Tabcorp Launches Merged Pools, Powered by Nasdaq’s Longitude Technology
New Trio bet type has been created within the Trifecta pool
NEW YORK and SYDNEY, Australia, March 28, 2019 (GLOBE NEWSWIRE) — Tabcorp Holdings Limited (ASX: TAH), Australia’s leading wagering operator, and Nasdaq (Nasdaq: NDAQ) announced Tabcorp has officially launched its new Trio betting type for pari-mutuel customers. Powered by Nasdaq’s Longitude merged pool technology, Trio allows customers to select three horses to finish first, second and third in any order.
The Longitude technology offers an enhancement to the tote betting system that allows multiple bet types to be merged into one pool. In this scenario – Trio merging with the Trifecta pool – allows customers to bet into pools with aggregated liquidity, allowing for greater dividend stability and confidence. Furthermore, this technology creates more certainty for customers of their potential returns by providing the ability to see approximate dividends on their Trifecta and Trio bets.
“We’re committed to bringing the best possible products to our customers and believe Trio will be loved by punters,” said Andy Wright, Executive General Manager of Wagering, TAB. “It’s the first of many exciting opportunities made possible by our merged pool technology and we look forward to unveiling more new bet types in the future.”
“In launching Trio with our merged pool technology, Tabcorp is providing its customers with an innovative betting type that makes efficient use of existing liquidity and greater transparency for the market,” said Scott Shechtman, Head of Longitude and New Markets, Nasdaq. “We look forward to supporting Tabcorp’s innovation as they continue to enhance the customer experience by creating new pari-mutuel betting products over the coming years.”
Nasdaq’s world-leading market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.
Tabcorp is a world-class diversified gambling entertainment group and top 50 ASX company with more than 5,000 employees. In December 2017 Tabcorp combined with Tatts Group. Tabcorp now operates the brands TAB, Tatts, NSW Lotteries, Golden Casket, SA Lotteries, Keno, MAX, Sky Racing and Sky Sports Radio – familiar names which ignite passion and excitement in millions of Australians. www.tabcorp.com.au
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.
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