Press Kit Frequently Asked Questions

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1 Press Kit Frequently Asked Questions WHAT IS REWARDBET? RewardBet is a software tool that provides a simple three step process to betting, designed to be more engaging for customers and to help them maximize their returns by taking care of the complex task of staking your bets, which most customers are not skilled at or don t have the practical opportunity to address. WHAT ARE THE SIMPLE STEPS? RewardBet has distilled the betting process into three simple steps. 1. On a given race or event, you choose the selections you want to back. 2. You nominate the total stake you wish to outlay for your betting. 3. You choose one of the default Reward Levels (or create your own) that matches the confidence you have in your selections with an appropriate estimated return so that you are comfortable with the risk verses reward equation. You then submit your RewardBet transaction. Behind the scenes, your RewardBet will contain many individual bets, up to hundreds that the program has automatically calculated for you. These bets consist of the familiar win, quinella, exacta and trifecta bets placed on racing in Australia. However, with RewardBet, all of these individual bets that are created and automatically placed are each calculated according to the chances of each combination winning and staked accordingly to the cent.

2 WHAT ARE THE ADVANTAGES OF REWARDBET TO THE CUSTOMER? RewardBet is a simple yet sophisticated product. It has many advantages: 1. Three simple steps to place ALL your bets for a race. 2. Provides a simple graduation of risk verses return in the patented Reward Levels which flow from Bronze, Silver, Gold, Platinum and to Diamond. 3. Each Reward Level consists of a precise breakdown of all the individual bets that will be bet as well as an estimated return to the customer for their selections. 4. Only product to provide estimated returns for all bets, including exotics, prior to the bet being placed. This allows the customer to tailor their expenditure according to the return they would desire, rather than hoping for a return which rarely aligns with their expectations. 5. It provides for defining your own Custom Reward Level so that any combination of bet types can easily be placed. For example, if you are a customer that only bets Quinella and Trifectas, then your Custom Level will allow you to do this. 6. Automatically calculates the stake for each individual combination according to the price of your selections to the exact cent. 7. Allows the customer to easily change the market prices to use their own prices or ratings like a professional bets. 8. Provides wager-safe features such as the RewardBet Market Gauge which will warn you if you are over-betting with regards to your selection choices so you can reduce your outlay and potentially win more; and Pool Size Warning that warns if you are staking too much according to the size of the betting pools on the race. 9. It is the fastest way to create and place ALL your bets for a race, with the total time to create and submit a RewardBet often less than 15 seconds. 10. It stakes every combination proportionally to return approximately the same amount, rather than using box or flexi betting that most punters use. This means that you automatically have more staked on your most likely combinations and less on the unlikely combinations. The effect of this is that you will maximize your returns from your betting and reduce the volatility of your wins, resulting in a more enjoyable and profitable experience. 11. It is the only product that can be used by all participants in the betting industry- from the novice punter, to the hobby punter and also the professional. This is due to the ability to create Custom Levels and use your own ratings and prices (like professionals do).

3 WHAT ARE THE ADVANTAGES OF REWARDBET TO THE OPERATOR? RewardBet is designed to benefit the operator as well: 1. The three simple step process to place ALL the customer s bets in ONE RewardBet means that customers spend considerably less time doing their betting transactions, queues are reduced, customers get on more races and opportunities are created to place a bet where normally there would not be the time to do so. This all results in increased turnover to the operator. 2. RewardBet is designed to work across any wagering channel. It is not just an internet based product. Thus you can incorporate RewardBet into: a. Internet betting sites and apps, b. Telephone betting with an operator, c. Self-service betting terminals, d. Mark-sense tickets in retail shops, e. Operator betting at race-tracks. 3. RewardBet achieves the holy grail of wagering products. It actually shifts customer spend from win betting (lowest take-out rate) to exotic betting (much higher take-out rates) whilst simultaneously providing the customer with a superior experience and returns. This shift, on current RewardBet usage results in the operator receiving about 11% more revenue for every dollar bet through RewardBet compared with the current distribution of bets across the industry (ie: win/place dominated). 4. RewardBet actually grows the wagering ecosystem. It does this in a multifaceted way: a. It allows the opportunity for customers to bet quickly, maximizing the turnover on each racing event which would normally have been lost due to the impracticalities of betting in the last few seconds before a race starts, b. It reduces the volatility in a customer s bankroll over the betting period increasing their confidence and providing more returns during that period which maintains their betting engagement, c. It provides estimated returns for all bets, allowing customers to confidently tailor their staking to their returns, increasing their expenditure due to the estimate certainty, d. It is such an engaging interface that customers enjoy betting with it, even on events they would not normally bet on. Approximately 14% of RewardBet turnover is on greyhound and harness racing from galloping focused customers,

4 e. It attracts new customers through the superior engagement and betting experience it provides. Poker machine and Keno punters have gravitated to RewardBet as it provides a better betting experience for them, and reduces the volatility of their returns and reduces their loss rates, f. It will reduce slightly the profit on turnover of professional punters (as it emulates their staking methodology which is designed to extract inefficiencies from the exotic pools) meaning that will have to increase their total wagering in order to maintain their profit levels, g. It increases the amount of money in exotic pools. As professional punters bet according to pool level, they will raise their expenditure into these pools, h. RewardBet customers theoretically will win more as a group due to the staking employed by RewardBet. This will mean their banks will last longer and result in turnover increases of about 25-35% due to the slower erosion of their betting banks, i. Non-RewardBet customers, as a group, will theoretically lose more. This means that some of them will have to bet more in order to continue to engage with the racing industry, j. As previously stated, professional punters who target exotics (some of the major players in the world do this) will see their profitability reduce from RewardBet. So they will also wager more to maintain that profitability, k. RewardBet on a mobile device is a very attractive product to young generation race-goers who would not normally be bothered with the betting process. But since it is a concept that is easily communicated and understood (choose some selections, choose your total stake and choose your Reward Level) they will be engaged with the betting product whereas they would not normally, creating new customers and potentially customers for life, l. RewardBet, for a period, will also benefit from a new product honeymoon period that will encourage new players and lapsed players to try RewardBet. A number of these people will continue using RewardBet for life, increasing the wagering ecosystem. 5. RewardBet is an IP protected product. It can provide the licensed operator with a significant competitive advantage. 6. RewardBet allows the wagering operator to target promotions to any level and customer through the promotional Reward Levels. This means that customers can easily be guided to trial new products or betting experiences.

5 7. RewardBet allows the operator to offer fixed price exotics. Previously this was too risky due to the opportunity for professionals to pick off the value exotic combinations. However, with RewardBet, taking only one combination in a range of exotics (eg, trifecta) is not possible and thus the operator can easily manage their risk whilst simultaneously the customer is benefiting from having exact returns with RewardBet (instead of estimates). 8. Since RewardBet utilizes the existing betting bet types provided by an operator, there is no requirement to perform expensive systems design and integration and obtain regulatory approval that happens with the introduction of a traditional new bet type. This means that RewardBet can be integrated very quickly and inexpensively. 9. Customers don t require massive education campaigns to use RewardBet compared to the introduction of a traditional new bet type product. In fact, as RewardBet is so simple to use, customers instantly understand it and don t require training which goes with a new bet type. 10. RewardBet will help introduce customers to potentially new bet types that they were either not aware of or didn t contemplate fully before. For example, a Diamond Reward Level includes the exacta bet type. If a customer wins, they may examine their bet receipt and see that the exacta was a large component of that return. This will make them consider using exactas potentially in the future or finding out more about them.

6 WHAT ARE THE ADVANTAGES OF REWARDBET TO THE INDUSTRY? Many of the customer and operator benefits flow through to the industry. Specifically, the wagering industry benefits from: 1. A new product to engage new customers and invigorate current customers, 2. Substantial increases in turnover from the expansion of the wagering ecosystem, 3. The opportunity to market and promote through RewardBet Promotional Reward Levels, 4. The opportunity to address some of the loss of revenue overseas via NT licensed corporate bookmakers.

7 WHO IS BEHIND REWARDBET? RewardBet was designed and invented by Greg Conroy, who s an Australian internet betting pioneer, being part of the team that delivered the first internet wagering site in Australia in the mid 1990s. He has spent his whole life in the wagering IT industry, is a keen punter and a member of the Melbourne Racing Club. He is a passionate supported of the racing industry and designed RewardBet to address the fundamental issues in current wagering products that don t appeal to new customers, are cumbersome and exploit the retail customer. RewardBet puts the balance back into the punting world- addressing the imbalance of opportunity between professional and retail punters. Now retail customers have the chance to stake their bets like a professional, without requiring sophisticated computer systems. He also designed it to help grow the wagering ecosystem to help support the industry through increased turnover and revenue and additionally provide a product to help maintain the entertainment dollar spend within racing. WHAT IS THE FUTURE PLAN FOR REWARDBET? As RewardBet was designed to grow the Australian wagering industry, it is desired to provide as much exposure of RewardBet to the industry customers as possible. The way to maximize that is to ensure RewardBet is across all the retail operators as well as a strong point of presence on the internet. RewardBet is also a gaming and sports betting product. So there s opportunity for it to be incorporated into those areas as well. Finally, we want to expand RewardBet across the world as the benefits it brings to the Australian industry will mimic in every country.

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