To: Fli-by (47 )
From: Popiye Thursday, Apr 30 1998 6:03PM ET
Reply # of 2300
Received the Business Plan from BETT today. I'll type the first page, "only" 27 pages with graphs. I will omit the graphs etc as I work along.
Betting Inc 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 payment of bet by ATM card or smart card. This will be same day pay per day.
2. The these wagering transactions will be originating from homes, offices, hotel lobbies (hotel rooms IMHO), cars, in other words from locations that are "remote" from the gaming (gaming they mentioned reading through the business plan: track, sporting events, lottery) operator.
3. That these wagering transactions will be self serviced (no opertors except you and I) in that the player will not call or 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 industry. (BETT is the interface)
4. That these wagering transactions are "personal" and "encrypted" and will be electronically sent to the gaming operators (business plan is global with BETT interfacing).
The classification of this equipment is PERFECT equipment, that is, Personal Encryption Remote Financial Electronic Card Transactions.
5. The present global wagering marketplace is 800 Billion dollars per year. The project global wagering marketplace in 2001 is 1 Trillion dollars.
6. Of this marketplace, we project the PERFECT wagering market at 250 billion dollars. In other words, 25% of the wagering will be PERFECT wagers.
7.Since PERFECT wagers are remote (home, office, hotel, car..) and are effected without speaking to a 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 paid (BETT interface)
The gaming operator then needs to respond back to the player with an acknowledgement of the wager. (that is the end of page one folks)
Note: (((my words)) also, I'm only an investor here folks. No attachment to the company.
Page two refers to there needs to be an INTERFACE or service that acts as the connecting point between the bank host processing centers (BANK Hosts + ET & T Host+ EDS Hosts + XYZ Hosts) that processed the ATM card or smart card wager and the (all) GAMING OPERATORS and (all) customers who need to acknowledge payments.
BETT will be the interface to banks, gaming operators and individuals whom wager. They plan to be international interface.
IMHO like it.
BETTING HAS NO COMPETITION!!!! I have a call into the CEO making sure this is correct. Anita to get back to me very soon. I will call her friday and get status.
My hands are tired. Let me know by private email if you want me to continue.
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