Sportech Racing and Digital, a subsidiary of UK-listed gaming operator Sportech, has signed a deal with gaming technology developer 123gaming that will see the 123racing wagering product launched online for the first time.
Previously only available for racetracks and off-track betting operators in the US, the 123racing product is based on a Pick 6 format, with players scoring points based on the placing of horses over six races, with the highest number of points winning. It combines elements of pool betting with fantasy sports.
The product has already been launched by a number of operators including Parx Racing, Emerald Downs and Keeneland. It will launch online first with 123bet.com, with a number of other racetracks and off-track betting operators set to launch in the coming weeks.
“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,” 123gaming founder and CEO Rob Earle said. “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 US against one another on national leaderboards,” he added.
Sportech Racing and Digital president Andrew Gaughan said the 123racing product was complimentary to classic Pick 6 games and would be a good crossover product for fantasy sports players that are not regular horse racing bettors.
“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,” he added.