"The United States Company CYOPE Systems is Planning to License Online Poker in the UK"

The software CYOPE Systems, which develops and provides online skill-games, poker games, along with a variety of services directed toward the online gambling industry, has recently announced the development of Red Felte Software Ltd., a Britain based subsidiary,

CYOPE Systems made this decision in response to the recently approved legislation that was introduced in the United Kingdom, which is designed to strengthen and to improve all regulations, geared toward the gambling industry. The company believes that its move to register Red Felte Software in the UK is just a good business decision. CYOPE Systems, is looking to the increasing popularity of online poker to contribute to the success of Red Felte Software. The company intends to offer poker software as its main product.

Originally CYOPE’s launch date for its poker software was set for May 1, 2005. This date was later postponed so as to be certain that product testing had been properly completed before introducing it to the market. Mitch White, CYOPE Systems CEO, is reported as stating that the company expected to launch their poker software on May 1, 2005, but decided to delay its introduction to the market so as to ensure it to be 100% market ready with all beta testing completed along with the completion of all translations and the resolution of all integration issues, prior to the launching and the marketing of the new network.

Examination of statistics derived from online gambling, definitely provide one with reason to believe that CYOPE along with its London subsidiary shall fair very nicely. It is reported that online poker sites alone have generated over $2 billion in revenues during last year. This would be equivalent to 40% of the gambling revenues generated last year from all of the Las Vegas strip casinos. According to Poker Pulse, which is a company that tracks the online poker market, the number of online gamblers is estimated to be 1.7 million with approximately 150,000 people playing on the Net on any given day. The rate for online gambling has risen at approximately 30% a year.

These figures, along with CYOPE’s plan to launch the first online poker site in Asia, leads the company to feel extremely confident regarding the future of its products and the company’s position within the online gambling marketplace.