The Queen’s former horse racing trainer plots to develop a ‘lottery’ for enthusiasts to win their own racehorse.
James O’Donnell and his brother Hugh, a former investment banker, want to raise £2m in new investment for ‘Racehorse Lotto’.
The siblings launched their business in March 2020 in conjunction with Germany-listed lottery business Zeal Network and are keen to expand into Ireland.
A number of prizes are on offer, with the jackpot being ownership of a racehorse for one year with all training, racing and vet bills paid.
He lined up well-known trainers such as Mark Johnston, Jonjo O’Neill, Roger Varian, James Ferguson and Richard Hannon to tend the horse on behalf of the winner.
Punters pay £3 for a ticket and a fifth of sales are donated to horse racing charities. Three sole proprietors and 21 unionized owners were created. Parent company Furlong Gaming claims to have 16,000 registered customers.
The brothers claim there are 11 million “hardcore” racing fans, but only 8,000 owners.
Hugh O’Donnell, Managing Director of Furlong Gaming, said there was “proven demand…for our horse racing lotteries”.
He added: “We see a huge opportunity to not only create a unique dream for many racing fans, but also to give back to the sport, much needed after the past two years and to build a substantial international community. business also on time starting with expansion into Ireland next year.
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This notice was published: 2022-04-18 15:11:34