Elray Resources Inc (ELRA)

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Elray Gaming Signs License Agreement for Virtual Horse Racing Platform

Last Updated: Aug.16, 2013 - 7:50am EST

(NEW YORK)--Elray Gaming, Inc. (OTC:ELRA), a provider of online and mobile gaming turnkey solution subsidiary, announces license and consultancy agreement with Virtual Technology Group, LLC for their virtual horse racing platform.

ELRA Highlights

- Launched their First Online Casino
- Operating Binary Option Platform
- Developing Virtual Horse Racing Platform
- To Acquire Mobile Gaming Technologies
- Online Gaming Sector in Strong Demand
- 22 Million Shares Outstanding
- Low Market Cap Compared to Peers in Sector

On July 14, 2013, the Elray Gaming entered into an agreement with Virtual Technology Group, LLC to assist in developing, marketing, and supporting their technology of a virtual online horse racing products, and to provide the Company exclusive use right of certain domains.

The horse racing platform will have three options which include fixed odds, sliding fixed odds and pari-mutuel, which enables worldwide deployment with regional preferences. Each engine calculates the payout based on the engine rule set and odds calculated by the virtual world system. Betting can be accepted as soon as the race is posted, generally 3 days in advance. All betting is closed 10 sec prior to race start when the system calculate the rendering files and sends the animation file to the viewer for the running of the race. This prevents tampering with the odds and payouts. This method offers the greatest security against any players or bots trying the “beat” the game. The system tracks every bet transaction for each user in “cash” or “play for fun” mode that can be viewed by the player from the web page, or by the operators from the call centre module.

A sample video of the virtual horse racing platform can be vieed at

This new virtual horse racing platform now gives ELRA three gaming products under development; Golden Matrix binary options platform, Golden Galaxy Online Casino, and their new virtual horse racing platform.
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