|Entertainment and e-commerce business development firm Sungold International Holdings Corporation has announced a three-year agreement with a tribe of Native Americans to launch an online horseracing site.|
Listed in Frankfurt and Toronto, Sungold said that its agreement with the Turtle Mountain Band of Chippewas of Belcourt, North Dakota, would see it market and launch in partnership the Horsepower 8 World Pool Lottery online.
The Horsepower 8 World Pool Lottery challenges players to select the first place finisher in eight live horse races from participating racetracks running each weekend. Additional prizes will also be paid out each day for those that guess correctly in seven, six and five races.
Both horseracing and lotteries benefit from exemptions to American restrictions on Internet gambling and, Sungold said, if there were no winner in a pool, then it would carry over to the next race date. As a result, the company said that carry-over pools are expected to build to life-changing payouts on a regular basis.
'The Horsepower 8 World Pool Lottery combines the excitement of live horse racing with a lottery platform hosted on the Internet for easy access,” said Keith Blackwell, Chief Executive Officer for Sungold.
“The market for Horsepower 8 consists of the millions of lottery players worldwide as well as avid horseplayers. The Lottery's anticipated carryovers will offer players dreams of exceptional prizes.'
Blackwell said that the eight live races would initially be available online with Sungold currently in negotiations to make them available on simulcast networks and satellite television as well.