Gorcon, WINR is not competing with VISA/MC. They will be accepting them as
transfer off funds. Those people who sign up for using the internet gaming or
sportsbookie will have an account set up for them at one of the aforementioned banks
and have a debit card issued to them. They will then have the option of using that card
to access their money faster than getting it from the mail in the form of a cashier's
check. In addition, they could use it like any other debit card to buy things online or on
land.
The secure encrypted technology is supposed to be the best available(128 bit), but the
key here is that it will be managed and backed by the best banking systems in the
world. That is what any and all online transaction software companies will need for
their system to be credible. You can't just give an online company a secured
transaction software system-it has to be backed by some form of accounting-a bank.
The more credible, reliable, respectable that backing is, the more likely new companies
will want to use it. I had posted some information on this at an earlier date. This is why
WINR's potential is so huge long term. They have arguably the best backing in the
world. The individuals who come upon the shopping malls online will still use credit
cards IMHO(maybe a few will actually use the debit card-it is much more popular
overseas than here in the US), but they need an entity to provide the means of
accepting that activity. They could use Sterling, others, or WINR's system to be
marketed by the CMS and CLT. WINR won't be competing with VISA/MC there,
but rather providing the accounting for the company to go online accepting payments.
See? WINR is simply building an online e-commerce solution backed by serious
entities. They happen to want to provide it to the gaming industry with the debit card,
but they will also offer it to any company who wishes to go online-stock trading, retail,
whatever. WINR will get a % of the online transactions just like AMEX or VISA or
MC get a piece of the action with every credit card purchase. Noone even has to
know that WINR is involved in providing the online transaction software for a
particular company going online, just that it is backed by some of, if not the, the best
banks in Europe.
P/E varies-general gaming is 10-25, but internet is whatever the heck one wants it to
be. Cryptologic did something like $0.65 last 12 months and traded as high as $40.
You just never know with software and the internet. I will be conservative and shoot
for 20, so $4 eps in a couple years would yield $80/share.
Skinner has told me that once the site is up, he will be devoting a great deal more time
to marketing and promoting of this system. Right now, he just wants to get up the best
product that he can-I heard through the grapevine that he has been showing the system off the last few days to a
few major players.
Miller |
