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Probability is Unfazed

Indications of a slowing European economy has not yet had an effect on the online casinos and mobile gambling companies. Probability just recently announced the company’s Q1 report and the quarterly growth in net gaming revenues, coupled with a new licensing deal with Paramount indication that Probability is on a path of continued growth for the rest of 2008. With the second quarter closed and new products due to launch in the second half of the year it will be interesting to see how well Probability’s new mobile online casino gambling products are able to corner the market.

Mobile gambling is a fairly new sector of the industry at just barely two years old yet the industry is really catching on to mainstream consumers. The advances in mobile technology and the increased use of the Internet on these devices means that consumers are now turning to their mobile devices for entertainment. Whereas the online casino industry revolutionized the gambling industry with the ability to gamble from the privacy of your own home, mobile gambling has taken another step further and enabled individuals to track betting from the subway and play roulette in waiting rooms.

UK gamblers are increasingly looking to the mobile online casinos for entertainment despite more hardships in the economy. The CEO at Probability, Charles Cohen, observed, “Whilst others may be suffering from the economic climate and changes to regulations in other areas, our presence and first mover advantage in the mobile gambling market gives us many advantages that make us confident of achieving our near and medium term growth plans.” Some of the projects on the horizon include the partnership with 3Mobile to offer Probability’s LadyLuck mobile game and a licensing deal with Paramount Pictures to have exclusive access to some of the company’s major movie themes.