Results from ISWI (SportXction) who partner with SkyBet and SPO. Interesting comments on the betting interface and proposed changes towards integrating the betting options. Innovation is trial and error.
Extract:
Overall, the ISWI management team is disappointed that SportXction(R) product in live operation in the UK has not seen a larger increase in both utilization and revenues. There have been positive developments; including the fact that the system has experienced a net hold of 6 percent since launch, validating the risk management features of the system. In addition, when consumers are exposed to the Company's product, data shows they like it, play it and come back to play repeatedly.
The Company's most significant disappointment has been that our partners have not marketed the product to the extent necessary to achieve critical mass. Although there may be several reasons for this, one significant factor is that the current Internet product is configured to run in a separate window within the browser. That is, when a player is making bets or simply monitoring the betting propositions managed by the SportXction(R) system, he/she cannot also monitor or place bets on propositions maintained and managed by our partner. Thus, even though our partners share in the revenue generated by the SportXction(R) system, they may perceive that by marketing our product they are actually decreasing the revenue derived from their own offerings.
The Company's solution to this situation involves a new system implementation methodology. In this approach, the product is fully integrated into the partners' existing betting system, keeping the user's interface, look and feel the same. This will provide the user with a significantly improved and expanded offering of betting propositions to keep him engaged in the sporting event. The Company's play-by-play betting propositions, controlled from the SportXction(R) system, are therefore placed seamlessly within the business partner's betting offerings and the player places wagers in the same manner as all other bets.
We believe that this approach will lead to a substantially better customer experience. Other advantages are that both our partners and the Company are better able to leverage the complementary offerings without the need for separate branding, awareness campaigns, separate user registration, and other logistical practices. The Company, in particular, will gain the full benefit of all of the partner's advertising, marketing and promotion campaigns, while the partners need not commit special resources to marketing the Company's product alone. The Company's management is very optimistic this new methodology will yield significantly greater revenues.
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