UK-focused mobile gambling specialist Probability believes it is a step ahead of rivals in ‘the next great race in the development of the remote gaming industry’.

A provider of bingo and casino games for mobile phones, Probability’s competitive advantage arises from the difference between online and mobile gambling: while online operators only need to develop software for PCs and Macs, mobile specialists face a market in which each phone brand and even models have a different operating system. According to chief executive Charles Cohen, Probability has developed an efficient system for adding functionality for new models of mobile phone and now supports more than 2,500 handsets, significantly more than its competitors.

In the year to March, significant investment in technology and infrastructure caused losses before tax and exceptionals to balloon from £733,000 to £2.2m. Turnover rose from £833,000 to £11.9m and £1.6m of ‘net win’ was generated.

Probability is expanding quickly and saw numbers of cash-paying players rise 49% to 21,217 in the fourth quarter, with wagers increasing 83% to £6.6m. The whole industry is growing fast too and should benefit from a new Gambling Act coming in on 1 September that will permit greater advertising freedom.

Boasting £1.7m in the coffers and with no more cash outlay requirements, research house Edison sees losses reducing by 90% to £200,000 in 2008 with Probability breaking even in 2009. Although it is an early mover in a nascent but fast-moving sector, Probability is an intriguing, though high-risk, speculation.

Probability	AIM	£9.29m	43.00p	0.00p
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