The North Dakota Racing Commission announce the state has passed administrative regulation to enable the horse racing wager pool – 123racing to be hosted by a licensed operator in North Dakota. The 123racing wager technology, developed as a pari-mutuel wager offering by 123gaming in conjunction with the largest tote and interactive services provider in the United States, Sportech Racing, LLC (“Sportech”), introduces an innovative wager similar to the traditional Pick-6 but with a competitive element.
The technology was designed to provide interactive new content for handicappers, and stimulate handle for operators, and enables 123racing wagers to be placed at participating racetracks and OTBs, as well as online. ADWs may integrate the wager, and 123gaming will soon showcase the pools using a license, technology and services provided by eBet Technologies, Inc. (“eBet”), an affiliate of Sportech, at a tailor-made website 123bet.com.
Unlike standard pari-mutuel pools, 123racing pools are hosted centrally by 123gaming who pass on the equivalent of the host fee collected from guest wagering venues to the racetrack supplying racing content for the pool. This allows for ease of simulcast contracting for racetracks to participate by simply contracting with established operator eBet Technologies, Inc.
Also approved for hosting in Pennsylvania, the 123racing wager pools can now be hosted to cover racing at any U.S. or international racetrack that would like to add the wager content for little to no cost.
Commenting on the 123racing wagering pool, Gunner LaCour, Director of the North Dakota Racing Commission said:
“We are delighted to be working with 123gaming in readily changing the U.S. horse racing market by offering the 123racing wager through North Dakota. North Dakota provides highly regulated licensure for multi-jurisdiction online ADW (Advance Deposit Wagering) companies, and we are supportive of Sportech and 123gaming bringing product innovation to the horse racing industry both nationally and internationally. It is our hope that 123gaming’s contest wager type will further support live horseracing as an entertainment destination and social experience.”
Robert Earle, 123gaming Inc. CEO said: “The North Dakota Racing Commission has been very supportive, and we are excited to be able to showcase the 123racing wager online and grow the pools for those participating racetracks. We are looking forward to increasing participation and reaching new fans.”