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Wager Island becomes the largest "virtual real estate" transaction reported to date. Wager Island is an online gaming package designed to capture a gambling niche in the multi-billion dollar online gaming industry. Rather than traditional casino games and online poker, Wager Island offers alternative online gaming in a fantasy socio-economic island environment.  
Released:  6/1/2006 1:24:48 AM
Company URL:  http://www.prweb.com/releases/2006/5/prweb391855.htm
Last View:  8/15/2008 12:50:15 AM
Page Views:  369




Press Release:

First International Holdings Limited (FIH) of Dominica made history March 15, 2006 with the largest purchase of virtual real estate ever recorded.

FIH purchased a virtual island online-gaming-package from an Irish software development firm and turned it into Wager Island, https://www.wagerisland.com/. The lease was reported to be for 320,000 USD with the developers retaining an undisclosed percentage of revenue from the virtual island’s future profits.

In a gaming market saturated with casino and poker games, Wager Island aims to reinvigorate what FIH labels as an “industry ready for fresh online gaming experiences.”

Wager Island is unique in the respect that players can bet on its virtual real estate market, fantasy stock exchange and make believe gold mining industry. Games will continue to be added as the island grows.

Furthermore, players can opt to become involved in the island’s political structure which include 6 party factions that influence law and regulations on the island. A Wager Island virtual media network also allows players to stay abreast of current events to make better informed wagers.

FIH lists other "neoteric or alternative online gaming" successes such as Entropia, a company out of Sweden that develops virtual worlds it sells to “game masters”. The “game masters” then create simulated economies around these worlds that registered players exploit, trading real money for virtual money, as cited in several articles appearing on the BBC.

Rather than being a Multi-Player Role Playing Game or MPRPG, like Entropia, Wager Island is a interactive portal for virtual online gaming or online betting. But instead of traditional casino games and card games it focuses on aspects of what makes a society, economy and political structure tick, virtually.

Wager Island utilizes a number of payment systems from traditional credit card transactions to virtual currencies such as e-gold.

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