AmWest Entertainment LLC (trading as AmWager), one of the most progressive US Advance Deposit Wagering (ADW) providers, has become the first US-licensed operator to offer a Cash Out feature for their players, beginning with British and Irish horse racing pools through a partnership with Colossus Bets.
This partnership will bring the Colossus formula of lotto-sized jackpots with leg-by-leg Cash Out and crowdfunded Syndicates to North American horseplayers.
Horseplayers on the AmWager platform will receive Cash Out offers for their live British and Irish racing pools tickets after each race in Colossus multi-leg pools. Players can decide to do nothing and hope that the ticket goes on to win, or sell all or a portion of their live ticket to lock in a guaranteed immediate payout. These early payouts often occur on tickets that go on to lose and in some cases, can amount to big money.
Cash Out has become a ‘must have’ feature in multi-leg sports betting and has been a runaway success for sportsbooks in Europe and elsewhere in recent years.
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.
Nelson Clemmens, AmWager CEO said: “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.”
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.”
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