As part of the agenda for its first meeting since last month’s reorganization of the Kentucky Horse Racing Commission, EquiLottery Founder and CEO Brad Cummings presented the backstory and game concept for EquiLottery, a lottery game based on the results of live horse racing, along with Kentucky research and new game elements. This innovative lottery and racing game would deliver instant exposure and new revenue to Kentucky horse racing on a daily basis.
“The Commonwealth of Kentucky and its signature horse industry have given me much more than I can ever pay back,” said Cummings. “Having the opportunity to present to the Kentucky Horse Racing Commission our vision for EquiLottery, which opens up millions of new people to a sport so important to my adopted home state, is a thrilling and humbling experience.”
During his presentation, Cummings discussed the evolution of EquiLottery. From its humble beginnings as an idea hatched in his home office in 2009 to the recent signing of an agreement with IGT Global Solutions, the unquestioned leader in lottery draw systems, he walked commission members through a narrative that he described as “a long and rewarding entrepreneurial endeavor.”
“We have seen Brad work tirelessly for his vision and clear some seemingly insurmountable hurdles. We are proud to stand with him in this effort,” said Kentucky HBPA Executive Director Marty Maline. “The Kentucky HBPA is excited about the opportunity for horse racing to be instantly distributed to the masses in Kentucky and across the country in a way it has never been before. We hope that our state will lead the way on this historic innovation.”
Kentucky studies revealed in September of 2015 show the immense potential for EquiLottery as a vehicle for both horse racing and the lottery. Conducted by global market research leader Ipsos Reid, these studies show that EquiLottery appeals to core and lapsed lottery players, brings new players to the lottery and attracts millennials with appeal and spend scores matching the rest of the population. Underlying numbers suggest that this generation, which has not previously shown interest in either lottery or horse racing, was chiefly drawn to the mobile integration of EquiLottery.
For the first time, the public was also introduced to a new flow of funds established over the course of multiple development meetings earlier this year. The principle change involves the top tier prize pool which will be a separate pool maintained by the lottery containing only lottery money. Racetracks will be paid a licensing fee for the use of their product from the proceeds of each ticket.
“As we continued to find a workable version of our game that took into account the needs of state lotteries as they currently operate, it became evident a tweak to our original model was necessary to make EquiLottery a reality now,” said Cummings. “Our primary goals have been and will always be to introduce millions of new people to the excitement of live horse racing while creating an expansion of the lottery player base and returning new profits to the good causes state lotteries exist to support. After 6 ½ years and millions of dollars in investment, we are on the brink of accomplishing these goals.”
The pursuit of EquiLottery, heralded as The Next Generation of Lottery Draw Games, has been conducted publicly since the summer of 2014. Upon agreement to implement EquiLottery, the Kentucky-based company will allow participating lotteries and racetracks to leverage the EquiLottery race-watching mobile app and website, integrate software with no out-of-pocket expenses and secure all necessary game licensing and race data. Additionally, EquiLottery will supply consulting services including setting year round calendars of pre-qualified races, negotiating rates with racetracks and horsemen for licensing the racing product that is the basis for this game and providing best practices for game implementation.
Bradford (Brad) Cummings