Racing Stars Bets Big on Responsible Gambling
Having gained their UKGC license, been oversubscribed in their Seed Funding round – Racing Stars has launched its MVP fantasy racing product to coincide with this week’s Royal Ascot festival.
Their guiding principle has always been Responsible Gambling and the product only allows people to place one bet a day, and with a low limit. Racing Stars was founded by Nathan Thompson, Danny Williams and Steven Evans.
Racing Stars has been described by its founders as “the first fantasy league horse betting platform based on real races and real prizes,” and uses a unique point scoring system that converts starting odds to points – so the higher the odds on your horse, the more points it will earn you. This means that players are always in the running, with just one win enabling a rank outsider to take the top sport.
Racing Stars only allows users to place one bet per day, subject to a low limit – putting entertainment firmly ahead of large stakes, in a move that could send significant ripples through the industry.
Its founders say that, because the system has a set spend, everyone is playing to their means, all punters are level, and it is “impossible to spend more on it than you can afford.” Also, because a bet lasts for a whole day of racing, and players retain a chance of winning until the last race finishes, there is no need for anyone to chase losses.
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Author: Niji Narayan