News and Announcements
Innovative horse racing app Form2win launch in USA markets
- Published November 27, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Fantasy Gaming Corporation is poised to launch its horse racing app Form2win in the USA with AmWager which is licensed to take bets from 40 States.
In mid-2020 FGC and AmWager plan to launch the first USA-wide Horse Racing Fantasy League – the USA has 50 million registered fantasy tournament players.
FGC will receive a share of App bet revenue and App subscription fees.
Fantasy Gaming Corporation – Form2win Investment Highlights
Problem
Australia has the most competitive and media saturated horse racing industry in the world – subscription based form services are uncommon with providers relying on advertising revenue models.
Conversely, subscription models in the USA, UK, and Japan are commonplace, making them more prospective markets for horse racing form subscription products. Hence, FGC’s focus on these markets starting with the USA.
Opportunity
The global betting markets are serviced by racing form providers with products that are generally Legacy “Paper Print” and Spreadsheet Formats and have not fully exploited advances in computational; visualization; and communications technologies. FGC is exploiting this technology opportunity with its Form2win App.
Competitive Advantage
Fantasy Gaming Corporation has signed partner agreements with AmWager (USA), Equibase (USA); PA (UK) and Grand Perfecta Inc (JAP) to launch Form2win in the USA, UK and Japan which are in the top 5 markets comprising global Betting turnover of Euro 100 billion in 2015.
Acknowledged best-in-world products – Validated by Marketing and Bet Revenue Share Partnerships with USA and Japan Horse Racing Industry Groups.
Target
Targeting an estimated 8 Million Online Horse Racing Punters in the USA;10 Million in the UK/EU;8 Million in Japan; and 5 Million in Australia/New Zealand, who currently use expensive and dated Apps and Software that underperform Form2win.
Revenue Model
FGC has key Bet Revenue-Share Agreements in place with AmWager in the USA. Revenue comprises a share of App Bet Revenue; App Subscription Fees; and Advertising.
Milestones
The Form2win App has been trialed by 400 Beta Test Users who have proven the effectiveness and robustness of the App and its readiness for the USA market.
Performance
AmWager CEO said: “The low cost compared to other data products that are frankly dinosaurs when matched up against Form2Win will be a key driver for both customer base growth and the ongoing retention rate.”
Based on AmWager’s CEO projection of 100,000 subscribers by the end of year 1 the revenue run rate would be circa A$48 million with EBITDA of A$18 million.
Strategic Partnerships
Key Marketing and Revenue-Share Agreements with AmWager (USA), Equibase (USA); PA (UK) and Grand Perfecta Inc (JAP) to launch Form2win in the USA, UK and Japan.
Exit Strategy
Following the planned roll-out of Form2win in the USA starting in December 2019 FGC is planning to list on the ASX in the June Quarter 2020, which funds will be used to launch in the UK and Japan markets.
About Fantasy Gaming Corporation
FGC is seeking to raise $300,000 to $500,000, investors can do so via either Ordinary Shares or Convertible Notes on the following terms:
Fully Paid Ordinary Shares at a valuation of $5M i.e. A$0.21 per share or,
Convertible notes – 2 year term; 10% p.a. coupon payable 6 monthly; and conversion to shares at a discount of 40% to an IPO or other exit event.
Fantasy Gaming Corp (FGC) owns the horse racing form App “Form2win” which, enables Users to manipulate past performance racing data based on criteria set by the User. Beta test Users have consistently produced profitable race betting results on a monthly basis.
The App will be launched in the USA in December 2019, with Amwager, a USA-Registered Advance Deposit Wagering Operator (ADW) – USA version of Australian TAB’s. Importantly, Amwager is licensed to take bets from 40 States.
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