WIRELESS BETS ON SPORTS ELECTRONIC MARKETING
July 16, 2002 - Press Release
TORONTO, Canada - 1X Inc., a developer of online exchange based software for the sports betting marketplace and leader in the in-game betting software market has selected Phantom Fiber Inc., the leading developer of technology driven wireless software applications and mobile solutions for the gaming industry to develop wireless solutions for 1X's deployment of the world's first wireless betting exchange.
1X's SportMarkets software is a peer to peer betting exchange software that seamlessly integrates into any sports book software and provides users with direct access to a central bet exchange similar to placing an order on the NYSE, TSE or NASDAQ" says Anthony Novac, President and Co-Founder of 1X Inc. "Real time deployment of SportMarkets software onto hand held devices using Phantom Fiber's technology is a very logical step in the evolution of our applications and offers our customers the opportunity to make real bets securely from anywhere at any time. That creates the opportunity for users to bet from a stadium or the pub throughout the game, filling a key gap in the gaming marketplace. Developing the first wireless channel for sports betting exchange solidifies our first to market deployment strategy of real time solutions," says Novac.
Phantom Fiber is pleased to have been selected by 1X as its solution provider for its wireless business. Our bandwidth optimization technology, Smart Streaming is one of the key pieces of our technology that enables us to deliver unparalleled responsiveness and clearly differentiated Phantom Fiber from the crowd" says Jeff Halloran, President and CEO of Phantom Fiber Inc. "Using today's PDA's and smart phones, we provide a secure wireless solution that's secure - exciting - fast, that will deliver new customers, increase user frequency and provide unique marketing opportunities for 1X's exchange application software" says Halloran.
"1X researched several wireless platforms and Phantom Fiber's Framework with its unique Smart Streaming technology surpassed our stringent customer requirements for zero latency client server performance, crystal clear graphics and intuitive user screens that replicated our land based software, delivering a real time gaming experience right into the hands of an end user who could be located anywhere across the globe" says Anthony Novac.
Under the terms of this multi year license agreement the two companies will work jointly together. Phantom Fiber will develop wireless betting solutions that can be downloaded onto hand held devices from 1X's partner web sites and will leverage its relationships with network providers and device manufacturers to build comprehensive adoption programs. 1X will develop alliances for the deployment of Phantom Fiber wireless solutions. 1X will be introducing a staged rollout of its wireless solution for SportMarkets in September 2002 in anticipation of the upcoming NFL football season.
Phantom Fiber Inc.
Phantom Fiber is the leading developer of technology driven wireless software applications and mobile solutions that empowers enterprises with high performance functionality on today's mobile devices and communication networks. Phantom Fiber Inc., is a privately owned software development company based in Toronto, Canada. For more information about Phantom Fiber, visit www.phantomfiber.com
1X Inc
1X Inc., is a leading developer of online exchange software that enables consumers to make sports bets in-game and in-tournament in a manner similar to a stock exchange and helps legal sports bookmakers hedge their exposure. For more information about 1X, visit www.1Xinc.com
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