In year one of operation, initial revenue studies provided to Canadian company EquiLottery Corp. estimate its lottery and horse racing game EquiLottery to generate $100 million in ticket sales. Factor in the effect the game will have on increasing horseplayer interest and EquiLottery is projected to generate $101.5 million in handle to the racing industry.
The recent mandate by the Premier for integration between the lottery and the provincial horse racing industries makes Ontario an ideal location for the implementation of EquiLottery: The Greatest Two Dollars in Sports. A large population base including Toronto, North America’s third largest city, the distribution and exposure provided by over 8,000 lottery terminals will bring this sport to many who have yet to be exposed to its brilliance and excitement.
“Discovering the horse racing industry as a 30-something adult, I can relate to the steep learning curve it takes to understand this beautiful sport,” said Brad Cummings, who invented and patented the game and serves as President and CEO of EquiLottery LLC, parent company of EquiLottery Corp. “My initial goal was to increase the exposure of horse racing and develop new fans within a structure that makes lotteries profitable. EquiLottery certainly satisfies these criteria.”
Based on the game design, $50 million will transfer to the racetrack pools and influence payouts on exotic wagers at the track. This initial report, performed by world leading lottery auditing firm Gaming Laboratories International, also estimates $51.5 million in additional racetrack handle from horseplayers who are drawn to EquiLottery infused pools.
“As we’ve learned more about the Ontario market, it is clear there has yet to be an answer to the question ‘what does integration mean?’” said Cummings. “With estimated revenues of over $100 million annually in additional Ontario handle, our game looks to add over $25 million to the racing industry in takeout revenue and add an attractive new $100 million gaming option to the lottery. These numbers suggest EquiLottery can at least be part of that answer.”
EquiLottery has drawn international attention since its public unveiling earlier this month with official expressed interest from twenty states and provinces and four continents. A game that commingles lottery and horseplayer money to create dynamic payouts on live horse races, EquiLottery delivers a unique way to bring horse racing to the general public and offers an exciting new option to the lottery gaming menu.