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Is CYOS levered to online poker itself (does it own and/or benefit from tenseatpoker.com), or does it simply sell the software for sites such as these????? I'm not sure if CYOS is simply an online poker/games software company, or if it does own the tenseatpoker.com site. (wouldn't that be illegal in the US, if the let Americans play it?) Any other thoughts?
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quote:Originally posted by seeksup: Is CYOS levered to online poker itself (does it own and/or benefit from tenseatpoker.com), or does it simply sell the software for sites such as these????? I'm not sure if CYOS is simply an online poker/games software company, or if it does own the tenseatpoker.com site. (wouldn't that be illegal in the US, if the let Americans play it?) Any other thoughts?
this is my best understanding, they are a software company that makes software for poker sites and are now launching there own site with there own software, the profits of these companies are amazing, the current top company in this industry claims to make over a million dollars a day, they are going public sometime later this year. No, it is not illegal to play online poker in the US the US is about 75 percent of the customer base of the online poker industry. It is only illegal to base a site in the US that is why most do them in the UK, Just to add one last thing I dont have any idea if this stock will go up or down in the next few days, months but I do know online poker is HUGE, the site I play on (not the top one) has stock that has only been around a week or so and it is at around $1.75 a share, CYOS is only .05 a share I like the potential Im thinking the next few weeks are going to be very good to me, but do your research and only risk money you can afford to risk like with any stock.
posted
Thank you for your reply. I have done a lot of research on Cyop Systems and am actually "in" since a month ago when I read that they were going to dabble in "online poker"; I thought this alone would boost the stock, which it did. In their recent press releases, Cyos talks about tenseatpoker as if it is their own. On the other hand, Cyos is based in southern California, which led me to my question about how much they actually will be able to be levered to tenseatpoker.com (secondary to legal reasons, as you pointed out). Plus, they are a pink sheet, so they don't have to really report what their business model/plans are for this investment. I have already taken back what I originally put in, and am now fairly long because I want to see if this company can live up to the potential that they keep insinuating is there. Thanks again-
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One more thing... if you go to redfelt.com you can go to the link "CYOP Systems to License Online Poker". Here they talk about licensing their online poker through redfelt.com, their new company that will be based in the UK. So, it sounds like to me that this will be legit - unless the feds don't like it that an American company simply started a European company, then started an online poker room, in order to skirt American laws. This sounds shady, but if Cyop knows what they're doing (my investment says they do), it should pay off big with proper marketing and site management.
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there are many people that have offshore business, common one is online pharmacies, they are not legal in the us so they open offshore account and run there business out of the country since it is not legal here. the uk is a common place to base these type of business' many online casino and online poker is done the same way, as far as I understand its all on the up and up, there major company is in the us and they own another compnay in the uk
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CYOP Launches TenSeatPoker.com Internet Poker Site Ready for Cash Play
June 20, 2005 09:20:02 (ET)
BEVERLY HILLS, Calif., Jun 20, 2005 (BUSINESS WIRE) -- CYOP Systems International Inc. (CYOS, Trade), a leading provider of online gaming software, is pleased to announce it has launched its Internet poker software for play at www.tenseatpoker.com operated through the company's UK subsidiary Red Felt Software Inc.
The previously announced non-downloadable Texas Hold'em poker game at TenSeatPoker.com is ready for cash play, meaning players do not have to install large files on their computers. A secure transaction system has been developed with multiple layers of security and redundancy, allowing players to use multiple forms of payment.
As reported by the UK Register: "In the two years since online poker first tempted punters, the industry has grown from $100,000 in gross rake per day in January 2002 to between a staggering global $2m and $2.5m."
More than 200 online poker sites collectively are generating about $3 billion a year in revenues, equal to 60% of last year's $5 billion in gambling revenues from all of the Las Vegas "Strip." An estimated 1.7 million players are active online, meaning they've played in the past six months. And about 150,000 people play on an average day, according to PokerPulse.com.
And, online gaming company PartyGaming PLC has set an indicative price range for its initial public offering at 111 pence to 127 pence a share, implying a market capitalization of GBP 4.76bn ($8.6bn) using the mid-point of the range. This will be enough to leap the company into the UK's benchmark FTSE 100 index on its debut.
Mitch White, CEO of CYOP, commented, "We are happy to have taken CYOP's poker out of development and into revenue. The amount gambled on poker websites around the world in 2005 is estimated to be more than USD $60 billion, and the commission revenues around USD $3 billion. CYOP intends to begin marketing its software immediately to the end user and through business partnerships with existing gaming sites and portals."
About CYOP
CYOP is a developer and provider of online skill-games, poker and services for the online gaming industry. CrediPlay, CYOP's licensed application, is an online transaction platform that is based on charging a fee for each game played over the Internet. CYOP's central games portal, www.skillarcade.com, features virtual games where people play popular skill games against other players and compete in tournaments to win real money prizes. CYOP's Poker Software may be viewed at www.redfelt.com, and its play for cash site at www.tenseatpoker.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, risks associated with market acceptance and technological changes, risks associated with dependence on software providers, and risks associated with competition.
Play Games. Win Games. Make Money. (TM)
SOURCE: CYOP Systems International Inc.
CYOP Systems International Inc. Patrick Smyth, 310-248-4860 Patrick@cyop.org Copyright Business Wire 2005
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I sold enough at .07 to cover my investment, I was in at .0167 I will let the rest ride atleast a few days, it will be exciting to watch the site and the stock, glta
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thanks peaser, Im glad you held till today, you made more and are keeping us up on whats going on, I dont have all that fancy info like you have
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Yes !! You are correct!!! I Posted the r/s thing on the wrong thread...My bad!!! I was thinking PLNI... I clicked on the wrong place.. SORRY!!!
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BEVERLY HILLS, Calif.--(BUSINESS WIRE)--June 22, 2005--CYOP Systems International Inc. (OTCBB:CYOS - News), a leading provider of online gaming and poker software, is pleased to announce that its licensed online Pool Game has been launched on Sina.com. CYOP's multiplayer pool game may be found exclusively for the Game Channel on SINA.com Online. SINA will further arrange fixed entry points by providing tournaments on the SINA Taiwan and Beijing Channels, linking on-line traffic to the co-branded Games site in the US.
Initial test have proven extremely positive with over 27,000 unique hits with over 2000 players joining since the launch.
The Company intends to sell advertising and sponsorships within the games and related site. As well, CYOP will be hosting and managing multiplayer tournaments with cash prizes.
Online advertising revenue in Asia-Pacific is expected to rise by a compound growth rate of about 40% in the next five years, according to research firm International Data Corp (IDC). It expects money spent on internet advertising to reach US$1.62 billion by 2007, up from $304.3 million last year.
Online gaming revenues in the Asia-Pacific region will reach $1.84 billion by 2008, according to a recent report from IDC.
Mitch White, CEO of CYOP, commented, "Not only is gaming huge in China, Sina Corp, China's biggest online advertising company, reported a 59% year-on-year rise in its online advertising revenues in 2004. Sina's arch-rival Sohu notched up an impressive 89% growth in its online advertising revenue, and NetEase, the other top Chinese portal, saw its online advertising revenue almost double from last year. This is the first of two Chinese products to be launched, with our online poker scheduled next on Sina."
On a business note, the Company has postponed its AGM until September and will advise shareholders closer to the date.
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