EXHIBIT 4.7

                    UNSECURED CONVERTIBLE LOAN NOTE DUE 2005


THIS CONVERTIBLE LOAN NOTE is issued by World Gaming Plc (whose registered
office is at 47 Castle Street, Reading, RG1 7SR (the "Company")) to Goodison
Park Limited (whose office is at Sea Meadow House, Blackburne Highway, P.O. Box
116, Town Road, Tortola, British Virgin Islands) in respect of a loan of
principal amount of US$900,000 (receipt of which the Company hereby
acknowledges) provided on and subject to the Conditions set out below.

                                 The Conditions

1        Repayment

         Unless previously repaid or redeemed the principal amount of the Note
         shall be repaid to the Noteholder in full at par on the date being two
         years from the issue date of the Note or if such date is not a Business
         Day, the Business Day next following.

2        Events on which Notes become immediately repayable

         The Noteholder shall be entitled to require the Note to be repaid
         immediately at par in each of the following events:

         the making of an order by a competent court or the passing of an
         effective resolution for the winding-up or dissolution of the Company
         or any subsidiary (other than for the purposes of a reconstruction,
         amalgamation, merger or members' voluntary winding-up on terms
         previously approved by the Noteholder); or

         the taking of possession by an encumbrancer of, or the appointment or
         application for the appointment of a trustee, administrator or
         administrative receiver or manager or a similar officer over, or an
         administration order being made or applied for in respect of, any part
         or the whole of the undertaking or property of the Company or any
         subsidiary; or

2.3      the Company fails to comply with any other terms of these Conditions;
         or

2.4      if the Company or any subsidiary ceases or threatens to cease to carry
         on its business or a substantial part of its business; or

         if the Company or any subsidiary (except at arm's length in the
         ordinary course of its business and for full consideration) sells,
         transfers, leases or otherwise disposes of all or a substantial part of
         its business or assets whether by one or a series of transactions
         related or not; or

         if the Company or any subsidiary initiates or consents to proceedings
         relating to itself under any applicable bankruptcy, insolvency,
         composition or other similar laws or makes a conveyance or assignment
         for the benefit of, or enters into any composition with, its
         creditors generally; or

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2.7      if the Company or any subsidiary is subject to any change of control.

         The Company shall give the Noteholder notice of the happening of any of
         the foregoing events promptly after becoming aware of the same

3        Conversion

3.1      Conversion Period and Price

         The Noteholder shall have the right at any time in the period (the
         "Conversion Period") during which any amount under the Note remains
         outstanding (the "Conversion Right") to require the Company to redeem
         at its principal amount, the principal amount of all or part only of
         the Note (subject to a minimum nominal amount of US$50,000 or multiples
         thereof) on the Conversion Date therefor which shall take effect as an
         irrevocable direction to the Company promptly to apply the redemption
         monies for subscription on behalf of the Noteholder of Shares in the
         capital of the Company, which subscription shall be fully satisfied by
         the Company retaining and applying such redemption monies in the
         payment up of new Shares. Redemption moneys held by the Company pending
         application of the same shall be held by the Company as bare trustee
         for the Noteholder. The redemption of the vote and application of the
         redemption monies in respect thereof as provided in this Condition 3.1
         is referred to as a "conversion" in these Conditions and "converted"
         shall be construed accordingly.

         The conversion prices is US$ 0.12 per Share (the "Conversion Price").

         Where a Conversion Right is exercised in respect of part only of the
         Note, the Note shall be amended to reflect the principal amount of the
         Note in respect of which the Conversion Right is not exercised.

         The number of Shares to be issued on exercise of a Conversion Right
         shall be determined by dividing the principal amount of the Note (or,
         in the case of conversion of part only of the Note, the principal
         amount thereof (being not less than US$100,000 or multiples thereof in
         principal amount)) being converted by the Conversion Price. Shares to
         be issued on conversion will be deemed to be registered as of the
         relevant Conversion Date in the name of the holder of the Note
         completing the Conversion Notice or his nominee.

 3.2     Procedure on Conversion

         A Conversion Right may be exercised by the Noteholder delivering at any
         time during the Conversion Period to the registered office of the
         Company a notice of conversion signed by the Noteholder stating the
         principal amount of the Note required to be converted (a "Conversion
         Notice").

         Conversion Rights shall be exercised subject in each case to any
         applicable fiscal or other

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         laws or regulations applicable in the United Kingdom at the time of
         such exercise.

         The conversion date in respect of a Note (the "Conversion Date") shall
         be the second Business Day following delivery of the relevant
         Conversion Notice in accordance with this Condition 3.2. A Conversion
         Notice once delivered shall be irrevocable.

3.3      Shares

         Shares allotted on conversion will be credited as fully paid and will
         rank pari passu in all respects with the fully paid Shares in issue on
         the Conversion Date, except that the Shares so allotted will not rank
         for any dividend or other distribution declared or paid or made by
         reference to any record date for the payment of a dividend or other
         distribution with respect to the Shares which is prior to such
         Conversion Date.

4        Payment

         Payment of the principal for the time being due and owing on the Note,
         or any part thereof, may be made by bankers draft or telegraphic
         transfer made payable to the Noteholder or to such person or persons as
         the Noteholder may in writing, received by the Company at least five
         Business Days prior to the date of such payment, have directed.
         Payments will be subject in all cases to any applicable fiscal and
         other laws and regulations.

5        Transfer of the Note

         The Noteholder may assign or transfer all its rights in respect of the
         Note by instrument in writing in the usual or common form upon and
         subject to the Conditions to any person whose name and address is
         notified by the Noteholder to the Company.

6        Dealings

         The Note shall not be capable of being dealt in on any stock exchange
         in the United Kingdom or elsewhere and no application has been or is
         intended to be made to any stock exchange for the Note to be listed or
         otherwise traded.

7        Notices

7.1      Any notice or other document may be given or sent to the Noteholder by
         sending it by post in a pre-paid envelope addressed to the Noteholder
         at its address stated above (or if it so chooses, at an address within
         the United Kingdom supplied by it to the Company for the giving of
         notice to it).

7.2      Any notice, demand or other document (including transfer of the Note)
         may be served on the Company either personally or by sending the same
         by post in a pre-paid envelope addressed to the Company at its
         registered office for the time being (marked for the attention of the
         Company Secretary) or to such other address in England as the Company
         may from time to time notify to Noteholder.

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7.3      Any notice given or document sent by first class post shall be deemed
         to be served or received at the expiry of 24 hours (or, where second
         class post is employed, 48 hours) after the time when it is posted. In
         proving such service or receipt, it shall be sufficient to prove that
         the envelope containing the notice or document was properly addressed,
         stamped and posted.

8        Covenant by the Company

         The Company covenants with the Noteholder that it will not without the
         prior written consent of the Noteholder create, allot, issue or redeem
         any share or loan capital or grant or agree to grant any options for
         the issue of any share or loan capital (other than any shares issued
         pursuant to the normal operation of the rules of the Company's 2001
         Share Option Scheme but excluding all executive arrangements) or effect
         any other change in the Company's share capital whether by
         sub-division, consolidation, bonus issue or otherwise.

9        Covenants by the Directors

         The Directors each covenant that they shall (subject to acting within
         their fiduciary duties) carry out all such acts, vote in favor of all
         such resolutions and execute all such documents as may be necessary
         (provided they are legally able to do so) to effect the allotment and
         issue of the Shares to the Noteholder promptly following the exercise
         of a Conversion Right and to procure that the Noteholder's name is
         entered into the register of members of the Company, and it is issued
         with a duly executed share certificate, in respect of such Shares.

10       General

         The Noteholder shall be recognised by the Company as entitled to the
         Note free from any equity, set-off or counterclaim on the part of the
         Company against the original or any intermediate holder of the Note.

11       Governing Law

         This Note shall be governed by and construed in accordance with English
         law. The Company and the Noteholder irrevocably agree that the courts
         of England are to have exclusive jurisdiction to settle any dispute
         which may arise out of or in connection with this Note and irrevocably
         submit to the jurisdiction of such courts.

12       Definitions

         In this Note the following expressions shall where the context permits
         have the following meanings:

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         "Business Day" means any day (excluding Saturdays and Sundays) on which
         banks in London are open for business;

         "Conditions" means these conditions upon which this Note is issued;
         "change of control" means any event or circumstance whereby a person
         (or persons acting in concert) acquires or agrees to acquire or
         acquires options over direct or indirect control (1) of the affairs of
         the Company or any subsidiary, or (2) over more than 50 per cent of the
         total voting rights conferred by all the issued shares in the capital
         of the Company or any subsidiary which are ordinarily exercisable in
         general meeting or (3) of the composition of the main board of
         directors of the Company or any subsidiary. For these purposes "persons
         acting in concert", in relation to the Company or any subsidiary, are
         persons which actively co-operate, pursuant to an agreement or
         understanding (whether formal or informal) with a view to obtaining or
         consolidating Control of the Company or any subsidiary;

         "Directors" means Nicholas Jackson and Clare Roberts each of KFH
         Building, Liat Road, St. John's, Antigua and "Director" means any one
         of them, as the case may be;

         "Note" means this Unsecured Convertible Loan Note due 2005;

         "Noteholder" means Goodison Park Limited whose office is at Sea Meadow
         House, Blackburne Highway, P.O. Box 116, Town Road, Tortola, British
         Virgin Islands, or the assignee in respect of the Note notified to the
         Company in accordance with these Conditions; and

         "Shares" means ordinary shares of 0.2 pence each in the capital of the
         Company or such other nominal amount following any consolidation,
         sub-division, repayment, reduction of capital or other event giving
         rise to an adjustment of the nominal amount of such ordinary shares
         hereafter.

IN WITNESS whereof this Note has been duly executed and delivered as a deed and
issued on April 4, 2003.

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SIGNED                                                     _____________________
as a DEED by World Gaming Plc                              Director
acting by Clare Roberts, a Director
and Nicholas Jackson, a Director                           _____________________
                                                           Director


SIGNED
as a DEED by

___________________________
Clare Roberts

in the presence of:

___________________________
[Signature of Witness]

Name
Address
Occupation


SIGNED
as a DEED by

___________________________
Nicholas Jackson

in the presence of:

___________________________
[Signature of Witness]

Name
Address
Occupation

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