A new opportunity for the Lottery industry and horse racing became public last week. EquiLottery a Kentucky based company has developed an innovative horse racing and lottery game.
Just last month I wrote with Lottery revenue continuing to decline I would assume the WV Lottery has a “think tank” to look for and assess new ideas and concepts. Well here is one.
EquiLottery connects the results of live horse races to the lottery experience, while providing a social element many lottery games currently lack. EquiLottery racetracks could become the focus of horseplayers around the world.
Studies were conducted by Gaming Laboratories International forecasts in the first year of implementation EquiLottery will perform around 3-4% of the lottery’s current annual revenue.
EquiLottery says the game would allow lottery players to participate in the same wagering pools as horseplayers, with the game promising to create dynamic payout for lottery and horseplayers while keeping in line with the legislative and financial realities of international lottery corporations.
Brad Cummings, EquiLottery President & CEO wants to increase exposure of horseracing and develop new fans but he made it clear that lotteries also need ample incentive to incorporate new games into their corporate strategies. He said this comes at a time when both racing and lottery industries are looking for ways to adapt to the evolving market place.
To assist lottery “think tankers” or my readers here is a website link for EquiLottery.
This leads me back to the need to generate new lottery revenue in West Virginia. Lottery revenue provides funds for various services. Without it a state tax increase may be required.
Let’s hope Lottery leaders and others take a look at this new idea.