Swopstakes
Swopstakes[edit]
 Swopstakes logo | |
| Privately held company | |
| ISIN | 🆔 |
| Industry | Online Gambling |
| Founded 📆 | July 2012 |
| Founder 👔 | Shaun Pyrah, Glen Johnson, Craig Driver, Mike Russell, Patrick Herrera, Damian Kawa |
Area served 🗺️ | |
Key people | Shaun Pyrah, Director Product Glen Johnson, Director Design |
| Members | |
Number of employees | |
| Parent | Six Faces Pty Ltd |
| 🌐 Website | www.swopstakes.com |
| 📇 Address | |
| 📞 telephone | |
Swopstakes is an award-winning online games platform conducting multi-event sweepstakes. Described by Racing Future as 'A horse racing jackpot game that combines elements of Daily Fantasy Sports, “Survivor”-style pools, and the game show “Deal Or No Deal”'[1]
Each Game is based on a set of two or more Events. All Events in a Game are approved NTRC sports betting events e.g. a horse race, or a football match.
Each Event has two or more possible results, referred to in Swopstakes as Outcomes. The combination of Events and Outcomes is used to create the Game’s Ticket Deck. In the Game’s Ticket Deck, like in a sweepstake: there is one unique Ticket for every possible combination of winning Outcomes, across every Event in the Game. No two tickets in a Game are the same.
A Swopstakes game is typically played out over an entire race meeting or a round of sporting events, and by the end, only one winning ticket will have the winner of every event.
A demo game shows how Swopstakes works.
Entering a game[edit]
Players enter a Game by purchasing Tickets. On every Ticket there is a description of the Outcome, or Bracket, assigned to that Ticket in each and every one of the Game’s Events. A Bracket is a set of two or more Outcomes in an Event, which are grouped together for the purpose of resulting the Ticket.
Events in a Game are resulted according to the Official Results. As each Event in the Game is resulted: Tickets in the Game that correctly describe the winning Outcome in that Event, based on the Official Result, survive to the next Event in the Game. If a Ticket describes a Bracket in that Event, and if any Outcome in that Bracket is a winning Outcome, the Ticket will survive to the next Event in the Game. All Tickets in the Game that failed to describe the winning Outcome are eliminated (knocked-out) from the Game, including: Tickets owned by Players and/or TheBank, Tickets in the Game’s Ticket Deck
Players can purchase random tickets from the game ticket deck, or search for tickets that will have the desired runner (or sporting team). The latter will be tickets that other players have cashed-out – see the fold option below.
Game tactics[edit]
There are two ways to play Swopstakes:
- Buy tickets and let them play out as a 'game of chance'.
- Make it a 'game of skill' (better suited to keen sports bettors and fans) by actively playing out the following choices:
- Hold – keep tickets that you think can win
- Fold – cash out tickets you think are going to lose
- Raise – buy more tickets so that you can increase your chance of being the winner
- Swop – throw out all tickets and re-draw new ones
Ticket values[edit]
Ticket values will fluctuate with market opinion (odds) changing and will increase after surviving an event; because less tickets are left that can win. Sometimes it will be beneficial to cash-out if a ticket is predicted to not survive the next event. A player may have had a good run, and at a particular depth into the game now only have an 8% chance of getting through to the next round, so they may cash-out for a collect.
Players can Swop tickets as mentioned earlier. This is essentially cashing-out the entire hand of the players current tickets and re-drawing new ones. These re-drawn tickets are picked at random from tickets in the Game Deck, with the players old tickets going back into the deck so that others may be able to re-draw them. There is a cost associated with using the swop option, and it will be indicated before a player confirms the ticket swop.
Winning[edit]
After resulting the final Event in the Game, only one Ticket will survive. This Ticket is the winning ticket. A Game in which there are Dead-Heats and/or Abandoned Events will result in multiple winning tickets. The winning ticket is paid the Prize or Prize Pool, depending on the Game Type and the Game’s prize payment rules, which may also include the payment of consolation prizes in the form of Free-to-play Credits for those that get knocked out late.
History[edit]
The product concept originated with Six Faces Pty Ltd co-founder Shaun Pyrah and was then co-developed with the other five initial founders.
Swopstakes received critical professional acclaim and very narrowly missed out on winning the Start-Up LaunchPad in 2013 at the European iGaming Congress & Expo, Barcelona Spain[2]. EiG LaunchPad judges drew parallels to the level of innovation achieved by Betfair; seen some 10 years prior.
Numerous false starts in commercial release were experienced in the following years due to high levels of merger and acquisitions in the Australian sports betting industry. Finally, in 2015, with what seemed like a final roll of the Six Faces Dice, Swopstakes was entered into the 2015 Innovators’ Circle event at the Global Symposium on Racing & Gaming in Arizona, USA. Swopstakes won the event[3] and subsequently experienced renewed market interest. A commerical release was deployed as a Free-to-play cash prize product in October 2018.
Awards and recognition[edit]
- 2013 Start-Up LaunchPad Finalist European iGaming Congress & Expo, Barcelona Spain[4]
- 2015 Innovators’ Circle Winner Global Symposium on Racing & Gaming, Arizona USA[5]
References[edit]
- ↑ "Survivor Meets Deal Or No Deal: Racing Game Wins Symposium Competition". paulickreport.com. 9 December 2015. Retrieved 9 May 2019.
- ↑ "EiG Launchpad finalists announced". igamingcalendar.com. 2 October 2013. Retrieved 9 May 2019.
- ↑ "Australian Gambling Start-Up Wins US Racing Innovation Competition". igamingcalendar.com. 24 December 2015. Retrieved 9 May 2019.
- ↑ "Congratulations to our winners! Read their great stories!". crucial.com.au. 5 November 2013. Retrieved 9 May 2019.
- ↑ "Swopstakes wins Innovators Circle award". agbrief.com. 2 October 2013. Retrieved 9 May 2019.
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