Virtual Software’s Virtual Live Racing brand continued its expansion by adding Parx Casino, the largest casino and racetrack in Pennsylvania.
The company said the market for virtual racing products is booming as horse and greyhound racetracks – and racinos – look to “extend their digital brand to reach new audiences and develop new revenue streams.”
In addition to Parx, VLR products are live at Hawthorne in Chicago, plus Florida tracks Derby Lane, Tampa Bay Downs and Palm Beach Kennel Club.
VLR said it has also partnered with Ascot Racecourse in England (pictured), which will signal the company’s entry into the UK market when that product is launched.
The company said its virtual racing product is tote-betting enabled and ultra-realistic because it’s based on real life race data.
“Until VLR’s products were launched in 2020, no tote platform had a virtual live racing product on which to accept wagers in a market worth $100 billion per year,” the company said in a statement.
Joe Wilson, COO of Parx Racing, said, “Parx Racing is happy to be participating with Virtual Software Limited in this new and groundbreaking wagering product.”
VLR chairman Vincent Caldwell added, “Partnering with Parx is a major milestone for us, and the iGaming and racing industries, especially right now when there is so much disruption to real racing.”
According to Caldwell the 2021 goal for VLR is to put up 12 products that would enable the company to run 87,600 races a year.
“The goal after that is to get the wagering on each race to $3,500 per race,” Caldwell added. “If we succeed in that, more than $306 million will be handled in wagers on our products in a full year.”
