Symposium: Innovators Offer Variety of Ideas

Frank Angst / Blood-Horse

The four finalists to present their ideas during the first Innovators’ Circle—which offers a $15,000 prize—offered ideas in technology to prevent breakdowns, a multi-race wager that can play like an exchange, a game with a huge jackpot, and micro-ownership of Thoroughbreds.

The Innovators’ Circle for the first time is part of the University of Arizona Race Track Industry Program Global Symposium on Racing and Gaming. The four finalists presented their ideas to judges and an audience Dec. 9 at the symposium in Tucson.

The judges awarded SwopStakes, a pari-mutuel game that incorporates exchange wagering, the top award of $15,000. The audience voted on a separate $1,000 award that went to use of an equine 3D CT Scanner to gather information toward using it in pre-race exams.

Shaun Pyrah of a social gaming company in Australia, Six Faces, outlined SwopStakes, a multi-race wager idea that would play as a pari-mutuel bet but offers aspects of exchange wagering. Bettors in the wager would initially buy a number of tickets in the game with SwopStakes generating all possible tickets. As outlined, the game would have a 30% takeout rate.

Once all of those tickets were generated, players in the game could buy the tickets owned by other players at a value agreed upon by buyer and seller. This would allow players to sell their live tickets to other players in the game for a small profit. Or players could hold their tickets, or purchase additional tickets to continue into the next race of the game in hopes of advancing toward the jackpot.

Pyrah said in testing the game has attracted chance bettors, pro gamblers, and sports bettors.

Sheila Lyons of the American College of Veterinary Sports Medicine called for an extensive study at three Thoroughbred racetracks by which every horse would be scanned with an equine standing 3D CT scanner. She estimated the cost of such an effort would be $1.7 million.

Information from the scans, which is produced in detailed 3D visuals, would be used to provide information on microfractures that have been linked to catastrophic breakdowns.

“Microfractures are a ticking time bomb,” Lyons said, noting that regulatory vets may only get 10 minutes to evaluate a horse in a current pre-race exam. She said the scanners would provide an invaluable tool in improving those exams. “The time has come to turn our collective wishes for making this sport as safe as it can be into a reality.”

Lyons said she could envision a day where every regulatory vet uses the scanners, which cost $300,0000 each, in their pre-race exams. Lyons said compared with X-rays, the 3D CT scanners provide far more information on the microfractures that are such a concern in racing.

Jonathan and Leslie Lutton presented their Thoroughbred Stock Exchange which allows Thoroughbred ownership at the micro level. Single shares sell in the $60 range. Once owners are involved, they can sell their shares to other owners or buy additional shares in horses. Jonathan Lutton said they’ll have 20% of each horse and they’re vested at same rate as everyone else.

Jonathan Lutton said a similar effort by The Stronach Group was hurt by high fees from its participation in an actual stock exchange. He said Thoroughbred Stock Exchange won’t face such fees.

Leslie Lutton said a big part of Thoroughbred Stock Exchange will be educating participants and growing interest in full ownership. She said they’ll stay in touch through technology like push notifications but even a phone call if that’s what the participating owner prefers.

Jonathan Lutton said the price paid to claim the horse will be transparent, and they will hold 20% in each horse at the same valuation paid by the other investors.

Thoroughbred owner Joel Benson used his marketing background to develop the fantasy racing app “20 Wins a Million,” which offers an ultimate prize of $1 million for a player who can select 20 winning horses in a row. While nearly impossible to win, the game is free to enter and offers smaller prizes that would be put up by participating tracks and advance deposit wagering companies for players who put together modest win streaks.

Benson noted the game is similar to a free game offered by Major League Baseball, Beat the Streak, that challenges players to beat Joe DiMaggio’s 56-game hitting streak, picking two players a day. That jackpot has never been payed out, but Benson noted millions play the game.

Benson said the game would be marketed to new players as opposed to existing players. Participating players would pick races selected for them at their area tracks. Benson said the app will be ready to launch in March 2016.