Bwin: Difference between revisions
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The parent company, bwin Interactive Entertainment AG, has been listed on the [[Vienna Stock Exchange]] since March 2000. The Company provides services for its subsidiaries such as marketing, finance and administration, corporate communications, controlling and IT services. All operational activities are managed by licensed subsidiaries. |
The parent company, bwin Interactive Entertainment AG, has been listed on the [[Vienna Stock Exchange]] since March 2000. The Company provides services for its subsidiaries such as marketing, finance and administration, corporate communications, controlling and IT services. All operational activities are managed by licensed subsidiaries. |
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== History == |
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bwin – known as '''bet'''and'''win''' from its founding until 2006 – began life with 12 employees in 1997. The company launched its first [[Online gambling|online gambling]] site just one year after the company was founded, focusing on the growing [[Sports betting|sports betting]] market. One of the most important developments in the history of the company was the launch of its live bet product, developed in house, allowing players to place bet on sporting events while the actual event is taking place. The firm`s [[Initial public offering|initial public offering]] at the [[Vienna Stock Exchange|Austrian Stock Exchange]] took place in March 2000. In June 2001, '''bet'''and'''win''' acquired Simon Bold ([[Gibraltar]]), which is now known as bwin International Ltd., essentially moving its operations to Gibraltar. The move was made to follow some of the company’s biggest rivals to the island. By December 2001, '''bet'''and'''win''' was ready to step into the [[Online casino|online casino]]gaming market and did so by launching its first casino platform. Two years later, in July 2003, '''bet'''and'''win''' introduced and launched a soft games platform known as Balls of Fire. In November 2004, betandwin launched multiplayer [[Poker|poker]]. The group acquired betoto.com to expand its presence in the Greek market in June 2005, a company which offers a [[Fixed-odds betting|fixed-odds betting]] service to punters around the globe. December of the same year marked another major acquisition – Ongame e-Solutions AB was taken over. This acquisition was a move consistent with the group’s strategy to expand into the poker market, after the takeover Ongame e-Solutions changed its name to bwin Games. Still in 2005 '''bet'''and'''win''' acquired global media rights outside of [[Germany]]to the Germany Football League[[German Football League]]. In August 2006 '''bet'''and'''win''' launched the new bwin brand. This was done after it was found that the '''bet'''and'''win''' brand, which was described as “descriptive, high-grade and functional”, was not suited anymore for the wide assortment of entertainment offerings covered by the company, including [[Sports betting|sports betting]],[[Poker|poker]], soft games, and [[Casino games|casino games]]. In 2007, bwin began to offer live streaming of major sports events. In September 2009, bwin announced another acquisition – this time of [[Italy]]’s oldest online gaming site, Gioco Digitale. The 100% acquisition allowed bwin to enter the growing Italian poker market.<ref>[http://www.gamblingsites.com/history/bwin/ Bwin.com History aka Betandwin], accessed 7 April 2010.</ref> |
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== Products == |
== Products == |
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Revision as of 10:55, 9 April 2010
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| Company type | Public (WBAG: BWIN) |
|---|---|
| Industry | Entertainment |
| Founded | 1999 |
| Headquarters | Vienna, Austria |
Key people | Manfred Bodner (co-CEO), Norbert Teufelberger (co-CEO), Hannes Androsch (Chairman of the supervisory board) |
| Products | Sports betting, online gambling |
| Revenue | €403.5 million (2008)[1] |
 (€17.9 million) (2008)[1] | |
| (€12.8 million) (2008)[1] | |
Number of employees | 1,410 (2008)[1] |
| Website | www.bwin.org |
bwin Interactive Entertainment AG (WBAG: BWIN), formerly betandwin (until 2006), is an Austrian based online betting company. The group operates under international and regional licences in countries like Gibraltar, the Amerindian reserve of Kahnawake (Canada), and Belize; and Germany, Italy, Mexico, Croatia, Austria and, the United Kingdom in Europe. The Group offers sports betting, poker, casino games, soft and skill games with most revenue coming from poker and sports betting. bwin has over 20 million registered customers in more than 25 core markets. Competence centres are located in Vienna, Stockholm, and Gibraltar.[2]
The parent company, bwin Interactive Entertainment AG, has been listed on the Vienna Stock Exchange since March 2000. The Company provides services for its subsidiaries such as marketing, finance and administration, corporate communications, controlling and IT services. All operational activities are managed by licensed subsidiaries.
History
bwin – known as betandwin from its founding until 2006 – began life with 12 employees in 1997. The company launched its first online gambling site just one year after the company was founded, focusing on the growing sports betting market. One of the most important developments in the history of the company was the launch of its live bet product, developed in house, allowing players to place bet on sporting events while the actual event is taking place. The firm`s initial public offering at the Austrian Stock Exchange took place in March 2000. In June 2001, betandwin acquired Simon Bold (Gibraltar), which is now known as bwin International Ltd., essentially moving its operations to Gibraltar. The move was made to follow some of the company’s biggest rivals to the island. By December 2001, betandwin was ready to step into the online casinogaming market and did so by launching its first casino platform. Two years later, in July 2003, betandwin introduced and launched a soft games platform known as Balls of Fire. In November 2004, betandwin launched multiplayer poker. The group acquired betoto.com to expand its presence in the Greek market in June 2005, a company which offers a fixed-odds betting service to punters around the globe. December of the same year marked another major acquisition – Ongame e-Solutions AB was taken over. This acquisition was a move consistent with the group’s strategy to expand into the poker market, after the takeover Ongame e-Solutions changed its name to bwin Games. Still in 2005 betandwin acquired global media rights outside of Germanyto the Germany Football LeagueGerman Football League. In August 2006 betandwin launched the new bwin brand. This was done after it was found that the betandwin brand, which was described as “descriptive, high-grade and functional”, was not suited anymore for the wide assortment of entertainment offerings covered by the company, including sports betting,poker, soft games, and casino games. In 2007, bwin began to offer live streaming of major sports events. In September 2009, bwin announced another acquisition – this time of Italy’s oldest online gaming site, Gioco Digitale. The 100% acquisition allowed bwin to enter the growing Italian poker market.[3]
Products
The company's subsidiaries and affiliated companies offer sports betting, poker, casino games and soft games, as well as audio and video streams on sporting events, such as the German Bundesliga. These are all provided via the Internet, and many are also available via other digital distribution channels, such as mobile phone.
bwin Games AB
bwin Games AB — founded in 1999 and formerly known as Ongame e-solutions AB — became part of the bwin Group following its acquisition, in March 2006, by bwin Interactive Entertainment AG.
Within the bwin Group, bwin Games AB acts as the competence centre for poker and casino games, developing products via digital distribution channels for bwin proprietarily owned brands, such as PokerRoom.com, HoldemPoker.com, eCardroom.com, PokerGaming.com, Europoker.com, and the Ongame Network partners.
PokerRoom.com
PokerRoom.com was an online poker cardroom founded in 1999. Licensed by the Kahnawake Gaming Commission, PokerRoom offered both play and real money formats. Tournaments and ring games were available in both web-browser and download client platforms, with support for both Macintosh and Linux. PokerRoom was one of the first online poker sites to provide multi-language support, and catered to Danish, German, Spanish, French, Italian, Russian, and Swedish speakers. These languages were accessed via "regional sites," many of them showing local sponsoring for the selected region.
Legal issues
PokerRoom also maintains a play money only site, PokerRoom.tv, that is advertised in Canada on the boards of National Hockey League rinks, as well as on U.S. television networks like ABC.
Awards
PokerRoom has won industry awards such as Poker Site of the Year from the UK Gambling Awards in 2006 and Top Poker Software from the Online Gambling Magazine Awards in 2005.
Shutdown
After 10 years of operation, bwin announced the closure of PokerRoom.com on April 14, 2009. Players with money still left in their accounts were encouraged to transfer their balance and play at bwin.com.[4] However, PokerRoom.com players with large "play money" accounts had to abandon those accounts when transferring to bwin.com.
Legal Status
The global legal framework for Internet gambling is a complicated mix of laws and regulations, bwin`s situation varies therefore depending on the country concerned. For several years now, the United Kingdom and Italy have been examples of countries that have regulated their online gaming markets to the advantage of all stakeholders. Just recently, Italy extended its online licences to include poker tournaments, and countries like France, Spain and Denmark announced their intention of permitting private operators access to their markets under stringent conditions and controls. Other countries, on the other hand, are still pursuing a policy of maintaining a state monopoly of internet gaming, or even a complete ban.
On the 15 September 2006, Norbert Teufelberger and Manfred Bodner were arrested[5] at a press conference in La Turbie, France, due to offenses against the French gambling laws. After an investigation the judge released them on the evening of September 18, 2006.
As of October 2006, bwin no longer takes bets from United States players, due to the signing of the Safe Port Act.[6][dead link]
On 6 March 2007, the European Court of Justice struck down Italian national gambling restrictions in the Placanica case.[7][dead link]
The EFTA Court held hearings in January 2007 to decide on the admissibility of a state monopoly for betting and gaming according to European Law. The decision of the EFTA Court will be made on 14 March 2007.
In September 2009, bwin announced the acquisition of Italian poker operator Gioco Digitale, marking the company's entry into the Italian online gambling market.[8]
Sponsorship
Among bwin's sponsoring activities, the group is a partner of leading European sports.
bwin currently sponsor football giants Real Madrid and A.C. Milan, as well as Slovan Liberec of the Czech Republic; they have also sponsored Bayern Munich in the past, as well as the top Portuguese football league from 2005 to 2008, where the league was known as Liga betandwin.com for one season, then switched to BWINLIGA.
Sponsoring contracts have been made with other sports, such as the MotoGP World Championship, the Green Dragon team in the 2008–09 Volvo Ocean Race[9], the International Basketball Association (FIBA), the Kite Surf Pro Tour in Tarifa (Spain), as well as many other top events in the international and local sports world.
The bwin.com logo appears in the music video for Lady Gaga's hit single "Poker Face".[10]
The company have faced some opposition in Europe over sponsorship of sports, especially football. In 2006 Bremen banned its top football team, Sportverein Werder Bremen, from carrying the bwin logo on its shirts.[11] In November 2009, the city acted further by moving against sports stores which sold shirts from other teams (such as Milan and Real Madrid).[citation needed]
Awards
At the annual EGR Awards organized by eGaming Review magazine, bwin won the "Operator of the Year 2009" award.[12]
Notes
- ^ a b c d "Annual Report 2008" (PDF). bwin. Retrieved 2009-10-03.
- ^ Google Finance: bwin Interactive Entertainment AG
- ^ Bwin.com History aka Betandwin, accessed 7 April 2010.
- ^ Bwin Announces PokerRoom.com Shutdown, 4flush.com, 15 April 2009, accessed 20 April 2009.
- ^ Online gambling bosses arrested in France via the Guardian
- ^ bwin: US SAFE Port Act signed into law by President George W. Bush
- ^ EU Court Strikes Down Italian Gambling Restriction via Bloomberg
- ^ Bwin buys Gioco Digitale for push on new Italy market, egrmagazine.com, 14 September 2009, accessed 3 December 2009.
- ^ "bwin and United Games to sponsor Volvo Ocean Race team and let gamers steer the boat". unitedgames.info. 2009-05-15.
- ^ bwin features in the Lady Gaga hit "Poker Face"
- ^ [1] Werder Bremen to Appeal Betting Firm Sponsor Ban in Court
- ^ Bwin crowned EGR Operator of the Year 2009, egrmagazine.com, 1 December 2009, accessed 3 December 2009.
