We started in late 2012. I founded the company after several years experience at BetOptions (which went on to become Luxbet pretty much) and then Typhoon Gaming. We're Australian based with an office in Sydney, along with a regional development outpost in Tasmania.
BetOptions was primarily a fixed odds / corporate bookmaking software supplier, where as Typhoon Gaming was all Parimutuel. So, following both of those companies taking very different directions that left them no longer in the market, it's no shock that when starting Modern Wagering Systems I decided to cover those two areas. Why? There was a gap left - there were no modern systems, offering a technical solution that is suited to today's environment covering full virtualisation, distributed development and operation and uses tools that match the skill sets of today's developers. All that means is with MWS' software you can run a full country wide tote on commodity hardware or cloud services and actually have people that can work with the system. What's more, they actually want to. This means you can take advantage of all the other modern stuff out there like online services, blockchain, cryptocurrencies (once the regulators finally get on board) and so on.
Now as far as wagering itself goes, we offer a state-of-the-art fixed odds and Parimutuel system. In fixed odds we offer all of the usual things you would expect including win, place, multis, betbacks, risk management. In Parimutuel we offer (right now having come out of a months long refactoring binge) win and place, all the exotics including quinella, trifecta, exacta and first four. We're also releasing pick n markets in time for the upcoming 2018 Asian Racing Conference.
Great, but what about new features? Well, here's where we shine. We have full foreign exchange support including all cryptocurrencies, along with point of sales tax, jackpotting and variable commission takeouts. And of course there's no restrictions on things like the number of runners per race, number of races per event or how many betting products you can run concurrently.
Our system is also designed for both online and terrestrial usage and has been in production for the last year having already turned over more than $AUD100M.
Our licensing also includes full source code access to our two major products so that you can extend and control your own destiny.
Our two major products that achieve this are called Bandwagon and Pricemaker.
Our next posts will be looking at each one of these in more detail.
So, if you're a business that has an old tote that needs an upgrade or a new business that needs a comprehensive wagering solution, then we're your guys.