What 123bet does

123bet operates as MyWinners, a US-licensed pari-mutuel betting platform that is a brand of Sportech, founded in 1996. The company provides legal wagering on horse racing (Thoroughbred and Harness), greyhound racing, and Jai Alai, alongside virtual sports, reels, slots, jackpots, and contests. Its technology stack is a mobile-first and web-based Advance Deposit Wagering (ADW) platform with geo-location verification to enforce state-level eligibility. The company supports live streaming of events where broadcast rights are available and accepts deposits via debit/credit card, ACH, Venmo, PayPal, PNM cash, and Bitcoin, using Intercom for customer support.\n\nMyWinners generates revenue through transaction-fee takeouts from pari-mutuel betting pools, where it retains a percentage of each pool before distributing winnings to successful bettors. It earns additional revenue from reels, virtual sports, and jackpot games tied to official pari-mutuel pools (available outside Connecticut), plus newer contest offerings. The platform is licensed by the Connecticut Lottery Corporation for in-state pari-mutuel wagering and holds multi-state ADW licensure through a partnership with Lien Games Racing LLC, enabling online access in 35+ US states.\n\nThe company distributes through a self-serve direct-to-consumer model targeting individual bettors via iOS and Android apps, a web platform, and nine physical Winners licensed betting venues across Connecticut (including two Bobby V's Restaurant & Sports Bar locations in Stamford and Windsor Locks). Fanatics Betting & Gaming provides licensed sportsbook services inside Winners venues, making the physical locations full-service betting and entertainment destinations. Customer acquisition relies on app store presence, website content, and organic search visibility rather than aggressive paid acquisition.

Name

123bet

Legal name

Sportech (MyWinners brand)

Website

https://123bet.com

Company type

Private

Founded year

1996

Operating status

Operating

Short description

123bet (MyWinners) is a US-licensed pari-mutuel betting platform operating since 1996 under Sportech, offering wagering on horse racing, greyhound racing, Jai Alai, virtual sports, and jackpots across 36+ US states and nine physical Winners venues in Connecticut.

Ownership category

akta.pro rank

Product category

Online Pari-Mutuel Betting & Wagering

NAICS

Gambling Industries (7132)

SIC

Services-Racing, Including Track Operation (7948)

akta.pro primary industry

Online Horse Racing Betting (Advance Deposit Wagering/ADW) (MPAEADAD)

Keywords

• Pari-mutuel betting
• Horse racing wagering
• Advance deposit wagering
• Greyhound racing betting
• Online sports betting

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Pari-Mutuel Betting Takeout: Revenue generated from pari-mutuel betting pools. All wagers go into shared pools and the company retains a portion (takeout) from each pool before distributing winnings to successful bettors. Supports Win, Place, Show, Exactas, Trifectas, Superfectas, and Pick multi-race pools across horse racing, greyhound racing, and Jai Alai.
2. Gaming Revenue: Additional revenue from reels, virtual sports, and jackpot games available outside of Connecticut, all connected to official pari-mutuel pools so players are never betting against the house.
3. Contests: Brand new contest offerings available for betting participants, providing additional engagement and revenue opportunities.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

123bet (operating as MyWinners) is a fully legal, US-licensed pari-mutuel betting platform that lets users wager on horse racing, greyhound racing, and Jai Alai through iOS/Android mobile apps and a web platform accessible in 36+ US states. The company operates nine physical Winners licensed betting venues in Connecticut and earns revenue by retaining a takeout percentage from pooled wagers, where all bets go into shared pools and dynamic odds determine payouts. Additional offerings include virtual sports, reels, slots, jackpots, contests, and live streaming of events where broadcast rights are available.

Product overview

MyWinners is an online Advance Deposit Wagering (ADW) platform for legal pari-mutuel betting. The platform offers a unified digital experience accessible via web and mobile apps (iOS and Android), covering horse racing (Thoroughbred and Harness), greyhound racing, and Jai Alai. The product suite also includes virtual sports, reels/slots, jackpots, and contests — all tied to official pari-mutuel pools. MyWinners is licensed directly by the Connecticut Lottery Corporation and operates multi-state ADW services through Lien Games Racing LLC. The company also operates nine Winners physical venues in Connecticut (racebooks and sportsbooks), combining online and in-person betting experiences.

Differentiator

Problem solved

Functional benefit

Brands

• Winners Venues: Physical pari-mutuel betting venues operated by MyWinners across Connecticut, including racebooks and sportsbooks.

Products and services

• MyWinners Mobile App (iOS) iOS mobile application for legal pari-mutuel betting, allowing users to bet on horse racing, greyhound racing, Jai Alai, virtual sports, reels, and jackpots. Available on the App Store.
• MyWinners Mobile App (Android) Android mobile application (APK) for legal pari-mutuel betting, providing access to horse racing, greyhound racing, Jai Alai, virtual sports, reels, and jackpots. Available for download as an APK file.
• MyWinners Online Platform Web-based Advance Deposit Wagering (ADW) platform for pari-mutuel betting, accessible at app.mywinners.com. Supports horse racing, greyhound racing, Jai Alai, virtual sports, reels, slots, jackpots, and contests.
• Winners Venues (Physical Betting Locations) Nine physical Winners licensed betting venues across Connecticut, including racebooks and sportsbooks. Locations include Norwalk, New Britain, Hartford, Manchester, Milford, Waterbury, East Haven, and two Bobby V's Restaurant & Sports Bar locations in Stamford and Windsor Locks.
• Horse Racing Betting Live and daily horse racing betting across US and international tracks, including Thoroughbred and Harness racing, with bet types such as Win, Place, Show, Exactas, Trifectas, and Superfectas.
• Greyhound Racing Betting Live greyhound racing betting with various wagering options, available both online and at Winners Venues.
• Jai Alai Betting Betting on the fast-paced sport of Jai Alai, offered as part of the pari-mutuel wagering platform with special betting options.
• Virtual Sports & Gaming (Reels, Slots, Jackpots, Contests) Live virtual sports, slot-style reels, instant slots, jackpot games, and competitive contests — all connected to official pari-mutuel pools so players are never betting against the house. Available 24/7.

Quantifiable outcome

• Legal betting available in 36+ US states with geo-location verification
• +1 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Fanatics Betting & GamingcoreChannel Partner/ Reseller/ DistributorFanatics Betting & Gaming provides licensed sports betting services in partnership with Winners venues across Connecticut. This partnership enables Winners venues to offer comprehensive sports betting alongside pari-mutuel racing betting, creating a full-service betting destination at each physical location.
• Lien Games Racing LLCcoreTechnology or IntegrationLien Games Racing LLC is the licensed Advance Deposit Wagering (ADW) provider based in North Dakota that enables MyWinners/Winners to operate legal online pari-mutuel betting in over 35 states outside of Connecticut. The company holds multi-state ADW licenses that authorize online wagering under state-specific regulations.
• Connecticut Lottery CorporationcoreTechnology or IntegrationThe Connecticut Lottery Corporation licenses and regulates Winners for pari-mutuel wagering within Connecticut. All betting through Winners venues in Connecticut is conducted through officially approved, state-regulated channels under Connecticut law.

Scale indicators3 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• TVG: FanDuel Group-owned ADW horse racing platform and television/streaming network. Direct competitor offering pari-mutuel betting, live streaming, and multi-state ADW licensing—mirroring MyWinners' product set and customer base.
• AmWager: AmWest Entertainment-operated ADW platform for legal online pari-mutuel horse racing betting. Direct competitor operating in the same ADW regulatory framework and serving similar US racing bettor segments.
• Xpressbet: Stronach Group-affiliated ADW horse racing betting platform offering pari-mutuel wagering across tracks. Direct competitor on online pari-mutuel betting, multi-state reach, and racing-focused customer base.
• NYRA Bets: New York Racing Association-operated ADW platform for pari-mutuel wagering on horse racing. Direct competitor on ADW mechanics, horse racing focus, and multi-state online distribution.
• TwinSpires: Churchill Downs-owned online ADW and horse racing betting platform offering pari-mutuel wagering on US and international tracks. Directly comparable to MyWinners on product (ADW pari-mutuel pool betting on horse racing), target customer (US racing enthusiasts), and regulatory model.

Broad incumbents

• DraftKings: Leading US online sportsbook and iGaming operator with growing horse racing and pari-mutuel integrations. Comparable as a major broad-market incumbent whose scale, product cadence, and promotional budget frame the competitive context for niche ADWs like MyWinners.
• FanDuel: Dominant US online sportsbook operator (Flutter-owned) with integrated horse racing via TVG. Comparable as the dominant omni-channel US betting platform setting the bar on customer experience, marketing spend, and fixed-odds competition against which MyWinners competes.
• BetMGM: Major US online sportsbook and casino operator backed by MGM Resorts and Entain. Comparable as a broad US betting incumbent that increasingly bundles racing content, competing for the same entertainment dollars as MyWinners' racebook customers.
• Fanatics Betting & Gaming: Large-scale US online and retail sportsbook operator that already partners with MyWinners in CT Winners venues. Comparable as a digital sports betting incumbent with significant brand, marketing, and product investment that increasingly overlaps MyWinners' racing verticals.

Emerging players

• HPIbet: Horse Player Interactive-operated ADW platform offering pari-mutuel wagering on US and international horse racing. Comparable as an ADW operator focused on racing with a US-eligible customer base, though less established than MyWinners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 123bet