Elray Gaming Announces License Agreement with BetTek for 'Virtual Horse Racing' Platform

Elray Gaming Announces License Agreement with BetTek for 'Virtual Horse Racing' Platform

NEW YORK--(BUSINESS WIRE)-- Elray Resources, Inc. (OTCBB:ELRA), through its online gaming and turnkey solution subsidiary Elray Gaming, announces a license agreement with BetTek Inc for their Virtual Horse Racing platform, SIMTV.

The Company announced that it has finalized a license agreement with BetTek, Inc, for the promotion and development of their Virtual Horse Racing platform, SIMTV. In addition to deploying a Virtual Horse Racing product direct to consumers, Elray Gaming will also seek to build White Labeled Networked products with organizations that already own and operate online gaming products, casinos and sports betting facilities.

Real Time Virtual Reality Horse Racing

BetTek Virtual Worldis a Visually Exciting and Data Rich server based system, BetTek's SIMTV has re-created the world of horse racing down to every element found in live racing.

THE SIMTV Betting Engine has three options which include fixed odds, sliding fixed odds and pari-mutuel, which enables worldwide deployment with regional preferences. Betting can be accepted as soon as the race is posted, up to 7 days in advance. All betting is closed 10 sec prior to race start at which time the system calculates the result 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.

Brian Goodman, the CEO of Elray Gaming commented; "This is a valuable and unique product utilizing 'best of breed' technology and there is no doubt that the product will be embraced by social gamers, online casino players, kiosk operators and sports betting operators generating large revenues for both Elray and its sub licensees. This product will join the ranks of some of the world's most successful online virtual reality products such as FarmVille, Zynga Poker and CastleVille.

SIMTV has created a real-time virtual world strictly focused on a horse racing betting platform. For either cash bets in areas where available, or as 'play for fun' mode, we feel this product could become very popular among horse racing enthusiasts. In addition to development, we will seek out current holders of land-based horse track racing licenses to partner with, and if possible this could be a virtual racing game in betting parlors, or bars around the world."

"The addition of this virtual horse racing platform license to our current gaming portfolio, begins to provide Elray Gaming with a diverse portfolio of gaming products."

To inquire about potential online or mobile gaming partnerships, marketing and promotion, or development of a specific branded online casino platform please email us at brian@elraygaming.com

About Elray Gaming, Inc.

Elray Gaming provides a complete turnkey solution for numerous successful online gaming companies as well as performs strategic marketing and consulting services for Online Gaming operators from all parts of the world. While our US office is in New York, we are a global company with offices in London, Sydney and Curacao, homes of the largest online operators on the net, which helps us actively manage and serve our clients. Our sophisticated patented software automatically declines any gaming requests from within the United States, in strict compliance with current US law. Our Sydney office allows us to tap into skilled resources and some of the world's largest client base, for regular, personal interaction. As our active operations are in a jurisdiction that is friendly to online gaming, our clients can rest assured that we are here to stay. www.elraygaming.com

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Contact:

Melissa Diaz,
South Street Media, Inc
Phone: (917) 937-8968
Email: info@southstreetmedia.com

South Street Media, Inc
Melissa Diaz, 917-937-8968
info@southstreetmedia.com

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