not send checks if banked or to not walk into public locations if non banked.
These devices which are capable of moving instant electronic cash to pay bills will of course also be capable of wagering in real time.
2. That these wagering transactions will be originating from homes, offices, hotel lobbies, cars, in other words from locations that are remote from the gaming operator.
3. That these wagering transactions will be self serviced in that the player will not call and talk directly with the gaming operator but will instead simply set up their own transaction using a financial card such as an ATM card or a smart card to send real time cash to the gaming company.
4. That these wagering transactions are personal and encrypted and will be electronically sent to the gaming operators. The classification of this equipment is PERFECT equipment, that is, Personal Encrypted Remote Financial Electronic Card Transactions.
5. The present global wagering marketplace is an estimated 800 billion dollars per year which includes reported and unreported income. The projected global wagering marketplace in 2001 is 1 trillion dollars.
6. Of this marketplace, we project the PRFECT wagering market at 250 billion dollars. In other words, 25% of the wagering will be PERFECT wagers.
7. Since PERFECT wagers are remote and are effected without speaking to the gaming operator, then the gaming operator needs to know that a wager has been paid for, who has paid, what has been wagered, and the amount placed. The gaming operator then needs to respond back to the player with an acknowledgment of the wager.