Three companies--eConnect, E-SAFE Pty. Ltd. and ET&T--are working together to bring same-as-cash online sports wagering capabilities to Australia, Hong Kong and England by next summer.
The alliance, dubbed Electronic Transactions Technologies Australasia (ETTA), will require that customers purchase home-based hardware which will enable them to process ATM cards and personal identification numbers (PINs). The hardware will be available at utility companies and will cost about $70.
Through the alliance, ET&T will process the incoming same-as-cash transactions while eConnect and E-SAFE will market the services in Australia, Hong Kong, the United Kingdom and other countries. E-SAFE is currently in the process of applying for an Australian license for
Internet sports gaming and will jointly develop global Internet sports betting with eSportsbet.com.
In addition to Australia, Hong Kong and England, ETTA hopes to debut same-as-cash gaming transactions in New Zealand, Canada, Mexico, Singapore, South China, Germany and Russia by October, 2000. Because there is so much resistance to Internet gambling in the United States, ETTA services will most likely steer clear of that area.
"Same-as-cash is electronic cash by either ATM card and PIN or by the value-added EzyCard that the consumer can use to pay with cash, not credit, to our eSportsbet.com web site or to move cash purchases to non-gaming sites," said Thomas S. Hughes, chairman and CEO of eConnect.
This same-as-cash transaction system will not only apply to online gaming. It will open the door to many other types of non-gaming online transactions, such as e-commerce and electronic bill paying.
"The key is expanding Internet commerce to both credit and cash. The same home hardware that enables a same-as-cash gaming transaction can also enable a same-as-cash political donation or purchase or can also enable a more secure credit card transaction," said Hughes.