Ship or Die at Accelerate 2025: Photo Finish Live (Ryan Duguid - Third Time Entertainment)

In a groundbreaking presentation at Accelerate 2025, Ryan Duguid of Third Time Entertainment unveiled Photo Finish Live's revolutionary open-tote protocol, set to transform the wagering industry on the Solana blockchain. This innovative platform promises to deliver instant, cheap, and provably fair betting experiences, addressing long-standing issues in traditional wagering systems.

Summary

Ryan Duguid, leading growth for Photo Finish Live and Third Time Games, presented the company's ambitious plans to revolutionize the wagering industry using Solana blockchain technology. The presentation highlighted the success of their existing games and introduced the new open-tote protocol, a custom-built smart contract system designed to efficiently handle betting pools with unprecedented speed and cost-effectiveness.

The open-tote protocol aims to create a unified liquidity network for various betting markets, from horse racing to eSports and beyond. This system is designed to be accessible to any partner or game through a simple API, potentially transforming how betting markets operate across different sectors.

Third Time Entertainment's vision extends beyond their own content, with plans to create a compounding par-mutuel liquidity network. This approach aims to break down the silos typically seen in betting platforms, creating a single, massive pool of liquidity that benefits all participants. The system is underpinned by their native token, Crown, which serves as a coordination tool to align incentives across the ecosystem.

Key Points:

Photo Finish Live's Success on Solana

Photo Finish Live, launched in 2023 on the Solana blockchain, has already achieved significant milestones. The game has generated $23 million in horse sales, $18.5 million in breeding fees, and $50 million in racing fees. Additionally, the platform has paid back $9.3 million to token stakers of Crown, their utility token.

These figures demonstrate the robust economy and user engagement within the Photo Finish Live ecosystem, providing a strong foundation for their ambitious expansion plans.

The Open-Tote Protocol

The centerpiece of Third Time Entertainment's new offering is the open-tote protocol. This custom-built smart contract system is designed to handle the entire lifecycle of betting pools efficiently. It manages the creation, odds calculation, payments, and tear-down of betting pools with remarkable speed and cost-effectiveness.

Key features of the open-tote protocol include settlement times in seconds and transaction costs of mere fractions of a cent per bet. This represents a significant improvement over traditional betting systems, offering users instant gratification and setting a new standard for betting platforms.

Simulcast and Content Distribution

To make their liquidity accessible and bring racing content to a wider audience, Third Time Entertainment introduced Simulcast. This feature allows Photo Finish Live races and odds to be displayed on any screen for free, whether in bars, betting shops, or online platforms.

By distributing their content in the same way as traditional racetracks, but with the added power of blockchain technology, Photo Finish Live aims to turn any screen into a potential wagering opportunity. This approach could significantly expand the reach and accessibility of their betting markets.

Compounding Par-Mutuel Liquidity Network

One of the most innovative aspects of Third Time Entertainment's vision is the creation of a compounding par-mutuel liquidity network. Unlike traditional betting platforms that operate in silos, this approach aims to create a single, massive pool of liquidity that can be accessed by various partners and games.

The system is designed to create a positive feedback loop: more bets lead to deeper liquidity, which in turn leads to better odds, attracting more users. The house take will be utilized to grow and encourage liquidity further, creating a self-reinforcing ecosystem that benefits all participants.

Crown Token and Ecosystem Alignment

At the heart of the Photo Finish Live ecosystem is the Crown token. More than just a speculative asset, Crown serves as a coordination tool to align the incentives of players, developers, and liquidity providers within the ecosystem.

This token-based approach to ecosystem management could provide a powerful mechanism for encouraging participation and ensuring the long-term sustainability of the platform.

Facts + Figures

• Photo Finish Live launched on Solana in 2023
• $23 million generated in horse sales
• $18.5 million collected in breeding fees
• $50 million in racing fees
• $9.3 million paid back to Crown token stakers
• Open-tote protocol settles bets in seconds
• Transaction costs are fractions of a cent per bet
• The team has decades of experience from EA Sports, FanDuel, and Zynga
• Simulcast feature distributes content to any screen for free
• The platform aims to create a unified liquidity pool for various betting markets

Top quotes

• "We believe the future belongs to whoever supplies the most liquid and lowest fee betting pools, and we're building exactly that."
• "Open-tote isn't just for our content. It's built with one powerful idea in mind. And that's that any partner, any game, any eSport can plug into these pools via single API."
• "We're not just betting on blockchain. We're betting on the rails that will move the entire wagering industry forward."
• "This isn't about one game or one protocol. It's about redefining the core economic engine of digital wagering in general."

Questions Answered

What is Photo Finish Live?

Photo Finish Live is a blockchain-based horse racing and wagering platform built on Solana. It serves as a 24/7 content engine, running hundreds of races every day that generate constant wagering demand. The platform has already achieved significant success, with millions of dollars in horse sales, breeding fees, and racing fees since its launch in 2023.

What is the open-tote protocol?

The open-tote protocol is a custom-built smart contract system developed by Third Time Entertainment for Photo Finish Live. It efficiently handles the creation, odds calculation, payments, and tear-down of betting pools. The protocol offers near-instant settlement times and extremely low transaction costs, setting a new standard for betting platforms in terms of speed and efficiency.

How does Simulcast work?

Simulcast is a feature that allows Photo Finish Live races and odds to be displayed on any screen for free. This includes bars, betting shops, and online platforms. By distributing content similarly to traditional racetracks but leveraging blockchain technology, Simulcast aims to turn any screen into a potential wagering opportunity, significantly expanding the reach of Photo Finish Live's betting markets.

What is the compounding par-mutuel liquidity network?

The compounding par-mutuel liquidity network is Third Time Entertainment's vision for a unified betting ecosystem. Unlike traditional siloed betting platforms, this approach aims to create a single, massive pool of liquidity that can be accessed by various partners and games. The system is designed to create a positive feedback loop where increased betting activity leads to deeper liquidity, better odds, and more users, benefiting all participants in the ecosystem.

What role does the Crown token play in the ecosystem?

The Crown token is the native utility token of the Photo Finish Live ecosystem. It serves as a coordination tool to align the incentives of players, developers, and liquidity providers. By using Crown, the platform aims to create a sustainable ecosystem where all participants are motivated to contribute to its growth and success. Token stakers have already received significant payouts, demonstrating the token's practical value within the ecosystem.

How does Photo Finish Live plan to expand beyond horse racing?

While Photo Finish Live started with horse racing, the team's vision extends far beyond this single vertical. They plan to leverage their technology and experience to incorporate other betting markets, including sports props, prediction markets, global lotteries, and eSports. The open-tote protocol is designed to be flexible enough to accommodate various types of betting activities, allowing for significant expansion opportunities.

What advantages does building on Solana offer for Photo Finish Live?

Building on Solana allows Photo Finish Live to leverage the blockchain's high speed and low transaction costs. This enables the platform to offer near-instant bet settlements and extremely low fees, addressing key pain points in traditional wagering systems. Solana's scalability also supports the platform's ambitions to create a large-scale, unified liquidity network for various betting markets.

How does Photo Finish Live aim to transform the wagering industry?

Photo Finish Live aims to transform the wagering industry by addressing long-standing issues such as high fees, delayed settlements, and siloed betting pools. By leveraging blockchain technology and creating a unified liquidity network, they intend to offer a more efficient, transparent, and user-friendly betting experience. Their approach could potentially reshape how betting markets operate across different sectors, from traditional sports to eSports and beyond.