News

22 November 2007

Future's bright for Finsoft - and its customers

Finsoft's MD on the exciting times that lie ahead

Published: 22/11/2007, Racing post - (Sport) Predrag Popovic

OVER the last 12 months there have been many changes to the betting industry, and this was reflected at this year's show. Quite apart from the wealth of new products on display, some more wide-ranging trends have obviously started to affect the shape of the playing field.

Top of the list has to be the implementation of the Gambling Act, which came into force on September 1.

Compliance with all aspects of the act will turn our industry into one suitable for the modern world and all of its technological advancements.

Secondly, TurfTV has had a major impact. Much as I am in favour of healthy competition I can only hope that the situation is resolved before the court cases do too much damage.

Our company, Finsoft, has had an incredible 12 months. We have introduced new products, and our worldwide family of customers has grown and now includes some of the best-known bookies in Britain, such as Chisholms, Pagebet, Corbett and Better amongst them. The number of enquiries from other independents seems endless.

I look forward to them all becoming Finsoft customers before the annual visit to the Birmingham NEC next year.

Using the Finsoft Margin Maker Epos solution allows the independents to compete with the large multiples. Our system works in 'real time' and so the users know at any one moment what their liability is and how to adjust the prices accordingly. I cannot imagine how it is possible to operate a proper in-running service without this capability, let alone obtain an idea of the ongoing liability.

That is why I am so enthusiastic about the consortium formed by Chisholm, Better and Corbett. This will enable all members to have access to technology and purchasing power that has until now been the preserve of the larger operators.

The changes owing to the Gambling Act will ensure that we have true competition on the high street. I can see over the next three years a complete overhaul in the way in which information is provided for the customer. Not only will he have more choice, but the whole experience will be enhanced.

As many operators saw at Birmingham this year the 'STOS' (Stream to Screen) system from Finsoft enables shops to put display systems where they want, in the numbers they want and with the information they want - not where the cables dictate. How long must customers peer at redundant scraps of paper, in shops that they have had to search for?

In short, the legal framework has changed, the technology has changed and the attitude of most of the industry has changed. I can envisage a rosy future for the industry - and those who work in it.

At Finsoft we spend many hours planning for the future and developing products that will meet the needs of our market as it progresses. We want to be part of the future by working with our customers and potential clients.

To that end I state categorically that Finsoft will never seek to dictate to its customers - we value their business too much. We will grow with them and all benefit from what promises to be a bright future.

22 November 2007

Groundbreaking technology for the smaller bookies

Published: 22/11/2007, Racing post - (Sport) Howard Wright on a company targeting the independent firms

WHEN David takes on Goliath in the battle of the betting operators, he normally needs more in his armoury than the single stone that proved good enough for the biblical underdog to slay his bigger rival.

Step forward Finsoft, the bettingshop software specialist offering terminal hardware that provides a real-time betting transaction and risk management service.

Finsoft, whose growing reputation was evident from its buy-out by international giant GTech and parent company Lottomatica in May this year, works for the big boys - Betfred and Boylesports in shops, Stan James and Sporting Index online, for instance - but its attention at the Betting Show, which took place at the Birmingham NEC on October 17-18, was equally focused further down the league table.

There, a string of major independent operators, with fewer than 100 shops apiece, keep pace with the latest betting-product developments, but they don't possess the organisation or support to make having their own electronic point of sale (EpoS) systems viable.

Finsoft managing director Predrag Popovic appreciates their position.

"The bigger firms have economies of scale," he says, "and the threat to the independents is that they will either be bought up or be overtaken by the major bookmakers.

"Individually our system is not cheap, but it also needs a certain level of organisation and IT support, which the independents generally won't have.

"We tried a pilot with SIS, but it was both expensive and impractical, largely because of problems of providing the bookmakers with support.

"If the independents want to survive, and keep up the spirit that got them where they are, they have to find a way of distributing their costs."

The answer has been to set up the equivalent of a cooperative - or in the words of the practitioners, a technology consortium - involving Chisholms, Corbetts and Better, with Will Roseff 's Backhouse Bet operation waiting in the wings to add its name and strength to the project.

The principals movers - Howard Chisholm, Michael Corbett and Ian Hogg - are at various stages of taking on the Finsoft system.

Chisholm, who describes the Finsoft EPoS system as "the best on the market", has completed the roll-out; Hogg is moving through his 20-site Better estate shop by shop, and Corbett will have the equipment delivered before Christmas.

Once the four pioneers are fully integrated with the Finsoft system, Popovic believes other independents will be in a better position to come on board, by hooking up and taking data, especially since the service is available through broadband, instead of satellite.

He explains: "This is a much better way of using the system than the pilot we did with SIS, because other bookmakers can join up to their nearest 'headquarters' or hub and have full interaction, without the full cost. And the HQ can deal with problems better, because it is bookmaker talking to bookmaker.

"Of course, if there's a serious problem, we are available. But we support our customers' IT function; we're not bookmakers."

Hogg outlines the benefits: "With this system and its realtime security, you know as soon as you take a bet in any of your shops what your liability is, instead of having to wait until the following day to find out.

"It gives you a lot more flexibility, because you can provide better offers for customers, on more and varied markets, in the knowledge you can manage the business and cut out human error, and the customer will get paid out."

Hogg also maintains that consortium customers will get better service from a bigger range of products than the smaller independent might otherwise be able to offer.

"We will have a far wider selection of events priced up," he says. "In particular, it means you can offer a better in-running service, because you know instantly what your liabilities are."

HOGG is already being true to his word, and has gone one step further, although punters will have to head for the Better shop in London's Hatton Garden for a sneak preview of a new world around the corner.

There, he is trialling a touchscreen terminal developed by Finsoft and TurfTrax, the realtime tracking provider, which gives a representation of the race by means of the colours carried by each jockey, and allows punters to bet in running at prices whose parameters are set by the bookmaker.

Popovic explains: "Finsoft developed the software and Turf-Trax provides the feed. We're looking to see if the product appeals to the customer, and I'm chuffed to say that in this shop at least, it does. It's good fun and a good margin."

The product will be introduced to two more Better shops shortly, and TurfTrax director Mark Kent says he is expecting a fully integrated launch of the nonexclusive service around February next year.

He explains: "We're still in the research and development stage, but the signs are good that we are able to provide a unique in-shop product that has built-in risk management.

"As well as providing the race representation, we can generate dynamically changing prices that satisfy customer demand without the bookmaker being exposed to risk.

"This is not a substitute for few watching a live race, it's a new type of betting product, and we're aiming to catch the next generation of punter, because the idea is to provide entertainment as well as the opportunity to have a bet.

16 May 2007

Lottomatica to acquire bookmaking division of Finsoft Ltd

Lottomatica S.p.A. announced that its wholly-owned subsidiary, GTECH Sports Betting Solutions Limited, has entered into an agreement to acquire the outstanding share capital of London-based Finsoft Limited, a leading provider of real-time transaction and information management systems for the commercial sports- betting market. In addition, GTECH will acquire substantially all of the assets of BEG Finsoft d.o.o. Belgrade, an affiliated Finsoft company and the Serbian-based development center for Finsoft's sports-betting operations. The acquisition is expected to be completed in the third quarter of 2007, subject to regulatory and certain other closing conditions, including the spin-off of Finsoft's non sports-betting businesses to Finsoft Financial Systems Ltd., a company owned by the existing shareholders of Finsoft.

"As a leading provider of sports-betting solutions, Finsoft has built a reputation of providing its clients with leading-edge solutions enabling them to offer their players a vast variety of bets and game offerings through all channels, utilizing real-time risk management," said W. Bruce Turner, CEO of Lottomatica S.p.A. and GTECH.

"By acquiring Finsoft, Lottomatica Group is now well-positioned to deliver a complete, integrated sports-betting solution to our customers and prospects, including fixed odds, pari-mutuel, betting exchange, and soft gaming via the internet, telephone, retail, interactive TV, and mobile channels, as well as self-service terminals," continued Mr. Turner. "Our goal is to become the world's leading provider of sports-betting technology and content to government-sponsored lottery markets and regulated commercial sports-betting markets, offering a full suite of support and management services."

"Finsoft brings to GTECH an excellent management team with a specific knowledge base and expertise in the sports-betting market, as well as strong client relationships," said Predrag Popovic, Chief Executive of Finsoft. "We look forward to working with the Lottomatica Group to continue the expansion of our business in the growing sports-betting market, and the opportunity to provide government-regulated lotteries with leading-edge technology. Through our partnership with GTECH, we also look forward to continue serving our existing customer base with a wider product offering."

The global sports-betting market is a £150 billion industry. Lottomatica Group believes this market is positioned for continued high growth in the foreseeable future, driven by a number of factors such as the demand for sports-betting technology in Europe and Asia, including a number of anticipated international bids in Taiwan and Turkey; the consolidation of technology providers in this particular market; and the desire for fresh content.

Mr. Turner continued, "With Finsoft, we are well-positioned to capture new business and grow market share by leveraging our leadership position in the lottery industry, our government relations experience, global presence, and our technological skills. We also gain a new source of revenue in a high- growth area of the gaming business. All of these factors will enable us to drive incremental, profitable, top-line growth for Lottomatica Group, and drive greater value for our shareholders."

Finsoft currently employs approximately 145 people in its bookmaking teams in London and Belgrade. GTECH intends to maintain Finsoft's operations in London and Belgrade and its separate brand identity.

Finsoft's unique MarginMaker(TM) platform runs some of the most successful and fastest-growing companies in the betting industry, such as Singapore Pools, Chisholm Bookmakers, and Boyle Sports. An integration plan has been established in order to assure customers of uninterrupted services and a seamless transition.

Lottomatica is one of the world's largest commercial lottery operators and a market leader in the Italian gaming industry. GTECH is a leading gaming technology and services company, providing innovative technology, creative content, and superior service delivery. GTECH and Lottomatica together create a fully integrated lottery operator and gaming technology solutions provider - a combined company with worldwide scale, considerable financial strength, and industry-leading customer solutions. Lottomatica is majority owned by De Agostini, which belongs to a century-old publishing, media, and financial services group. Lottomatica is publicly traded on the Italian Stock Exchange (LTO), and in 2006, had more than euro 1.6 billion in revenues and 6,000 employees in over 50 countries when combined with GTECH.

Read the article on Bloomberg.com

February 2007

Finsoft partners Skill 4 Prizes for provision of skill based games

Games content provider Skill 4 Prizes is extremely proud to sign an agreement with the leading platform provider Finsoft.

Skill 4 Prizes, a games content provider with developers totalling over 20 years experience in the ‘skill with payout’ (SWP) pub kiosk arena, and Finsoft, a sportsbook and gaming platform provider with clients including Bet365, BetFred, Stan James, Paddy Power, Boylesports, Sporting Index and others, have signed up to a partnership for provision of Skill 4 Prizes content as part of Finsoft’s FINAL Gaming portfolio.

After three years research and development by Skill 4 Prizes, combining their kiosk skill set with Internet games development, the company has launched a brand new range of Internet based Skill/Fixed Odds Hybrid games termed eSWP’s.

Games include a range of picture puzzle titles and an Internet ‘Brit Quiz’ featuring over 10,000 questions! The games feature a skill element, whereby the ‘best’ players have a higher chance of winning bigger cash prizes. All games are played against the house for instant cash wins, making them both innovative and unique.

The first in a series of games is planned to be released by mid 2007.

Jim Preedy, the Managing Director of Skill 4 Prizes said: “We have been developing a game format, which falls somewhere between peer to peer skill games and traditional fixed odds soft games for several years. Working closely with many major operators and addressing their concerns, we have developed a game format that is safe, secure, fun and has a rapid game turnover. Our agreement with Finsoft is the beginnings of a great future within the Internet gaming space”.

Finsoft Managing Director Predrag Popovic commented: “Skills-based games are crossing over into the fixed odds gaming space. We are delighted to be at the forefront of this transition by partnering with innovative and proven developers such as Skill 4 Prizes.

Contact:

Jim Preedy (m: 07968 192329, t: 02920 555221, jim@skill4prizes.com)

Jamie Maskey (Jamie.Maskey@finsoft.com)

December 2006

The Racing Post: Howard Chisholm joins the growing band of layers signing up to Finsoft

INFLUENTIAL independent Howard Chisholm has decided to buy Finsoft’s Margin Maker EPOS system for his company, Chisholm Bookmakers, who operate a Northumberland-based chain of 50 shops.

Chisholm, a leading figure within the ABB and who recently sent a detailed paper to the Gambling Commission explaining why its proposed range of fees were both unfair and mistaken, said: “We have been looking for the right product that will give us the ability to compete head-on with the large multiples. The functionality available in the Finsoft product will allow us to do just that.”

Predrag Popovic, Finsoft’s MD, is understandably delighted – Chisholm is recognised as a cautious individual who will have carried out a detailed cost/benefit analysis.

Popovic said: “We are really pleased to welcome Chisholm Bookmakers to the Finsoft family of customers. This is a first-rate endorsement of our products and will enable Howard and his team to improve their offerings to the customer.”

Finsoft is also basking in the success of Michelle Fox, of Boylesports, in this year’s Racing Post/SIS Manager of the Year competition – Boylesports were one of the first bookmakers to commit to Finsoft, and have been an enthusiastic advocate of the system, which has also been particularly supported from the start by Steve Fisher of Stan James.

View the Finsoft Advert appearing in this edition of Racing Post

November 2006

Chisholm Bookmakers Choose Finsoft

Chisholm Bookmakers, the long established North-East based company have chosen Finsoft’s Margin Maker EPOS solution for their 50 shop chain of LBOs.

After a thorough investigation of the alternatives available Managing Director, Howard Chisholm has decided that the Finsoft solution is the way to take the business forward.

Howard Chisholm said ‘We have been looking for the right product that will give us the ability to compete head on with the large multiples. The functionality available in the Finsoft product will allow us to do just that.’

Predrag Popovic, Finsoft’s MD commented ‘We are really pleased to welcome Chisholm Bookmakers to the Finsoft family of customers. This is a first rate endorsement of our products and will enable Howard and his team to improve not only their offerings to the customer but also have the flexibility and infrastructure of the best EPoS solution in the market today.’

For further details of Finsoft’s systems contact Jamie Maskey on 0207 369 6800 or by e-mail Jamie.Maskey@finsoft.com

September 2006

Following 18 months of mutually beneficial co-operation, Electracade, creator of interactive gaming products, specialising in supplying and developing content for on-line, FOBT, mobile and iTV gaming platforms joins FINAL, Finsof't innovative concept for collaborative development and marketing of fixed odds games for the bookmaking market.

July 2006

Synot Tip (www.synottip.cz), one of Czech Republic's fastest growing bookmakers, signs up with Finsoft to migrate its self-service-terminals based retail operation from an in-house solution to MarginMaker.

Industry press write-ups of the Betfred's EPoS deal.
Read Racing Post article (Full page PDF / Cropped),
read article in Betting Business (Site / PDF)

Phantom Fiber and Finsoft Launch New Real-Time Mobile Betting Product (Read article in Marketwire / Open PDF)

June 2006

Betfred, the world’s largest independent bookmaker, and Finsoft, the gaming industry’s leading provider of real-time software solutions, announce a multi-million pound tie-up. Read Press Release

April 2006

Dynasty Signs Partner Agreement With U.K.'s Finsoft Limited. Read article in MarketWire / Open PDF

Brian Goodyear joins Finsoft stable. Read article in Betting Business.

November 2005

Betting Business covers the SIS/Finsoft link up. Article.

October 2005

SIS and Finsoft announce launch of a new service for the independent bookmaker. Read Press Release

August 2005

BetRoyal launches Everton FC whitelabelled site utilizing Finsoft’s MarginMaker technology

July 2005

MarginMaker powered Call Centre goes live for Singapore Pools, Asia’s premier lottery and sports betting operator.

June 2005

Bet Fred, UK’s largest independent bookmaker go live with Call Centre and Internet implementation of MarginMaker.

March 2005

Freshly acquired by IASBet, Australia’s biggest bookmaker, Capital Sports upgrade to the latest release of MarginMaker.

February 2005

Stan James and Finsoft enter into an agreement with Jackpot, Russia’s biggest slot-hall operator for provision of UK-style bookmaking service across Jackpot’s estate. Initial 10 shop roll-out in Moscow is under way.

December 2004

Meridian, Serbia and Motenegro’s largest bookmaker launches a two-shop trial of Finsoft’s EPoS in Belgrade. Fitted out as a typical bookmaking shop in UK, the shops are taking Stan James prices, SIS satellite feed and have attracted unprecedented interest from the local punters.

September 2004

Paddy Power plc will commence a pilot project in the fourth quarter of 2004 to evaluate Finsoft's EPOS system.

August 2004

MrBookmaker.com, a Malta based online bookmaker, sign up for provision of Finsoft's GamesRoom and the Virtual Horse Racing game.

June 2004

Boylesports sign up heads of agreement with Finsoft for the supply of MarginMaker across the company’s 77 branches and non-retail divisions. This will be Ireland's first implementation of a one-stop shop solution for Retail, Telephone and Online betting.

February 2004

Stan James go live with Finsoft EPoS thus completing migration of their entire business onto the MarginMaker platform.

November 2003

August 2003

UK bookmakers Stan James go live with MarginMaker Internet and Casino platform

July 2003

Capital Sports buy MarginMaker license for their new London-based bookmaker

May 2003

UK bookmakers Sporting Bet and Sporting Odds decide to standardize their systems on Finsoft’s MarginMaker platform

March 2003

UK bookmakers Stan James appoint Finsoft to build new MarginMaker EPoS system for its betting shops. The new system will be ready for delivery in February 2004

August 2002

UK bookmakers Stan James go live on new MarginMaker Call Centre.