SOURCE: Reuters

(London, England) — Online gaming firm 888.com (888.L: Quote, Profile, Research) said on Tuesday it had started taking bets on its new Italian sports betting web site as it looks to build a sizable customer base ahead of a more significant assault on online poker.

"It will boost revenues but it will also build customer numbers so we are in a good position next year when skill games we are strong in, like poker, are allowed," Chief Executive Gigi Levy told Reuters.

Analysts estimated that the sports betting site could bring in revenue of around $5 million (2.46 million pounds) to $10 million in 2008.

As 888 rebuilds after the sudden closure of the U.S. market last year, Levy said the Italian market would be one of the firm's big areas of focus over the next two years.

Under the influence of European lawmakers, Italy is slowly opening up its gambling market and despite originally opposing Internet betting, the Italian government has since said it will allow games of skill.

Firms are waiting to find out what will fall under the term "skill game" as opposed to a "game of chance", with analysts putting their money on poker tournaments being approved but a ban kept on one-off games.

Industry experts and lawyers have speculated a definition could be laid out before the end of the year.