BUSINESS

Two Way get regulatory nod for TV betting

TAGs: TAB Active, TAB Interactive TV betting service, TattsBet, Two Way Limited

Just last month, Two Way announced that it had signed an agreement with Betfair to deploy a new interactive TV sports betting service service to be rolled out on TV sets and Blu-ray players with built-in connections to the Internet.

Now, Two Way Limited has received regulatory approval in the Australian state of Queensland for the launch of the company’s TAB ACTIVE interactive TV betting service in conjunction with TattsBet Limited.

With news of the approval for the service, Two Way Limited shares jumped 30 per cent to $0.039 per share in Sydney.

A specific launch date has not been announced but it is expected the service will go live towards in the second half of the year.

Too bad for everyone else, but the service will only be available for TAB account holders. Two Way will be under a 12 month probationary period after which their approval to offer the service will be subject to review.

A condition of Two Way’s approval was that the company was required to design the service to accommodate customers to be able to set or change their betting limits, and be able to self-exclude themselves from TattsBet account wagering services.

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