Forum Archive Index - July 2001

["nick" <helmett@xtra.co.nz>]

 eBet recently licensed its  internet wagering technology

to Penn (penn national gaming.)  This company is listed

on the nasdaq (PENN)  The shareprice of this company

has more than doubled in the last four months.

          The exclusive ten year deal means that eBet will be

paid between 2-3% of Penns wagering turnover on the internet.

     eBet estimates that  that Internet race wagering will represent

5-10% of the total US market within the next 2-3 years.

A not unreasonable figure when comparing it to the NZ and

autralian experiences.  It is a new concept in the US and there

is little competition.

          eBet are providing the spades and Penn are doing all

the digging.

Penn is responsible for all establishment and operational costs.

Revenue upside for eBet is enormous and its risks virtually zero

    The initial service was launched only a few months ago and

turnover is already achieving apx 800,000 aus dollars a month,

this achieved with very little marketing etc.

         It gets better ,  Penn are intending to create a number of

wagering sites in partnership with leading brandnames. Playboy

being one  https://racingusa.playboy.com/   Note the similarity

with our own TAB site  http://www.tab.co.nz/

     Now the great thing about this is that eBet is paid development

fees for customising these sites and is then paid 3% of

turnover from these sites. Again Penn is responsible for all costs

so the downside for eBet is virtually zero.

     With US race betting turnover apx  30 billion oz a year

(and growing!!) the potential is immense, especially considering

they are behind NZ and OZ in terms of internet betting.

      eBet are in at the start and are providing the tool to enable

others to make money for them at very little risk to themselves.

   When you also take into account eBets other operations,

ie cashless pokie machines a picture begins to emerge of a

company with enormous upside potential, which is just

beginning to gather momentum. Further more this momentum

is yet to be reflected in the shareprice.

          For a full list of fridays announcements goto

 

http://stocknessmonster.com/  and look for ebt on ASX

as full announcement not available on NZ quote