CYOP Systems International Inc. and RDC Services Ltd. have inked an agreement whereby the former will license its poker software, developed by subsidiary Red Felt Software, to the latter.
RDC is an experienced interactive marketing and management outfit, and will pay a set up fee and a percentage of the net rake to Red Felt Software Inc.
Completion of the new licensee site is expected by the end of August 2005 with marketing commencing toward the end of summer; historically a good time to begin interactive gaming site promotion.
The Red Felt package includes a full website, no-download poker software backed by real time reportage, hosting and server monitoring and credit card processing.
CYOPs claims that more than 200 online poker sites collectively are generating some $3 billion a year in revenues, with an estimated 1.7 million players active online as Internet poker players in the past six months. 150,000 people play on an average day, according to PokerPulse.com.
Online gaming will continue to be an explosive cash generator. Gaming consultants Christian Capital forecast that gaming revenue will rise to $22.7 billion (US) by 2009, from $8.2 billion in 2004, a growth of 22 percent. Online gaming is also expected grab an 8.1 percent share of the global gaming market.
The CYOP – Red Felt poker software can be previewed at Red Felt.com, and the proprietary play for cash site Ten Seat Poker.com.