November 27 - Online casino software provider CryptoLogic, has been given a jolt which is
causing tremors in the online casino industry. CryptoLogic were to have teamed
up with Bet Fair and provide the large betting exchange with its software so Bet
Fair could launch there own online casino.
An announcement by? Bet Fair that they will develop there own online casino
has left CryptoLogic in shock. If other large casino, sports betting and poker
sites follow this trend, CryptoLogic could see its client base dwindle rapidly,
with them loosing millions from lost licensing fees and royalties. Both
companies are however remaining silent on how they will deal with their current
relationship.
The effects have however already been felt with the share price of CryptoLogic
dropping significantly on the announcement. There is great risk in trying to
develop your own software in the online casino field as the main providers have
been there and done that. Bet fair may be mistaking their ability to compete
with software which has been in development for over 10 years.
The jury is out and we will have to wait and see how this latest online casino
development affects the industry.
