AN AIM-listed technology company today saw its shares rocket by almost 50% after it launched a service in conjunction with Sky TV allowing punters to gamble over their mobile phones, writes Jim Armitage.

TV Commerce's product allows gamblers to bet on roulette, poker, blackjack and other games.

But its most popular feature is likely to be a simple fruit machine, which also provides players with a daily horoscope. The company makes its money from its cut of the winnings. The games can be downloaded quickly to most mobile phones, and punters bet by putting money into a deposit account with the company.

TV Commerce is marketing the games through links to the Your Destiny channel on Sky, a fortune-telling channel whose main audience is women watching daytime television at home.

Shares in the company jumped 2p to 6.25p on news of the launch. Chief executive and 70% shareholder Vince Stanzione floated the business in February at 6p.

(c)2005. Associated Newspapers Ltd.. Provided by ProQuest Information and Learning Company. All rights Reserved.