Hi everyone,
There is a message from Tom:
A discussion about eConnect's goals and strategies beginning with the following facts:
This should be read and studied by all BETT shareholders and by future BETT shareholders.
I. Background
Definition: Same-as-cash: The ability to move non reversible electronic payments to the merchant. It's a cash not credit transaction.
An ATM card with PIN used on a terminal to pay for gas or to purchase groceries is the same as cash to the merchant. The money is immediately debited from your bank account.
A. If you have a bank checking account, then you also have a bank ATM card with PIN card that enables you to effect same-as-cash transactions using hardware found at gas stations, book stores, grocery stores, convenience stores etc.
B. A Smart card, that is similar to a phone calling card, but can be used to pay any merchant when the card is being used with a card reader, will enable the people who do not have bank accounts to pay with same as cash to the merchants.
C. ET&T is working with Oberthur, the third largest Smart card producer, to develop this card.
Today, consumers do not have the ability to pay bills from the home to the phone or gas or cable or mortgage or insurance or health companies with the equivalent of same-as- cash transactions by ATM card and PIN or by Smart card, simply because they do not have the home hardware.
Today, the consumer does not have the ability to pay web merchants by same-as- cash ATM card and Smart card transactions, simply because they do not have the home hardware.
When they do have equipment, then they could effect a Personal Encrypted Remote Financial Electronic Card Transaction.... a PERFECT transaction.
II. The Hardware solution:
ET&T has created the PayMaster (http://www.hpos.com) and has Patents on the pocket sized hardware called PocketPay, which is a wireless PERFECT device that fits in your pocket, the keyboard hardware called the SLICK that will enable PERFECT Internet transactions, and a Patent pending on the TV Pin Pad Remote.
Our PERFECT equipment and many other PERFECT products which we encourage other companies to make, will be aggressively marketed into homes by self interested industries such as utility and Phone and Insurance and Cable and Finance as a same-as-cash payment method for global consumers to use on any transaction
Consumers with bank accounts will be able to pay bills or purchase services from the home with same-as cash ATM cards. Consumers who presently pay bills today by either sending in a money order or by walking into the location, will be able to pay bills from home with same as cash Smart cards
III. PERFECT devices used to place Play Per Pay same-as-cash wagers from the home..
eConnect asks the basic question:
If 10 global home consumers have a home PERFECT device which they received from the local utility or phone or gas or insurance company to pay bills by same-as-cash transactions, then how long before at least 3 consumers will demand to place same-as-cash gaming transactions from the home by ATM card or Smart card?
eConnect asks the basic question:
If the only reason Lotteries are not presently played from the home is because the consumer can not move same-as-cash transactions to the lottery, and by Law, lotteries can not accept credit transactions, then how long before the consumer demands that they be able to place home lottery same-as-cash transactions?
eConnect asks the basic question:
If a home PERFECT lottery bet placed at 2AM for $5 with a same-as-cash transaction, wins the equivalent of the electronic scratch off for $200, and the Lottery bank has the ability to immediately move the funds to the winners' bank account, then how long before the electronic winnings will be automatically taxed before being deposited into the winners account?
eConnect asks the basic question:
If by 2001, anyone with telephony, will have some type of PERFECT device that can effect many different types of PERFECT transactions from donations to bill payment, then what is the potential global PERFECT wagering marketplace?
The answer is that global PERFECT wagering will be a $300 billion plus market by 2001 based on the projections that the global 2001 wagering marketplace will be 1Trillion dollars. The United States by itself accounts for $600 billion from casinos, lotteries, racing etc.
IV. Preparing the foundation for eConnect to be the Global leader in PERFECT wagering.
The Necessary Elements for PERFECT wagering:
1. PERFECT hardware effecting the landline or wireless transaction.
2. The bank Host of ET&T driving the PERFECT wager transaction for bank authorization.
3. The Internet or non Internet gaming company who is receiving the PERFECT wager.
Note: eConnect is both Internet and Non Internet related.
4. The relay or Connect between ET&T and the gaming companies who are acknowledging receipt of a PERFECT wager back to ET&T, who then passes the completed receipt of bank authorization, gaming company acknowledgment and time and date of the PERFECT wager to the player at home who has a printed receipt.
V. The acquisition of gaming companies in specific market segments to both generate revenues and earnings for eConnect and to act as a test bed for PERFECTwagers.
1. With the acquisition of 777WINS.com and eSportsbet.com, eConnect has accomplished two goals.
A. Our eGaming Division is now reporting revenues and profits for eConnect.
B. Our eGate Division now has two working gaming companies with which to test PERFECT wagers, which we recognize as a long term
development.
2. The immediate plan is to work with ET&T and the PayMaster and to legally test from the United States the account open and account replenishment by same-as-cash to 777WINS and eSportsbet.
From Hong Kong and England, we will legally test same-as-cash PERFECTplay per pay wagers to 777WINS and eSportsbet.
3. We are aggressively searching for acquisitions of a lottery company, a bingo company, a slots company, and a racing company which once acquired, will generate revenues and earnings for the eGaming Division of eConnect and will provide test beds for the eGate Division of eConnect.
Establishing the eConnect PERFECT wagering presence:
With our Strategic partner ET&T, eConnect will position beachheads in the United Kingdom, Australia, Hong Kong, Mexico and other partner countries over the next year.
VI. eConnect in 2001.
Our goal is to have eGate as the Connect point of choice between bank hosts such as ET&T driving PERFECT wagers and the gaming companies being paid on a play per pay same-as-cash basis from mobile units like the PocketPay, from stand alone units like the PayMaster, from set top boxes like the TV Pin Pad Remote and from Internet related devices like the SLICK.
We recognize and encourage other bank PERFECT hosts like ET&T to develop and other kinds of PERFECT devices to be made and marketed into homes as same-as-cash bill payment devices.
In every large country, eConnect will be the Connect between bank hosts and the gaming community. On every PERFECT wager, eConnect is paid a fee at the moment of the PERFECT bet.
VII. The future in 2001.
With PERFECT wagering being encouraged by governments due to the instant taxation of the winnings and now making Internet gaming in the United States a regulated and approved form of entertainment, then one will see the spectacle of same day multiple countries, such as Korea, Mexico, Australia, Germany, Canada, and the United States all playing the “International” which could easily be a billion dollar same-as-cash pot.
Separate from the “International”, eGate is receiving an enormous amount of daily transactions, which if an Internet casino transaction, will be passed down to 777WINS who will then contact the Internet casino being played and will then receive a service fee for connecting the PERFECT wager, or if a sports bet, will be passed on to the Group Gate of eSportsbet who will also be paid a Connect fee for connecting the PERFECT wager with the gaming company being paid. The same will hold true for Lottery and Bingo etc.
If our eGaming companies are not being paid with that specific PERFECT wager, then they are making a fee by servicing a competitor and the eGate Division is generating the revenues.
By 2001, we project that eGate will be generating 80% of our eConnect revenues.
VIII. The analogy of TV and Movie Theatres
People watch television but they still go the theatres to watch the big
screen. So also will PERFECT wagering be compared to television. The land casinos are the movie theatres. PERFECT wagering and the casinos will be extremely complementary to each other.
GO BETT!
Tom |
