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American Telecom Services, | AMEX:TES | AMEX | Ordinary Share |
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TradingSports Exchange Systems PLC 17 June 2003 For Immediate Release 17 June, 2003 TradingSports Exchange Systems plc TradingSports signs up Betfanatic.com TradingSports Exchange Systems plc ("TradingSports" or "the Group"), the person-to-person ("P2P") betting exchange system provider, is pleased to announce details of an exclusive five-year deal with Betfanatic.com ("Betfanatic"). Under the terms of the agreement, TradingSports will provide Betfanatic's customers with P2P betting through its betting exchange, and allow these customers to benefit from the liquidity engendered by TradingSports' pooled customer base. In exchange, TradingSports will receive a percentage of all margins generated through Betfanatic. Joe Tighe, Chief Executive to TradingSports, commented: "This partnership with Betfanatic is a strong endorsement of the potential for P2P betting exchange systems to revolutionise the online gaming market. We are pleased to be behind one of the best names in horse racing in the UK and believe that Betfanatic has every chance to succeed in the fast growing P2P space." Ben Arbib, Chief Executive of Betfanatic, commented: "P2P betting is here to stay and we believe that Betfanatic will be at the forefront of this new gaming revolution. In our view, TradingSports is the only system available today which has the ability to not only handle the significant growth which we are anticipating over the medium term, but also provides us with the necessary liquidity for our customers to take part in the most exciting betting experience available." For further information, please contact: TradingSports T: 020 8780 6000 Joe Tighe, Chief Executive Betfanatic T: 0870 26 26 333 Ben Arbib Buchanan Communications T: 020 7466 5000 Bobby Morse / Bobbie Swanson Background to Betfanatic.com: Betfanatic was founded in 2003 by Benjamin Arbib. The Arbib family have been involved in both the UK Horse Racing and the Financial Services industry for the last twenty years. Betfanatic's betting exchange is provided by TradingSports, a proprietary exchange software provider. TradingSports is a UK based technology company that focuses entirely on developing large-scale exchange technology for the global betting industry. Betfanatic is located within the UK and operates wholly within the confines of the Betting and Gaming & Lotteries Act of 1963. It holds a Bookmakers Permit. Background to TradingSports: Founded in August 2000 and floated on the Alternative Investment Market of the London Stock Exchange in May 2003, TradingSports is a P2P betting exchange system provider. It offers a technology platform primarily to sports betting companies, through which individuals bet on live sporting events at any point before and during the event. The Group aims to apply principles of a financial exchange and to act as a clearing house for gambling companies offering P2P betting from any jurisdiction in the world where it is lawful to do so. Its platform is aimed at the business-to-business market and acts as an aggregator of liquidity from different sports betting companies. TradingSports recognises that liquidity is an important component to maximise the success of P2P betting. By providing an exchange service with several participating members, thereby creating a significant user base, TradingSports' services help to ensure that the potential number of people with whom to bet is far greater than could be provided by one individual bookmaker. TradingSports itself has no direct relationship with bettors, does not handle any money of individual bettors and is not exposed to the gambling risk associated with a bookmaker, as it does not risk its own capital. This information is provided by RNS The company news service from the London Stock Exchange END NRAEAFKKFEDDEAE
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