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Searching for Liquidity

The search for new games and offerings at the online casinos can be an all consuming task for some gamblers; after all, there are just a handful of top notch gambling software providers in the international industry. But Interactive Systems Worldwide Incorporated (ISWI) put its faith in the SportXction in-game betting software – and that faith is slowly beginning to pay off even though the gamble has not fully paid off yet. Basically, ISWI is the parent company for the product and has continued to funnel money into SportXction’s development despite a rocky start and few online casinos and betting sites using the product.

Now however, SportXction is showing some very decent turnover and the gaming product is pulling in some record net gaming revenues. According to figures released by Global Interactive Gaming (GIG), the online casino gambling company offering the SportXction betting product turnover is up a whopping 77 percent compared to the same time in 2007 – turnover for June actually exceeded the $4 million mark. The internet is one of the most pervasive mediums on the planet and online gamblers and bettors are really beginning to embrace the opportunity to integrate their lives and easily participate in their favorite activities. The ability to bet in real-time during a sporting event, while watching the game in your home is truly revolutionary and many betting are only just aware that in-game betting sites exist.

But for all of the reports that the SportXction online casino betting and gaming product is gaining popularity in the market and beginning to show a positive cash flow, there are still some problems that ISWI and GIG are in the process of working out in the coming months. Liquidity is one of the primary issues for the SportsXction product – there are just no cash reserves in place to protect the company through a rough spot and, even more alarming perhaps is the fact that the current CEO at SportXction has voluntarily waved his pay for the last several months as the in-game betting product is still establishing itself in the online casino betting and gambling industries.