Its new license will allow North American operators to use Colossus Bets horseracing pools.

Sean Pinsonneault of Bluslate represented Colossus Bets before the Oregon Racing Commission.

Colossus Bets CEO Bernard Marantelli said: "We are looking forward to bringing the Colossus formula of lotto-sized jackpots with leg-by-leg cash out and crowdfunded syndicates to North American horseplayers.

"It will be the first time cash out on racing has been offered in the US."

Jack McGrail, Executive Director of the Oregon Racing Commission, said: "We are pleased to award this license to Colossus Bets and we welcome the innovation they will bring to pari-mutuel betting on horseracing, for our licensees and their players."