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.