SBC News Voice of the Sports Betting Industry
Colossus Bets, a supplier of next-generation pool betting markets, has announced a further major US coup, after confirming that simulcast racing services provider AmWest Entertainment (AmWager) will become the first US-licensed racing incumbent to offer cash-out capabilities.
Maintaining multiple US racetrack partnerships, AmWest offers an extensive range of ‘Advanced Deposit Wagering ADW’ provisions for US racing customers.
Beginning with UK and Irish racing pools, AmWest is to introduce ADW tailored ‘leg-by-leg’ cash-out functionalities, powered by Colossus Bets systems.
Customers on the AmWager platform will receive Cash Out offers for their live British and Irish racing pools tickets after each race in Colossus multi-leg pools. Players can decide to do nothing and hope that the ticket goes on to win, or sell all or a portion of their live ticket to lock in a guaranteed immediate payout.
Nelson Clemmens, AmWager CEO, said: “Our partnership with Colossus will give our players access to the most modernized pools and features available. I am especially pleased that AmWager will be the first ADW to enable players to take control of their multi-leg betting via the Cash Out feature on Colossus-hosted pools.”
In addition to securing its initial cash-out capabilities, the partnership will see Colossus Bets provide AmWager with its lotto-sized jackpots and crowdfunded Syndicates for North American racing.
The Colossus Bets’ British and Irish horse racing pools consist of a series of multi-leg Pick ‘n’ pools with consolations, Place Pick ‘n’ pools and correct order pools. Guarantees on these pools often exceed $100,000.
The AmWager partnership sees Colossus Bets further advance its US position, bringing new innovations to the North American racing scene.
Entering 2019, Colossus Bets won the contract to revamp entirely the racing totalizator network granted by the Oregon Racing Commission (ORC).
Colossus Bets’ CEO Bernard Marantelli added: “We are excited to welcome AmWager as the first North American operator to the Colossus network. US horseplayers will now be able to experience the benefits of the Colossus innovations that have been so popular in other markets.”
