SOURCE: TrackBets International, Inc.

July 16, 2008 08:31 ET

TrackBets International Negotiating Joint Venture for Multi-National Racing Simulcasts

NEW YORK, NY--(Marketwire - July 16, 2008) - TrackBets International, Inc. (PINKSHEETS: TRKB) is pleased to announce that it has commenced negotiations to create a joint venture that would enable the Company to distribute an advanced deposit wagering (ADW) Web portal, facilitating wagering on horse races in Brazil and the United States, from residents in each country. If completed, the joint venture would create revenue opportunities from wagering in the U.S. as well as Brazil.

In 2001, ADW became legal in the U.S., allowing participants to deposit funds and later wager via phone, Internet or mobile devices such as cell phones and PDAs, making it easier to place wagers. According to the Oregon Racing Commission, which documents figures on most ADW companies in the U.S., in the first Quarter of 2008, more than $351 million were wagered on horse racing in the U.S. through ADW companies. During the 2006 Kentucky Derby Day, the largest provider of Internet racing content in the U.S. processed nearly $5.6 million in wagers, a 34 percent increase over 2005.

The joint venture would enable TrackBets to distribute the ADW portal via the Internet, enabling residents in Brazil to wager on horse races in the U.S. Residents in the U.S. could also wager on horse races in Brazil, and TrackBets would retain a percentage of the profits generated from both countries.

"Advanced Deposit Wagering is undergoing an incredible growth period, and we intend to create a dynamic experience for racing enthusiasts. The possibilities for viewership and revenue are endless," stated John D. Samuel, CEO and President of TrackBets International, Inc.

Horse race wagering has increased year to year in 11 of the past 15 years. Some of the benefits of ADW include the low cost to betters, the ability to build a fan base via Web sites, an inexpensive means to broadcast races within and outside the U.S., and the ability to add other features such as games, merchandise and wagering on other sports.

TrackBets was recently profiled in "Larry Oakley's Stock Pick" on WallStreetCorner.com, and CEO, John D. Samuel, was interviewed by Mr. Oakley, who was optimistic about the Company's plans for potential revenue in the Brazilian wagering market and beyond.

To see the full text of the interview, please visit the following link: www.wallstreetcorner.com.

About TrackBets International, Inc.:

TrackBets International is the only North American company operating in the legalized gambling market in Brazil. TrackBets has successfully completed significant milestones in its development and is primed to grow at a substantial and sustainable rate with an infusion of new capital. The Company has an existing infrastructure in Brazil and has thoroughly researched the turf industry.

Safe Harbor Statement: Except for historical information, the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, perceived or actual benefits from Track Bets International's planned operations, the market acceptance and level of sales derived from its operations, the competitive environment within the Brazilian turf industry, and the successful technical and economic implementation of its operations.

Contact Information

  • Contact:
    For more information, please visit:
    www.track-bets.com
    or call
    Investor Relations
    866-THE-APPL(E)