- The 123racing product, which is based on a Pick 6 format, allows bettors to score points based on the placing of horses over six races, with the highest number of points winning, combines elements of real-money pari-mutuel pool betting with fantasy sports components for horseracing.
ALPHARETTA, Georgia, April 7, 2015 /PRNewswire/ -- 123gaming, the gaming technology developer, today confirmed that its 123racing commingled wagering pools product, which is the first interactive competitive social wager of its kind, delivered a solid start to the year in line with the company's strategic goals of growing and sustaining this new U.S. wagering industry initiative.
The 123racing pool wager was developed to stimulate interest and spend in mainstream traditional wagering products and broaden the appeal to new gambling demographics with a truly interstate availability across the USA. The wager which is integrated across an entire tote racetrack, Off Track Betting (OTB), online and mobile network, sees horse bettors across the US compete against one another via a national real-time interactive leaderboards, bringing a fantasy sports or world series of poker engagement style to the sport of horseracing.
The 123racing product, which is based on a Pick 6 format, with participants scoring points based on the placing of horses over six races, with the highest number of points winning, combines elements of pari-mutuel pool betting with fantasy sports components for horseracing.
123gaming founder and CEO Rob Earle said, "We have established a strong base following our soft launch at the end of 2014 and are pacing well for a year of growth throughout 2015. Horseracing is currently the only truly interstate legal wagering product in the USA and it needs to compete with other forms of entertainment that is encroaching for a share of the players' wallet. Our black box technology along with the 123racing wager is a complementary product to existing wagering formats, and has already demonstrated to be a good crossover product for fantasy sports and poker players that are not regular horse racing bettors, thus widening the player base for legal wagering products for our partners."
About the 123racing Wager
- The 123racing was introduced to the U.S. on the back of successful 123racing freeplay handicapping challenges such as Survival At The Shore (Monmouth Park), The Meadowlands Survival Challenge, and ThoroEnduro (Remington Park)
- The 3 highest scoring points totals across the 6 races share the net pool 1st (60%), 2nd (30%), 3rd (10%)
- A track can operate a 123racing pool across any number of legs: Pick4, Pick5 or a Pick10, not just Pick6
- Models Rules were approved by RCI Model Rules Committee (July 2014)
- 123racing CEO and IT professional, Rob Earle is also an ex-raceway director and lifelong racing industry participant.
About 123gaming, Inc.
123gaming is a US, New Zealand and UK based developer of innovative gaming technology and products designed to stimulate interest and spend in mainstream, traditional and core wagering products.
The content of this news release is a business communications and is not intended to promote the utilization of goods or services mentioned within where prohibited by law.
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SOURCE 123gaming, Inc.