No-Risk Sports Betting Technology Development in the Server-Based Gaming Industry

January 21st, 2012

Is there really such a thing as a No-Risk Sportsbook? Answer: Yes

Anyone familiar with the bookmaking (betting) business understands there is always an element of risk when offering and taking a bet as a bookmaker. So when a few colleagues and I started specialising in developing No-Risk Sportsbook solutions back in 2005, it was a bit of an oddity to associate “No-Risk” with a betting business, and it’s still the same today. How could it be possible for a bookmaker to run his operations without taking any risk whatsoever, and make a profit on every bet win or loose - regardless of the outcome of the event?

Well, for us it all started with the introduction of Betting Exchanges in the late 1990’s, specifically, market leading online betting exchange Betfair, a company at one-time had a pre-float market valuation of £1.5 Billion. After doing some consultancy work for the Hammersmith, W. London based venture, about 250 strong at the time, and getting involved with the Betfair Developers Program, we started providing bespoke software development services to Betfair using the Betfair API. One project that comes to mind that we delivered in the early days was something called the Betfair Barometer - a project developed for the Betfair Strategy Team and their requirement to generate on the fly graphical and statistical data based on Live and Historical sports betting data:

Betfair had outsourced to me about a half dozen or so projects between 2004 and 2005, and from this experience and the newly acquired business intelligence in the betting exchange domain, larger projects started to land on my table which lead to the development of the first White-Label betting exchange developed targeting a specific niche - Cricket and the Indian Rupee Currency:

For 6-months, I found myself traveling back and forth from Paris, London, Kathmandu, Nepal, Delhi and Kolkata, West Bengal India where I had a dedicated software development team providing the services to deliver the solution. NOTE: Although the project delivery was a success, the operations of the system never got off the ground, and not a single bet was taken by the bookmaker/operator which the system was built for.

With the encouragement and support from Betfair, I and a small team of specialists consisting of an experienced Senior Technical Architect, and Product Manager embarked on designing and developing B2B No-Risk Sportsbook solutions through the entity BetXTech. Our model was to create sports betting solutions for operators that offered them no risk or liability on any bets taken through the system. We would accomplish this through the use of the Betfair API as outlined in the the following animation:

Our first product released in 2005 focused on the Retail channel was XC-EPOS (which stands for Exchange Cashier-Electronic Point Of Sale), a No-Risk Over the Counter (OTC) Sportsbook Bet Capture system:

The system was innovative and a first to market opportunity that allowed operators to take bets at absolutely no risk! This success lead to other opportunities and next up was the Self-Service Kiosk channel which we developed a working prototype in 2006 and showcased at the 2006 Birmingham Betting Show and received coverage in the Racing Post:

Our second product XSS-EPOS (which stands for Exchange Self Service-Electronic Point Of Sale) released in 2007 supporting trials in several high street bookmakers in the UK and Ireland, and officially launched as a commercial system approved and authorised by the Betfair in early 2008.

So there you have it in a nutshell - a bit of history on the origins of 100% No-Risk Sports Betting Solutions. My experience has since branched out to Self-Service EPOS Payment Systems for Casinos, namely, Voucher Redemption Terminals integrated with IGT EZ-PAY and Bally Technologies casino management ticketing systems:

This system has been deployed at multiple sites under the Rank Grosvenor Casino, G-Casino estate in the United Kingdom supporting their 24/7 E-Casino roll-outs.


Melcom Copeland, Senior Consultant and Advisor to the Board
BetXTech (IOM) Limited
34 Athol Street
Douglas
Isle of Man
IM1 1JB

t: +44 (0)20 8123 0968
m: +44 (0)7825 500 915
f: +44 (0)70 5348 1115
w: http://www.betxtech.co.im
w: http://xcepos.betxtech.com

BETXTECH TO SHOWCASE TURN-KEY NO-RISK SPORTS BETTING SOLUTIONS AND CASINO SLOT TICKET VOUCHER REDEMPTION TERMINALS AT IGE 2010

January 22nd, 2010

FOR IMMEDIATE RELEASE

Contact: +44 (0)20 8123 0968

em: info@betxtech.com

Date: 23 January 2010 em: info@betxtech.com

BETXTECH TO SHOWCASE TURN-KEY NO-RISK SPORTS BETTING SOLUTIONS AND CASINO SLOT TICKET VOUCHER REDEMPTION TERMINALS AT IGE 2010

– RETAIL SPORTSBOOK AND VOUCHER REDEMPTION TERMINALS

TARGETING AGCs, CASINOS, BINGO HALLS and LBOs –

LONDON, UK– 23 JANUARY 2010 – BetXTech, a niche focused software development and system integration firm, has announced it will be making its third consecutive International Gaming Expo appearance to showcase their No-Risk, Self-Service Sports Betting kiosk terminals, cashier and odds display systems. The company will also have on hand their casino slot ticket Voucher Redemption solution, an IGT EZ Pay and Bally Technologies integrated Voucher Redemption Terminal (VRT) for jackpot payouts.

BetXTech has been in the business of developing betting software the past 5 years, and has concentrated its efforts on delivering no-risk, retail-based solutions to adult gaming centres, bingo halls, betting shops and casinos. The company initially launched their first no-risk solution, an over the counter cashier betting terminal at the GIGSE 2005 show in Montreal, Canada, and thereafter deployed the solution for Malaysia’s Genting Group Star Cruises in 2006. It has since then commercialised innovative self-service sports betting terminals in 2007, and in 2008 added to their solutions offering odds display and results feed systems, as well as a casino payment solution. BetXTech’s client list is a diverse line-up consisting of split-licensed adult gaming centres and bingo halls as well as new and existing licensed betting offices and casinos. In the UK, the company boasts notable clients such as Rank Group Grosvenor Casinos, Shipleys Amusements (Shipleysbet), Noble Amusements (Noblebet), Talarius, Pat Potter Sports, Playland Holdings (Playbet), Betgeorge, Kings Gaming, Miragebet, BJs Bingo, and Casino Red as part of its growing deployment list. BetXTech is supplying its VRT solution to Tirana, Albania based Regency International Casino and Grosvenor Casinos in Leeds. The company deployed on the African continent its no-risk cashier system to Lusaka, Zambia based Playtime Limited Casino. Most recently, sports betting EPOS terminals were deployed in the Philippines with PAGCOR authorised agent outlets.

Since unveiling their XSS-EPOS no-risk sports betting terminal at the 2006 Betting Show in Birmingham, UK, the company has received lots of interest from the market about the innovative new model of providing operators solutions that are based on the No-Risk concept. This interest has come on strong more recently specifically in the AGC and Bingo Hall arena where operators are obtaining split premise licenses to operate also as an LBO in the same venue allowing them to compete with traditional local bookmakers.

European based casinos are also adapting towards the coin-less operation, and opting for the introduction of self-service voucher redemption terminals in order to leverage the many benefits the solution provides. BetXTech’s voucher redemption terminal supports slot machine gaming TITO (Ticket In Ticket Out) environments with slots and casino management solutions based on technologies developed by the likes of IGT, Progressive Gaming International Corp, and Ballys Technologies for instance. Slot machines equipped with Future Logic GEN2 printers integrate seamlessly with the VRT terminals which are cable of processing jackpot vouchers through IGT EZ-Pay using JCM American Corporation’s UBA Series validator and high volume cash dispensers using different currencies and denominations.

The boutique firm made the decision to exhibit again in this year’s new IGE show in order to seek out strategic partners interested in distributing the company’s no-risk sports betting and voucher redemption terminal solutions. The company is actively seeking Server Based gaming developers and Fixed Odds Betting Terminal suppliers to collaborate with. It also hopes to meet existing customers and new prospects interested in learning more about no-risk sports betting and self-service voucher redemption payment solutions.

BetXTech will be showcasing its solutions at STAND #4080 at the new International Gaming Expo from 26-28 January 2010 held in London’s Earls Court Exhibition Centre.

ABOUT BETXTECH

BetXTech, headquartered in the Isle of Man specialises in providing betting applications that enable no-risk Sports Betting for adult gaming centres, bingo halls, casinos and bookmakers. The Company’s management team consists of experienced operations, software development, and finance personnel who collectively have over 20 years of online gambling and sports wagering software development. For more information, visit http://www.betxtech.com.

BetXTech - CashXTech to Exhibit at Preview UK 2010

September 3rd, 2009

BetXTech (IOM) Limited will be exhibiting along with partner company CashXTech at PREVIEW 2010 in the UK.  The two companies will be showcasing innovative No-Risk Sports Betting Solutions including Over the counter Bet Capture systems, Self-Service Betting Kiosk Terminals, mobile betting, as well as slot machine jackpot voucher redemption terminals integrated with IGT EZPAY and Bally Technologies casino management ticketing systems.

BetXTech - What is a No-Risk Sports Betting Solution?

August 24th, 2009

Here at BetXTech, we have an innovative approach in offering No-Risk Sports betting to Operators who prefer NOT to take on the burden of creating and monitoring markets, taking on risk and managing liabilities of a traditional sportsbook. Our No-Risk sportsbook solutions cover several channels including EPOS bet capture systems for over the counter (OTC) betting, self-service kiosk terminals for anonymous betting, mobile devices and the web.

Here’s how it works:

We provide a ‘white-label’ solution (through one of the above mentioned channels) that allows you to offer a sportsbook at no risk or liability on bets which are passed directly onto the Betfair Betting Exchange platform at http://www.betfair.com

Our system allows you to put a ‘margin’ on those odds/prices offered on the Betfair Betting Exchange, and you in turn offer the resulting odds/prices to your customer at no-risk to you. Your profit comes from the margin based prices and also on % stake that a customer bets as our software allows for this through the model. You want your customers to win bets and win big since you also win as your customer bets are passed through your betting account with Betfair - this account (a.k.a. an aggregator account) acts as a bank or float so you can accept bets through your site.

For use of the Betfair data including sporting events/markets, and odds/prices all automatically generated through our solution, you have to enter a commercial partnership agreement with Betfair for shared revenue generated.


Melcom Copeland, Director
BetXTech
Loft #16,The Creative Lofts
15 Northumberland Street
Huddersfield, HD1 1DT
England

t: +44 020 8123 0968
w: http://www.betxtech.com
w: http://xcepos.betxtech.com

CashXTech and Rank Group’s Grosvenor Casinos in Leeds, United Kingdom, Deploy IGT EZPAY Voucher Redemption Terminal (VRT)

August 24th, 2009

FOR IMMEDIATE RELEASE

Date: 27 July 2009

Contact: +44 (0)20 8123 0968

CashXTech and Rank Group’s Grosvenor Casinos Deploy IGT EZPAY Voucher Redemption Terminal

Huddersfield, United Kingdom - 27 July 2009 - Following a £300,000 investment, Grosvenor Casinos opened its first electric casino in Merrion Way (Leeds), on Friday 17th July 2009 featuring a selection of slot machines and electronic roulette terminals.

At the heart of the new Electric Casino is CashXTech’s XSS-VRT an automated self-service payment solution for Casino jackpot voucher redemption. The interactive touchscreen terminal integrates with the International Game Technology EZ Pay® ticket-in, ticket-out system and provides cash out services for all 21 EZ Pay Gaming Machines in the casino. There is no manned cashier or a cage personnel as the VRT handles all the jackpot payouts 24/7.

BetXTech - IGT EZPAY TITO Voucher Redemption Terminal

BetXTech - IGT EZPAY TITO Voucher Redemption Terminal

The Grosvenor Electric Casino offers gamers the chance to play in an informal and relaxed setting. Based directly beneath the successful Grosvenor Casino Leeds, the 24-hour venue offers ten state- of-the-art £4,000 jackpot slot machines and 11 high-tech electronic roulette terminals. Melcom Copeland, Director of CashXTech said: "It’s just a matter of time that more and more European casinos start to incorporate automated voucher redemption terminals into their gaming floor operations. This is our second UK deployment, and we have another installation in the successful Regency International Casino in Tirana, Albania.

CashXTech’s automated ticket redemption solution provides an easy and convenient way for casino players to redeem cash-out tickets issued by EZ Play machines right on the casino floor. Valid bar-coded tickets redeemed through the XSS-VRT Redemption Station are paid on-the-spot by high-security, electronically controlled multi-denomination currency dispensers. The voucher redemption terminal is equipped with industry leading gaming hardware devices including JCM American Corporation UBA Series validator, a FutureLogic Gen2 receipt printer, Money Controls unversal coin hopper, and a high volume cash dispenser.

Unlike other voucher redemption terminals, XSS-VRT unique features include aesthetically modern design and a small footprint taking up only 1/3 of the space as existing solutions on the market. The solution can be delivered with an optional second overhead screen ideal for advertising as an additional revenue channel.

Phil Guynan, General Manager of the casino said: “We’re delighted that Leeds has been chosen to open Grosvenor’s first Electric Casino. It will offer Leeds residents and visitors the chance to experience the latest in gaming technology within a friendly, safe and informal environment, and our walk-in policy means that there is normally no need to register.”

About CashXTech

CashXTech is a leading European gaming payments solution provider specialising in Self-Service Payment EPOS solutions, or Voucher Redemption Terminals for Casinos, Arcades and Adult Gaming Centres. The company is a spin-off company formed from leading Self-Service EPOS betting software solutions company BetXTech.

About the Rank Group

Rank is a leading European gaming business, head-quartered in the UK and listed on the London Stock Exchange (RNK.L). The Group’s principal activities are: the operation of bingo clubs and casinos in the UK with complementary on-line gaming and bookmaking services.

About Grosvenor Casinos

Grosvenor Casinos is a leading British operator of casinos, operating 32 casinos in Great Britain, principally under the Grosvenor and G Casino brands in England and Wales. It also operates two casinos in Belgium. The business is head-quartered in Maidenhead, England.

CashtXTech
Loft #16,The Creative Lofts
15 Northumberland Street
Huddersfield, HD1 1DT
England

t: +44 020 8123 0968
f: +44 087 0912 5559

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BETXTECH LAUNCHES MOBILE SPORTS BETTING SYSTEM AT ICE

February 4th, 2008

– WIRELESS PERSONAL BETTING DEVICE TARGETING CASINOS –

 

LONDON, UK– 04 FEBRUARY 2008 – BetXTech, a niche focused software development and system integration firm launched XSS-Mobile, its new mobile sports betting solution last week at the International Casino Exhibition (ICE) in London. The company also showcased their commercially available No-Risk, Self-Service Sports Betting kiosk terminals, and announced its newly developed casino slot ticket redemption solution; an IGT EZ Pay integrated Voucher Redemption Terminal (VRT) which will be ready for delivery next month.

BetXTech Mobile Betting Device

The idea for XSS-Mobile and a personal mobile betting device came to the company last year after meetings with several internationally-based casino operators who shared the business requirements for such a solution. The operators wanted to allow their patrons to have the ability to freely bet wherever they were located within the establishments. “We believe that the flexibility of mobile betting is a very attractive proposition for any gaming operator and their clients, and the 2008 ICE show was the perfect venue for us to announce the wireless delivery of our sports betting solution”, says Melcom Copeland, a Director at BetXTech.

XSS-Mobile can run on a variety of handheld mobile devices such as Tablets, PCs, and PDAs which are linked by a 802.11 wireless fidelity (Wi-Fi) network to a secure server hosted by BetXTech. The company revealed its wireless sports betting solution at ICE on an attractive and easily portable Touch Screen Tablet PC with a 12.1″ monitor.

The solution offers casinos different practical applications – Casinos can equip their employees with a ‘walkabout’ sportsbook solution to take bets from customers, or the mobile betting device could be distributed directly to customers who are interested in placing bets in designated public areas of the Hotel & Casino resort such as swimming pools, bars, or lounges.

ABOUT BETXTECH

BetXTech, headquartered in the UK under the trading name of Betting Exchange Technologies Limited, specialises in providing betting applications that enable no-risk Sports Betting for casinos and bookmakers. The firm has been in the business of developing betting software the past 3 years, and has concentrated a large part of its efforts on delivering no-risk, retail-based solutions and the commercialisation of their self-service Sports Betting Kiosk Terminals in the UK and Ireland. The Company’s management team consists of experienced operations, software development, and finance personnel who collectively have over 20 years of online gambling and sports wagering software development. For more information, visit: http://www.betxtech.com

http://www.flickr.com/photos/23351109@N08/

 

BETXTECH TO SHOWCASE SPORTS BETTING KIOSKS AND CASINO SLOT TICKET REDEMPTION TERMINALS AT ICE 2008

January 5th, 2008

BETXTECH TO SHOWCASE SPORTS BETTING KIOSKS AND

CASINO SLOT TICKET REDEMPTION TERMINALS AT ICE 2008

– RETAIL SPORTSBOOK AND VOUCHER REDEMPTION TERMINALS

TARGETING CASINOS –

LONDON, UK– 07JANUARY 2008 – BetXTech, a niche focused software development and system integration firm, has announced it will be making its debut ICE appearance, to showcase their No-Risk, Self-Service Sports Betting kiosk terminals, as well as its newly developed casino slot ticket redemption solution, an IGT EZ Pay integrated Voucher Redemption Terminal (VRT).
BetXTech EPOS Self-Service Betting Terminal
BetXTech
has been in the business of developing betting software the past 3 years, and has concentrated a large part of its efforts on delivering no-risk, retail-based solutions to betting shops and casinos. The company initially launched their flag-ship commercial Sportsbook product, the XSS-EPOS betting terminal, at the 2006 Betting Show in Birmingham, UK. The company has just recently successfully completed 1-year trials of the solution in association with several licensed betting operations throughout the UK and Ireland, with significant results.

Because of BetXTech’s electronic point of sale (EPOS) software and hardware integration expertise, the company was approached by leading casino operator, Regency International, to develop a bespoke slot ticket redemption terminal that would support cashless slot machine gaming (TITO – Ticket In Ticket Out) at Regency’s newly established Romania based casino. Regency’s slot machines are equipped with Future Logic GEN2 printers, and BetXTech’s XSS-VRT terminals will be capable of processing the slot ticket jackpot vouchers through IGT EZ-Pay using JCM American Corporation UBA Series validator and a high volume cash dispenser, featuring hefty 3000 note capacity cassettes with four different currency denominations. The VRT solution is to be delivered to Regency International beginning of Q1 2008. BetXTech Casino Slot Voucher Redemption Terminal

The boutique firm made the decision to become an exhibitor in this year’s ICE show in order to seek out strategic partners interested in distributing the company’s self-service sports betting and voucher redemption terminals to casinos. “Our decision to attend ICE 2008 this year as an exhibitor will surely prove to be one of the company’s major decisions leading to future business. We feel a good number of established casino suppliers will take an interest in our innovative and cost effective solutions as complimentary offerings to their existing portfolio”, says Melcom Copeland, a Director of BetXTech.

BetXTech will be showcasing its solutions at STAND #3032 at the International Casino Exhibition.

ABOUT BETXTECH

BetXTech, headquartered in the UK under the trading name of Betting Exchange Technologies Limited, specialises in providing betting applications that enable no-risk Sportsbetting for casinos and bookmakers. The Company’s management team consists of experienced operations, software development, and finance personnel who collectively have over 20 years of online gambling and sports wagering software development. For more information, visit http://www.betxtech.com.

 

BetXTech Deploys Internet Sportsbetting Kiosk with Better

September 24th, 2007

Internet Sportsbetting Kiosk Solution Geared Towards Bookmakers, Casinos, Pubs and Sports Bars

London, UK, 24 September 2007 – Leading Sports Betting software solution provider BetXTech officially announced today the successful deployment of their Internet Sportsbetting Kiosk, XSS-EPOS™ in partnership with Better - one of the UK’s fastest growing high-street bookmakers.

The trial deployment has initially launched at Better’s busiest shop located at Victoria Street Station. The introduction of the new cash terminal software solution clearly sets apart this independent who has been offering kiosk terminal betting through its Betterex brand since May 2006.

Better now has the upper hand in potentially acquiring even more new customers from competing bookmakers by offering more value bets and prices offered by the BetXTech driven self-service kiosk terminals. Better’s innovative strategy is to offer more value to its customers through a broader range of Sports, Events, and betting markets not readily available over the counter. Better has taken the position that it is all about offering choice to the customer. Better’s Managing Director Ian Hogg says, “The feedback from our customers so far has been all good and they can see the kiosk offering different betting opportunities to what a regular betting shop can provide.”

XSS-EPOS™ kiosks are capable of generating betting revenue on a continuous 24/7 basis. The cash or magnetic card based funding mechanisms instills player confidence while ensuring 100% customer and operator security. The terminals are fitted with attractively robust and sturdy enclosures, touchscreen displays, along with magnetic card readers, note acceptors, and bar coding bet slip printers.

“Partnering with what is no doubt going to become a sizable independent bookmaker like Better had been fantastic, in particular, working closely Ian Hogg and his staff. Ian from the beginning clued into the unique selling points of our offering, and he was keen to extend the benefits to his customers: a wider Range of Markets, Place Betting, Lay Bets, In Running, and Ease of use of the solution,” says Boris Ahrendt, Director of Product Development at BetXTech.

BetXTech is currently seeking revenue sharing partnerships with other innovative and forward thinking ventures looking to offer more choice and value to their customers.

About BetXTech

The Company’s management team consists of experienced operations, software development, and finance personnel who collectively have over 14 years of online gambling and sports wagering software development, sales, training, and support experience.

About Better
http://www.bettercorporate.com/

The independent bookmaker with 25 betting shops based in London has grown exponentially since opening its first shop in Kings Cross in May 2006. Better is the trading name of Betting Shop Services Ltd and its Managing Director is Ian Hogg.

FOR MORE INFORMATION, CALL +44 (0)20 8123 0968 in the UK, or +33 6 24 74 61 73 outside the UK. Email: info@betxtech.com

BetXTech signs Regency casino deal

August 6th, 2007

(UK).- London-based software development firm BetXTech has signed a deal with Regency International Casino to develop a bespoke Voucher Redemption Terminal (VRT).

The software will support its cashless gaming and TITO slots at its newly opened venue in Romania and existing casino in Tirana, Albania.

The new slot ticket redemption system will be processing IGT EZ-Pay jackpot vouchers printed by slot machines fitted with FutureLogic’s GEN2 printer. BetXTech’s software development teams in Miami, Amsterdam and Manila are working in collaboration with IGT Europe in order to integrate EZ-Pay with BetXTech’s new slot ticket redemption system for the deal.

“We are excited about supporting the past few years trend in cashless gaming casinos and the proliferation of cashless slot systems being rolled out onto the casino floor,” BetXTech’s director Melcom Copeland commented.

“Casinos have always been our primary target with our Sports Betting Kiosk Terminals, and now we are able to offer a complimentary product though this new Voucher Redemption Terminal which we will offer both as a standalone solution as well as integrated into our existing Sports Betting product.

“Regency Casino International approached us to develop the solution because they are taking steps to better service their customers, and at the same time improve operating efficiency and reduce cost on the slot floor”, he added.

BetXTech & Vernon Racing Bookmakers Deploy XSS-EPOS™ Sportsbetting Kiosk Terminals, Dublin, IRELAND

March 1st, 2007

BetXTech has officially deployed their Internet Sportsbetting Kiosk solution in conjunction with Vernon Racing Bookmakers, a successful Ireland based independently run betting shop in Dublin. The Internet Sportsbetting terminals installed at 197 Clontarf Rd, Clontarf, Dublin 3 are the first in Ireland for BetXTech after receiving huge response and interest from Irish bookmakers present during last year’s solution launch at the Betting Show in Birmingham.

The deployment clearly sets apart Vernon Racing Bookmakers from other independents and Irish national chains. Already having a 20 year history and foothold with no competition within a 2-mile radius, Vernon Racing believes they will acquire new customers from competing bookmakers by offering more value bets and competitive prices offered by the self-service kiosk terminals. Vernon Racing’s innovative strategy is to offer LAY and In-Play bets to its customers as well as a broader range of Sports, Events, and betting markets not readily available over the counter. By offering the new Sportsbetting terminals, the betting shop has opened up a new revenue channel for itself, and have taken the position that it is all about offering more choices to the customer.

The Sportsbetting terminals are based on a separate business model from the bookmakers over the counter business allowing the bookmaker access to risk-free, no liability betting opportunities that lead to additional revenues for the shop.