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123racing.com launch Virtual Sweepstake


WEBWIRE –

For Immediate release

April 15, 2006

New Zealand based firm Interactive Gaming Systems Limited have launched an online virtual sweepstake game where registered users have the chance to win prizes to the value of $1000 each week picking horses at Addington Raceway. Entry to the competition is free.

By logging on to www.123racing.com, users get the opportunity to pick a horse in each race and the first prize of $600 goes to the person who returns the most points for their virtual picks. Points are accumulated with 3 points for 1st, 2 points for 2nd and 1 point for 3rd. Bonus points are added based on the official tote payout of a $1 each way bet. The new competition replaces the popular VirtualMetBet.co.nz website.

The brainchild of Met board member and computer software developer, Robert Earle, chief executive of Interactive Gaming Systems Ltd, 123racing.com is ideally suited to those who have an interest in racing but don’t want to spend a lot of money.

“It is totally free to enter and will become an integral part of the promotion of the sport at Addington raceway. It’s all about playing for fun and winning real money,” he said.

“We would like to introduce it at different racecourses around New Zealand as well as overseas.” Says Earle.

“If legislation allowed for it, we could charge $10 entry and first prize would be 60% of the pool. It could be huge for the industry and help promote New Zealand racing overseas”.

“Clubs are not allowed to do that in New Zealand at present, but there is no reason why the TAB or Lotteries could not run it using our software and give a percentage return back to the tracks,” he said.

Interactive Gaming Systems are pioneers in the gaming software area, especially for betting exchanges with a recent launch of www.fubet.com.

These exchanges act as online intermediaries between individual bettors, allowing them to bet against each other. Market leader BetFair has an estimated customer base of 200,000 with annual turnover (volume of matched bets) of about GBP2bn. (Source bbc.co.uk)

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