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The inventor of the world's first live in-game sports betting system for Las Vegas casinos has now invented the world's first live in-game system for sports fantasy, Gambling 911 can reveal in a world exclusive report.
Barry Mindes, an 83-year-old engineer from New York who now lives in South Florida, created the SportsXaction betting system in the mid-1990s.
SportsXacton, which debuted at the Excalibur casino in Las Vegas, allowed bettors to wager on every pitch of a baseball game while the game was in progress.
The system was also applied to other sports such as football and was widely copied by others, including a similar later version called Rapid Bet that was used at the Palms casino.
In addition, the system was the forerunner for live in-game sports betting over the Internet, which was first featured by now-defunct online sportsbook World Sports Exchange.
Now, in an exclusive interview with Gambling 911, Mindes reveals that he has created a new in-game wagering system that allows people to wager on fantasy sports via the Internet while the game is in progress.
"It's called the Phantasmagoria Sports System and it took two years to develop," Mindes said. "I will be officially applying for a formal patent next month. Over the next few months I will be testing the software. I expect the system to be in use by the start of the 2016 football season."
Mindes, who earned millions of dollars off the creation of SportsXaction, declined to give Gambling 911 any specific details about how the new Phantasmagoria Sports System works, fearing copycats.
"It's proprietary," he said.
He did reveal, however, that once the computer software for Phantasmagoria is perfected, he will employ it as a so-called "white label" product, meaning he will sell or lease the rights to it to sports fantasy operations.
If Mindes' track record is any indication, expect the Phantasmagoria Sports System to be a success and quickly gobbled up by the various sports fantasy sites competing for a piece of the ever-increasing sports fantasy pie.
In addition to inventing SportsXaction and other gambling systems and programs, Mindes also helped create the off-track betting system for horse racing that originated in New York state and is now famously known as OTB.
By Tom Somach
Gambling911.com Staff Writer
