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Global Betting Exchange Powers New Philippines Sportsbook

24th November 2009 9:34 am GMT

Orient Capital Ventures Inc, a subsidiary of online and land-based gaming operator AsianLogic Limited, has chosen Irish-based Global Betting Exchange (GBE) to deliver a full sports betting solution including retail, telephone and SMS betting services to its MegaSportsWorld branded sports betting outlets in the Philippines.

Orient Capital Ventures Inc (OCVI), in which AsianLogic Limited owns a 60% shareholding, will be the latest licensee of GBE's iBroker sportsbook software, allowing OCVI to automate all aspects of its sportsbook management from creation and pricing to settlement of events, while providing automated risk management and dynamic hedging.

"GBE continues to break new ground with iBroker. This partnership with OCVI and AsianLogic, one of the leading operators in Asia Pacific region, is a huge endorsement not only for this product but also for GBE's global operational abilities," said Brian O'Sullivan, Chief Executive of GBE.

The retail operation is being rolled out through OCVI outlets and local operating partners under the MegaSportsWorld brand, with the company additionally operating a countrywide telephone betting service, both of which launched earlier this month.

"We have chosen GBE's iBroker because it is a low-cost sportsbook platform with the most sophisticated risk management technology on the market today. We feel it is an excellent solution for the Philippines market," said Kan Tang, Group Managing Director of AsianLogic.

"In fact, the first big test of the system was the Pacquiao-Cotto fight last weekend which drew unprecedented interest and a very high volume of one-sided bets from the local betting public. I am happy to report that everything was handled smoothly and problem free."

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