Imagine a horse race with 14 runners. You can can place a Single bet on any one horse coming in first place, or a Revolver combination bet which pays out on the first 6 horses in any order and the first 6 horses in correct order. The odds of winning are 14:1 for the Single bet. The Revolver combination bet raises and retains the player's excitement to a new level by giving them a chance at a winning pari - mutuel payout from one of two pools, 3003:1 for the Boxed Six in any order and larger progressive pool odds of 2162160:1 for the Big Six in correct order gives the player a life changing multi-million dollar payout. All bets go into the same pools, a pool for Singles, a pool for the Boxed Six and a pool for the Big Six. The House takes a percentage of each pool to cover operating costs, partner revenue etc. and the remainder is divided up amongst the bettors that have placed winning bets according to the value of their bet.
As this is a "Virtual Event" the horses are actually numbers in a random number generator (RNG). The numbers can also be represented by cards, cars or camels; in fact they could be represented by any visual event where 6 can be picked from 14 in a specific order. Each betting demographic could be looking at the visuals that most appeal to them, whether that was cards, horses, cars or a next generation virtual themed event. The real time virtual event is far more appealing to the player due to the progressive payout action and equal chance randomness of the outcome, rather than an actual fixed odds race, game or past historical event result.
The Tote network exists to allow the global comingling of bets on horse races. The tracks send details of horse racing events, races and results to Tote hubs which are interlinked globally via the Inter Tote System Protocol (ITSP) network. Legal impediments and broadcasting agreements not withstanding, this allows a person at a racetrack on one side of the world to bet on a race on the other side of the world. Exactly the same network of Tote systems can be used to bet on events with similar characteristics to horse races, start times, number of runners, bet types etc.
As these are "Virtual Events" they can occur at a frequency determined by the administrative software of the game, rather than physical constraints. After years of extensive research, consultation and integration testing with tote hubs and other channels of connectivity, VGN™ has settled on 90 seconds as the ideal "Virtual Event" cycle frequency.
Bets of multiple values and multiple currencies ($ € £ ¥) can be comingled. Example, two bettors each place a bet on the same horse in a race. Bettor A places a $2 bet and bettor B places a $1 bet. Their horse wins and they are the only people to have selected that horse. The total win pool is $100, the House takes $25. A total of $3 has been bet to win a pool of $75. 75/3=$25. Bettor A receives $50 for the $2 stake (2x$25), Bettor B receives $25 for the $1 stake (1x$25). The same principle applies to comingling currencies. A $100 bet on a virtual horseracing game on a smart TV in a casino resort hotel room can be placed in the same pool as €1 online or mobile virtual card game bet.
Bringing it all together:
Imagine every player in a state, province, nation or internationally, that wants to place a small bet, a bet that could change their lives, being able to place that bet on their personal computer, mobile phone, Smart TV, at a horseracing track, casino, or any other licensed betting facility. Players then watching in real time the game they like, cards, horses, cars etc. all playing into the same pools and the "Virtual Event" cycle happening every 90 seconds 24/7 365 days a year.
The future mass appeal of VGN™ is that it will offer a social, less intimidating product to the player(s) while still having the excitement of a rapid fire live event.
The potential is astronomical!