Bwin, the largest online gaming company in the world, have launched a new live betting app for the iPhone.  The app called Bwin live for iPhone is one of the first real money gambling apps to be approved by Apple.  The new app can now be downloaded for free from the iTunes App Store.

With the Bwin iPhone Betting app you can now place bets on a wide range of sporting events, including: Soccer, Boxing, Formula 1, American Football, Hockey, Horse Racing, Baseball, Tennis, Ice Skiing and more.

The Bwin betting app allows users review their betting history track the status of current and check your account balance from your iPhone.

The new Bwin iPhone live betting app is currently only available to Bwin customers in the United Kingdom (England, Scotland, Wales, Northern Ireland) and Austria.  Bwin have indicated that their new sports betting app will be made available in other countries in 2011.

If you are not based in either the UK or Austria, you can still place bets from your iPhone using the Bwin web app.

Bwin is only the third real money betting app to gain approval from Apple.  Both Betfair and PaddyPower made history earlier this year by getting their betting apps into the iPhone App Store.