LAS VEGAS, Dec. 20, 2010 /PRNewswire/ -- American Wagering, Inc.: (OTC Bulletin Board: BETM), a leading sports wagering service and technology provider, announced today that the Nevada Gaming Control Board approved the LEROY'S® APP© after successful completion of its field trial. The Nevada Gaming Control Board places new technologies created within the gaming sector on a probationary period otherwise known as a field trial to determine if there are any issues or flaws with the new product.
"American Wagering is pleased that the regulators approved our technology, finding it to be problem free. We did not have a single issue during our trial period. The LEROY'S® APP© is working great, customers love it, and it has exceeded our expectations," stated Vic Salerno the Company's CEO.
The Company also announced that it submitted the LEROY'S® APP© on the Android platform to the Nevada Gaming Control Board for regulatory approval. Sales of smartphones utilizing the Android operating system now account for the fastest growing segment of the smartphone market with an estimated 200,000 units sold per day.
The mobile gambling industry is anticipated to surpass $48 billion dollars by 2015 according to Juniper Research. American Wagering is the first company to enter the market in the United States with an approved application for sports wagering. The technology is comprised of several layers of security including a patent pending geographic location process and encrypted communications. The combined procedure ensures safe and secure wagers from the users to the Company's centralized bookmaking facilities in Las Vegas. Security is vital, as the Company must authenticate that the bettor is present within the borders of the state of Nevada when the wager is made to meet state and federal regulations.
"Smartphones and other mobile devices will be key products on our development path for the coming year. The approval of the LEROY'S® APP© is the creation of a new market segment for sports wagering and I am proud to be a part of its creation here in the United States. The Nevada regulators placed significant challenges on American Wagering to provide a means of offering account wagering on a mobile device whereby we could verify that the bettor was in the state. We rose to the challenge and succeeded. Meeting new challenges and adapting to the changing needs of our customers are the reasons why American Wagering has been an industry leader for 32 years," added John English, American Wagering Senior Vice President of Business Development and Public Affairs.
American Wagering sees its LEROY'S® APP© as a way to boost the bottom line. It is a low cost, convenient, and efficient way of communicating with the customer and taking wagers. There is no equipment to purchase or maintain. The relationship is simply between the sportsbook and the bettor through his or her smartphone.
Because American Wagering's LEROY'S® APP© enables a person to wager anywhere within the borders of Nevada, the Company abandoned its plans to develop a mobile product that would work only on a casino's property. It is too geographically limiting on the bettor to be considered "mobile" and it was not considered to be a financially viable project as compared to a true mobile application for sports wagering. The Company already has self-service kiosks and other means for transacting wagers on a casino floor. The convenience of the mobile application is that once downloaded to the bettor's smartphone it travels with them. There is no need to check out a device or a tablet from the casino. Likewise, the casino is not required to purchase, maintain, or keep track of, any proprietary devices.
"American Wagering is a company built by bookies for bookies. We are a member of the gaming industry, serving as both a vendor to the casinos and as an independent sportsbook operator. This dual role requires American Wagering to constantly build a better way for bettors to enjoy their wagering experience. We provided the gaming regulators and the industry with a solution for sports wagering on a mobile phone. American Wagering may be a quiet company, as we are neither ostentatious nor pompous, but our customers know that they can rely on us to devise and deliver the trendsetting products and services to be offered in the emerging U.S. sport wagering market," further added Salerno.
ABOUT AMERICAN WAGERING, INC.
American Wagering, Inc. (www.americanwagering.com) is a publicly-traded company that primarily operates through wholly-owned subsidiaries including Leroy's Horse & Sports Place, Inc. ("LEROY'S®") (www.leroys.com), Computerized Bookmaking Systems, Inc. ("CBS"), AWI Manufacturing, Inc. ("AWIM"), and AWI Gaming, Inc. ("AWIG").
Safe Harbor Statement
This release contains "forward-looking statements" based on current expectations but involving known and unknown risks and uncertainties, such as statements relating to anticipated future sales or the timing thereof; the long-term growth and prospects of our business or any jurisdiction; the duration or effects of unfavorable economic conditions which may reduce our product sales; and the long term potential of the mobile sports wagering device application market and the ability of American Wagering, Inc. to capitalize on any such growth opportunities. Actual results or achievements may be materially different from those expressed or implied. American Wagering, Inc.'s plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, the timing and its ability to consummate, acquisitions, and future business decisions and other risks and uncertainties identified in Part I-Item 1A, "Risk Factors" of the Company's Form 10-K for the period ended January 31, 2010, all of which are difficult or impossible to predict accurately and many of which are beyond its control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate.
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Contact John English at 702-735-5529
SOURCE American Wagering, Inc.