ATLANTA, Nov. 21, 2014 /PRNewswire/ -- 123gaming, Inc. and Sportech Racing and Digital, a division of Sportech PLC, (LSE: SPO), announced today that the handicapping contest-style 123racing wager, previously available only through racetracks and off-track-betting operators in the U.S., is now available for online distribution.
On-trend with the growth in fantasy sports and horse racing handicapping contests, the 123racing wager is based on a Pick 6 format, but introduces additional elements of excitement and interactivity over traditional Pick 6 wagering. Payoffs on the 123racing wager are won by scoring points across the 6 races, with the wager that scores the highest total points claiming the pool. In 123racing, top scorers don't necessarily have to pick the winners or 'hit the board' in every race.
Rob Earle, founder and CEO of the company that created 123racing, 123gaming, Inc., noted, "We have been operating a very successful version of 123racing as a free play handicapping contest for several racetracks for many years, and we eventually transitioned that to a live money wager available only on track. After several successful trials, and with 82% of survey respondents saying that they were likely or very likely to play the wager again, we knew it was time to expand online. 123racing is the first interactive social wager of its kind to be integrated across an entire tote racetrack, OTB and online network, pitting handicappers across the U.S. against one another on national leaderboards."
Twenty five North American racetracks are already signed up to provide content for the 123racing wagering pools, including Parx Racing, Emerald Downs and Keeneland.
123bet.com will be the first online home to showcase the wager, and numerous major racetrack and OTB operators are also in the process of making the wager available online, recognizing the potential for 123racing to appeal to younger fans, and fantasy sports fans.
Andrew Gaughan, President of Sportech Racing and Digital, commented, "The 123racing wager offers a great complimentary product to the classic Pick 6 and we expect it to help attract some of the 40 million Americans who are playing fantasy sports, but not wagering on horse racing. Because the 123racing wager is available on our Quantum System, which is deployed throughout North America as well as in Latin America and Europe, ultimately we see an opportunity for global commingled 123racing pools."
Sportech Racing and Digital:
About the 123racing Wager
- The wager follows the success of 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
- Models Rules approved by RCI Model Rules Committee (July 2014)
- 123racing CEO, Rob Earle, designed 123racing as an industry initiative having been responsible for marketing as an ex-raceway director and lifelong horseman.
About 123gaming, Inc.
123gaming is a US and UK based developer of innovative gaming technology and products designed to stimulate interest and spend in mainstream, traditional and core wagering products.
About Sportech Racing and Digital
Sportech Racing and Digital, a division of Sportech PLC, is a leading global provider of wagering technology solutions to licensed racetracks, off-track betting networks, Internet wagering operators and casinos. In addition to the software, hardware and services that facilitate land-based pari-mutuel wagering, the division provides customized Internet, phone and mobile technologies and services as one of the largest digital wagering technology providers and operators in the U.S. Through its Bump 50:50 division, Sportech Racing and Digital now provides technologies and services to allow charitable foundations affiliated with professional sports teams to design, manage, execute, and promote 50/50 raffle programs. For more information about Sportech Racing and Digital, please visit www.sportech.net.
SOURCE Sportech Racing and Digital