During a time where both the horse racing and lottery industries are looking for ways to adapt to evolving marketplaces, a company has recently announced a product which looks to merge both wagering products via a horse racing lottery game.
EquiLottery LLC recently announced the introduction of its new innovative horse racing and lottery game, EquiLottery aims to combine the excitement of live horse racing with lottery terminals across the world.
A release by the company states that EquiLottery will allow lottery players to participate in the same wagering pools as horseplayers. The game has the ability to create dynamic payouts for lottery and horseplayers while keeping in line with the legislative and financial realities of international lottery corporations.
"Discovering the horse racing industry as a 30-something adult, I can relate to the steep learning curve it takes to understand this beautiful sport," Brad Cummings, who invented and patented the game and serves as president and CEO of EquiLottery LLC, said via release. "My initial goal was to increase the exposure of horse racing and develop new fans. EquiLottery certainly satisfies these criteria."
EquiLottery simplifies the process of participating in racetrack pari-mutuel pools by narrowing the experience to one race and one pool each day. Players will be invited to purchase a $2 quick pick ticket from their local lottery retailer for an exotic wagering pool connected to a pre-selected live race or series of races. These pools can be any multi-number opportunity offered at the racetrack, including, but not limited to, Trifectas, Superfectas, Super Hi-5s, and Pick 6s.
EquiLottery's objective is to help racetracks realize a significant boost in handle, as the first dollar from the wager will go directly into the racetrack’s pari-mutuel pool. The setup aims to increase racetrack profits through enhanced takeout revenues and to engage a new audience with the racing product. Additionally, EquiLottery's influence is designed to allow horseplayers an opportunity to find wagering value by raising payouts on combinations across the board, bringing an international focus to races integrated with the EquiLottery system.
According to the release, revenue studies from the leading lottery firm Gaming Laboratories International project significant revenue increases for races involved with EquiLottery, including a $97-million handle impact on the Kentucky Derby if played through EquiLottery across 10 racing states, a nearly 80 per cent increase on 2014 handle numbers.
Cummings points out that it is not enough for the patented gaming product to improve the future of horse racing, explaining that lotteries also need ample incentive to incorporate new games into their corporate strategies. EquiLottery is geared to give lotteries the flexibility to match their expected profits and cover anticipated expenses, including marketing fees and vendor royalties.
"It's important when we develop solutions to improve the racing product that we also understand the needs of our potential partners," said Cummings. "EquiLottery is designed so that lotteries can implement this game without any fear of profit cannibalization."
Horsepeople, racetrack executives, lottery professionals and the general public are invited to visit www.EquiLottery.com or www.EquiLottery.ca to learn more about the new game, including specific game structure, additional revenue projections and polling results. Visitors will also be able to learn how to bring EquiLottery to their state or province, and share their support through multiple social media platforms with a "Get Involved" contact form.
(With files from EquiLottery LLC)
Finally!
Finally!