Tote Ireland partners with Colossus Bets to offer partial cash-out

(PRESS RELEASE) -- Tote Ireland, a wholly-owned subsidiary of Horse Racing Ireland and the operator of pool betting on Irish horse racing, has announced the launch of the world's biggest sporting jackpot pools powered by Colossus Bets across its Web and mobile platforms.

The agreement includes a potential future rollout of Colossus Bets' patented partial cash-out technology across the entire Tote Ireland platform.

"We have grown volumes into our core horse racing pools by offering minimum guaranteed pool prizes and demonstrated that players want to shoot for life-changing jackpots," said Tote Ireland CEO Tim Higgins. "The Colossus sports pools certainly fulfill that demand and we are very pleased to make these products available to our existing and new players.

"We have also agreed to investigate incorporating Colossus Bets' patented partial cash-out technology within all Tote Ireland multi-leg pools. This would make our horse racing pools even more engaging and would make us the world's first Tote to go live with that technology."

"Pioneered by Colossus Bets and replicated by bet365, Paddy Power and growing raft of others, partial cash-out is revolutionizing sports betting," said Bernard Marantelli, founder and CEO of Colossus Bets. "Tote betting operators need to respond or they risk losing product relevance and market share to other forms of wagering. Tote Ireland has recognized this and we are delighted to welcome them to the rapidly growing Colossus family to distribute our pools. We also look forward to seeing our cash-out technology applied to their horse racing pools as a world first."