Longitude Reaches Milestones With HKJC

Longitude, the inventor and distributor of the Longitude Enhance Pari-Mutuel System, reached two milestones with that technology during the G1 Melbourne Cup in its role as software licensing partner to the Hong Kong Jockey Club. The Longitude Enhanced Pari-Mutuel System calculated the Quartet and First Four merged pool on the largest field to date, 24 horses, in the Melbourne Cup, and also calculated the first-ever Winning Region Composite Win bet into the HKJC’s win pool for the Cup. The Composite Win is an alternative way of betting into the win pool based on pre-determined groupings.

Richard Cheung, HKJC executive director, customer and marketing, commented, “As one of the largest racing totes, we have generated many innovative ideas that are welcomed by customers, but we need the technology foundation to deliver these concepts. The mathematical engine powering Longitude is proven in the financial and derivatives trading world, and we have found a way to leverage the engine to realize our ideas such as the Quartet merged pool and Composite Win Pick 1, Winning Region. We are very pleased with the customer response.”