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[February 21, 2007]
RACE-O MAKES ITS NZ LAUNCH
(New Zealand Press Association Via Thomson Dialog NewsEdge) Wellington, Feb 21 NZPA - An internet betting company is offering a $1 million prize pool for those who select the winners of eight races at Matamata on Saturday.
The company is Race-O New Zealand which is backed by top breeder Sir Patrick Hogan, former top trainer Dave O'Sullivan and Berri Schroder, a part-owner of Melbourne Cup winner Brew.
An attempt was made to launch Race-O about a decade ago but was rejected by New Zealand racing officials because it was basically little more than an extension of pick6 betting (selecting the winners of six races).
Race-O has nothing to do with the New Zealand TAB. Those wishing to attempt selecting the eight winners at Matamata will need to go to its website www.raceonz.com.
It will cost $2 for each combination of selections and Race-O said ``it is envisaged, at this stage, that 50 percent of profits from Race-O New Zealand'' would be returned to New Zealand racing.
Race-O said it would offer a similar $1 million prize pool at the Auckland Racing Club's meeting at Ellerslie the following Saturday.
Race-O is registered in Costa Rica in central America and its betting licence has been secured from the autonomous Indian territory of Kahnawake in Canada.
NZPA WGT pg kk
Copyright 2007 New Zealand Press Association. Source: Financial Times Information Limited.
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