Company Information
Cryptologic was founded in Toronto, Ontario in 1995 and went live with their first casino in 1996. Wagerlogic Ltd, based in Cypress, is owned by Cyptologic and is responsible for the licensing of its gaming software and services. Wagerlogic aims its product at the high end of the casino line by keeping its regulatory standards as high as, if not higher than, land based casinos. They specialize in obliging players from all over the world. They have games in multiple languages (English, Spanish, Japanese, Chinese, French, German, and Italian) as well as casinos that accept multiple currencies (US Dollars, British Pound Sterling and Euros). Cryptologic is publicly traded on the Toronto Stock Exchange (symbol: CRY), the Nasdaq National Market (symbol: CRYP) and the Main Market of the London Stock Exchange (symbol: CRP). Their management team has decades of experience in entertainment and financial service sectors. They offer a total software casino gaming solution to operators including an integrated e-cash management system and 24/7 customer support.
Accountability
Cryptologic's 2003 Annual Report states that they “Invest in the commitment to the highest standards of transparency and regulatory compliance.” They are registered with the Alderney Gambling Control Commission which is one of the world's most regulated jurisdictions. Waterlogic does go farther than most casino software to insure the privacy of your personal information and the security of their system. Once you open an account they send you a letter to your home or land address that contains your personal PIN and account number which is necessary to be able to cash out. This helps protect the casino against fraud and the punter against identity theft.
Gaming Software
Wagerlogic offers both browser and download casinos. Their browser casino is based on Java Technology. The download casino takes about 10 minutes to load with a 56k modem and has better graphics, sound, and faster games than their browser version. An “Upload Assistant” pops up after the initial download is finished that allows you to choose the games you wish to download while you are gaming. This way you choose how heavy the casino will be on your system memory.
They offer single player and multi-player gaming. Their multi-player includes a chat option. The main lobby of the casino is a 3D environment where you can view other games. The sound effects and voice narration add to the real casino feel. They also offer tournaments which allow users to deposit a small amount (like $25), receive an amount (like $1000) in play funds, and win prizes by how much they were able to win in a certain time frame. This is a nice incentive for players as they can play in a tournament and feel like they won't have to lose millions to win.
Branding is a big issue with online casinos, as so many look and sound the same. Wagerlogic allows the operator to customize every detail of the look and feel such as game table felt colors, pattern and color of the carpets, and slot machine graphics, reel curvature, speed, and sounds. You can even change the croupier voices.
Jackpot Mania is a progressive jackpot that is shared by all of the Wagerlogic casinos. By sharing the pot you can pull in customers by offering a larger amount than you would be able to via your casino alone. It's a nice feature that slot players appreciate.
Business Software
Cryptologic has several products to assist the casino operator. Wagerlogic is a wholly owned subsidiary which focuses on casino software distribution and licensing. Wagerlogic includes an intricate and detailed back office that can produce reports on everything from activity level by game type and by client to ad tracking and affiliate programs. Every ounce of information you would need to learn about your clients habits and form a focused marketing campaign for your target market can be generated from their back office. PlayersHelp offers 24/7 well trained customer support via e-mail, live support or toll-free telephone.
ECash is another system offered by Cryptologic for payment processing. It prides itself on an incredibly low fraud rate for credit card processing of below 1%. (The market average is 2% – 5%, which can result in hefty fines against the operator from Visa or MasterCard.)
Business Model
Wagerlogic will work as the operator's project manager helping them implement all of the solutions they offer to create the optimum casino environment. They assist in branding as well as developing your marketing strategy and training your support. PlayersHelp and ECach Direct are additional licenses that an operator can choose to use, allowing all of the operators resources to focus on marketing. Additionally, WagerLogic’s licensees pay a continuing fee for the licensing and support of their software, calculated as a percentage of each licensee’s level of activity. Additional revenues are derived from the provision of software customization, e-cash processing and advertising services. Their licensing agreements range from 3 to 5 year contracts.
Operators
Wagerlogic has approximately 21% of the online casino market. This is the second largest percentage held by a software company (Microgaming is first at 38%). They have ove8 clients, including several extremely reputable land-based casinos. Their land based casino clientele include: William Hill, The Ritz Club London, Littlewoods Gaming, ukbetting plc and Betfair.