To: SCOOBEY-DO (256 ) |
From: SCOOBEY-DO Sunday, Jul 5 1998 9:15PM ET
Reply # of 2319
To all, This is more information provided by Tom Hughes, CEO of Betting Inc. to keep you informed about the progress of BETT.
"The present plans for Betting Inc.are dependent on the release later this month of the first Pay Master terminals at Shop While You Wait locations.
"By July 17th, we (ET&T) are expecting the color proofs of the 24 page Shop While You Wait catalog. In this catalog, a major baseball team will be featuring some of their sports merchandise. The rest of the catalog will feature upscale products ranging from kitchen to outdoor items. The baseball team is now approving the press release and we hope to release it within the next 10 days. Betting Inc. will be part of the press release.
"By July 27th, the first of 100 free terminals will begin to be deployed into the marketplace and will be located at high traffic locations where people find themselves waiting.
"These locations would be such places as medical offices, hair salons, hotel lobbies, airport lounges, employee lunch rooms, etc. While waiting, they can shop with their credit card or ATM card with PIN from the printed catalog. We, the JV, generate 8% of each purchase, the location generates up to 2% of each purchase and the sales force who placed the free terminal will generate up to 3% of each purchase.
"These terminals can also be used for opening or replenishing gaming accounts- which is legal and is done every day by credit card. Now, the player will pay a flat fee of $6 and use their ATM card with PIN or stored value smart card (which doesn't exist yet). In 8 states, such as Pennsylvania, the terminal could legally be used to pay per play an Off Track bet as home bets are placed every day.
"From a logistics viewpoint, before a gaming operator can be paid by an ATM card with PIN, they must first be sponsored by a member bank within one of the ATM networks. This is no different than the sponsorship required for a grocery store etc.
"On our web site (www.hpos.com), we will be putting up a new page directed towards the need of USA based gaming operators to be sponsored in order to receive an ATM card with PIN transaction.
"Once a gaming operator such as Ladbroke, who is presently undergoing sponsorship by Mellon Bank, is approved, then a Shop While You Wait terminal can move cash to the sports operator.
"The transaction is driven by ET&T and gated by Betting Inc.
"The same business strategy can be applied to the United Kingdom, where we are presently in discussions with a potential partner who will play the same role that Unicomp plays in the United States.
"Once we (ET&T) have a stronger funding position from our 504 D, we can then begin to negotiate from a stronger position."
Well gang, What do you think of Betting Inc and ET&T's progress at getting these companies going. It sounds real exciting to me. I am glad the Mr. Hughes is taking the time to keep us informed. Go BETT!! Happy investing. Scoobey