betinternet founder launches new virtual racing product for the US1st June 2020 7:42 am GMT
Isle of Man-based software developer Virtual Software has launched a new virtual racing product for the US market.
Established by betinternet founder Vincent Caldwell, Virtual Live Racing (VLR) is available to all tote systems in the United States through Amtote International’s Spectrum betting system.
With virtual races based on anonymised and encrypted data from real-life thoroughbred, harness and greyhound races, VLR features fully rendered replicas of real tracks including Derby Lane and Tampa Bay Downs in Florida, while five other tracks have signed up for the service, including Hawthorne in Chicago and Parx in Philadelphia.
“While virtual racing products operate in over 40 countries and are very much a mainstream wagering product with billions of dollars bet on them each year, we have identified a niche opportunity for a unique product,” said Caldwell. “We’ve developed a real-time rendering engine deployed to deliver horse, harness and greyhound racing with high quality graphics and animations.
“Unlike other products, our technology ensures that a racetrack’s intellectual property in the form of historic race data is anonymised and encrypted so outcomes cannot be known prior to the race being run. We believe that Virtual Live Racing products, which are built on a pari-mutuel wagering model, have a massive potential because it allows market access into an existing $11bn USA pari-mutuel wagering market, and other access points into international regulated racing markets valued at $100bn.”