For Casinos & Advance Deposit Wagering (ADW) Operators
Get Out AHEAD offers casinos and ADW’s a white label software solution, called Hedging Xchange, that allows their customers to resell all or a portion of their bets to others.
Traditionally, you have an “all or nothing” bet and the odds of the wager are set. If your 5 game parlay goes down in game 3 or 4, the end result is the same. Just like when your pick 4 horse race goes down in the last leg and there aren’t any consolation payoffs. It’s a loss and a loss of your investment/money.
Want to reduce your risk, guarantee yourself a profit, or get some liquidity out of your parlay? Place the wager on the ADW or Race and Sports Book virtual Hedging Exchange and set a price.
The virtual marketplace enables the account holder to render payment for the purchased ticket via funds in the buyers’ account. Once the bid is accepted, the money is immediately transferred from the buyer’s account to the seller’s account. Think of an eBay for gambling!
- The original ticket has already been purchased. There is no additional risk to the casino.
- Increased player activity.
- The hedging exchange is a differentiator that can be used as a marketing tool to generate new customers.
- The marketing opportunities are endless.
- Provides immediate cash to selling customer that gives them the ability to put that money back in action. We know gamblers love this opportunity to reinvest.
- Allowing the client to monetize the same ticket multiple times (initial bet plus each transaction fees) without incurring any additional liability to the casino.
- Can be used across multiple gambling verticals: Sports Betting (Parlays, Teasers, and Futures), Horse Racing and Daily Fantasy Sites.
- The quick turnaround between horse races fits well with the movement from on-track wagering to off track wagering (ADW’s) via the internet.
- More and more horse players are moving their wagers from on track to ADW platforms for convenience reasons and wagering rebates.
- Transaction fees are customizable.
- If laws allow, the operator (house) can buyback a portion of the liability. This is especially appealing on large Futures tickets originally purchased at large odds.
- Get Out Ahead and the casino will monitor questionable activity/AML guidelines, thus limiting any concern of money laundering.
- Software will monitor all tax reporting.
- Starting the change of the Race and Sports book industry to move away from the printed tickets and to customers as account holders with immediate access to the casino sports hedging exchange.
- The target market is anyone with an smart phone, tablet, and/or computer.
For the Fantasy Sports Community
What started out as our attempt to change the gaming world immediately reverberated into the Sports Fantasy realm. While these are two distinct entities with independent legal boundaries, they share a number of commonalities. The Get Out AHEAD staff found that while building for the gaming industry, our product had even more application to the sports fantasy industry – and with less regulation!
Our product, Fantasy Sports Hedging Xchange, as it applies to the fantasy sports community, offers the same buy/sell experience (i.e. the account holder who has purchased/selected an entry into a fantasy tournament has the ability to sell all or a percent of his/her entry while the entry is ‘live’). Account holders within a specific sports fantasy application, have the option of bidding on and purchasing a designated piece of a live sports fantasy entry, should it be offered up for bidding. The seller gets some degree of liquidity and the buyer gets more action, which in turn creates more player involvement, larger player accounts and more revenue. The sports fantasy site gets a commission on each sale.