Betfair NJ partners with GAN & Colossus Bets to introduce cash-out to US gaming audiences
Betfair announces the arrival of the Colossus Fracpot, the world’s first cash-out slot, to its New Jersey site. The US giant has partnered with leading gaming provider Game Account Network (GAN) and cash-out pioneer Colossus Bets, bringing cash-out to the US market for the first time ever across any gaming vertical.
Where traditional slots are designed to be an ‘all or nothing’ experience, Colossus Fracpot enables players to cash out their position and bank profits in fractions after each reel resolves. Cash-out functionality delivers phenomenal engagement figures with 91% of players offered a cash-out accepting the offer and 83% of those accepting, cashing out 50% or more of their ‘position’. When Colossus Fracpot was first introduced on Sky Vegas in 2015, it became Sky’s second biggest grossing game for that quarter.
Lorcan Kelly, Director of Betfair Casino in NJ said: “We are excited to bring an innovative new slot product to the NJ Casino market with Colossus Fracpot. We feel the Cash Out feature is one that is easy for customers to pick-up and will appeal as a unique, never seen before, product offering in the US”
Tom O’Halleran, Product Director of GAN said: “Working with Colossus Bets to bring this new slot concept to the New Jersey market has been a great experience. Cash Out is a feature that puts control of the game in the players hands, letting them make choices while the reels are still spinning, driving player engagement and stickiness to have them coming back again and again.”
Bernard Marantelli, CEO and founder of Colossus Bets said: “We are thrilled to be bringing Cash Out into the US and even more so with Betfair, a long-standing and successful partner in the UK and we now look forward to expanding that partnership across the Atlantic. We are also extremely excited to team up with GAN on the delivery of this innovation and we look forward to the next phase of our collaboration in the US and throughout Europe.”