Advance deposit wagering supplier, AmWager, has confirmed that it will be the first US-licensed operators to launch a new cash out feature for punters, after brokering a new partnership with Colossus Bets.
Having agreed to a number of US racetrack partnerships, AmWager will offer an extensive range of ‘Advanced Deposit Wagering ADW’ provisions for US racing customers, including markets for UK and Irish racing pools.
Colossus Bets CEO Bernard Marantelli commented: “We are excited to welcome AmWager as the first North American operator to the Colossus network. US horseplayers will now be able to experience the benefits of the Colossus innovations that have been so popular in other markets.”
Customers on the AmWager platform will be able to access Cash Out offers for live British and Irish racing pools tickets after each race in Colossus multi-leg pools. Punters will have the option to ‘leave’ the ticket in the hope that the ticket wins, or they can sell all or a portion of their live ticket to lock in a guaranteed immediate payout.
Nelson Clemmens, AmWager CEO, added: “Our partnership with Colossus will give our players access to the most modernized pools and features available. I am especially pleased that AmWager will be the first ADW to enable players to take control of their multi-leg betting via the Cash Out feature on Colossus-hosted pools.”
In addition to securing its initial cash-out capabilities, the partnership will see Colossus Bets provide AmWager with its lotto-sized jackpots and crowdfunded Syndicates for North American racing.
The Colossus Bets’ British and Irish horse racing pools consist of a series of multi-leg Pick ‘n’ pools with consolations, Place Pick ‘n’ pools and correct order pools. Guarantees on these pools often exceed $100,000.