AIE Introduces Closed-Loop Betting System

25 June 1999
Atlantic International Entertainment, Ltd. (AIE) has taken a big step toward preparing itself for life beyond Internet prohibition in the U.S. The veteran online gaming software developer, soon to be known as Online Gaming Systems Ltd., just introduced a closed-loop(hole) betting network in an effort to provide interactive wagering that is legal in the U.S.

The new product, which the company calls a closed-loop VPN (Virtual Private Network), was designed to allow use only designated geographic areas. The system will be offered to state governments and can include gaming and wagering products.

"We feel it is important to introduce a product that can be utilized by gaming operators to offer the limited online gaming services contemplated by current and proposed U.S. legislation. The AIE state-of-the-art closed-loop system can accomplish this," said Richard Iamunno, president and CEO of AIE.

The VPN product is structured so that transactions can be limited to players within a specific geographic area so it can be used in accordance with all gaming regulations. The system is also designed to combat underage and problem gaming.

"Unlike the Internet, where anyone can dial up and play, a private network allows the operator a lot more control," Iamunno said. This control makes it possible to limit underage gaming by thoroughly checking age identification and requiring each player to get an access code. Operators may also put together a problem gaming profile and limit players' access if they meet the profile."

AIE offers private network transaction-based products in addition to wagering, and these are what AIE believes will put it above the competition. The products include: Internet Casino ExtensionTM (ICETM), webSportsTM, an Internet sports wagering system; Lotto MagicTM, a lottery system for private, government and fund raising purposes; and Bingo BlastTM a multi-player system for charity and private organization use.

Iamunno said that the company will make product presentations in the U.S. during the third quarter, leading with the VPN product system. "As U.S. online gaming regulation continues to take form," he said, "we will respond appropriately by modifying and re-designing our products to best meet the needs of the marketplace."