KEY POINTS:
New online betting company Race-O New Zealand (www.raceonz.com) has revealed its racing hand with the launch of two guaranteed $1 million jackpots.
The first jackpot is to be available at Saturday's Matamata meeting, featuring the Robin, Duke of Bedford Matamata Breeders' Stakes, and then next Saturday at Ellerslie, which will feature the New Zealand Derby.
From their own PC, players can select from a range of game options. They can choose specific horses from the featured races, pick their own favourite numbers or simply request a Quick Pick lucky dip bet.
The single jackpot bet is $2. However, players can choose multiple selections on a single ticket. If more than one person chooses all the winning numbers, then the jackpot is shared. Consolation payouts are also paid for those picking six or seven winners.
David Allen, the chief executive of Race-O NZ, said the launch signified a new era in gaming and online interactive betting here.
He said it was envisaged "at this stage" that 50 per cent of the profits from would flow directly back into New Zealand racing, "a decision which will provide an unequivocal incentive for the industry to actively support the Race-O concept".
Race-O recently hit the headlines in the United Kingdom where the jackpot reached £1 million ($2.8 million).
The system's technology is capable of settling 20 million bets in less than 65 seconds.
Founders and investors of Race-O include Sir Patrick Hogan, the leading horse breeder in New Zealand, and champion trainer David O'Sullivan.
