Salt Lake City, Utah, Dec. 20, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, is excited to announce it has entered into a letter of intent to create a strategic collaboration with D3 Sports Tech, a pioneer in peer-to-peer skills-based wagering for sports. This collaboration will focus on innovations to enhance gameplay with more realistic and exciting experiences.

By leveraging D3 Sports Tech's expertise in skills-based wagering and compliance, TruGolf intends to create more gamified experiences throughout its ecosystem for golf and multisport arcade games and franchises. The collaboration partnership will also elevate TruGolf's advanced game and player data analytics to provide insights that increase engagement to ultimately provide more exciting virtual experiences that surpass what can be done out on the course.

"Golfers want to 'play for something,' just like when they are out on the course," said Nate Larsen, CXO of TruGolf. "Having something on the line, whether it's a beverage after the round or cash, makes the whole experience more meaningful, win or lose. We are thrilled to join forces with D3 Sports Tech to bring new features to our game challenges and provide all our users with an even more immersive and rewarding experience."

Golf Datatech reports, "There is no participation sport in the United States that is as closely connected with wagering than the game of golf," said John Krzynowek, co-founder of Golf Datatech. "Most recreational golfers wouldn't consider playing a round of golf with friends without some kind of bet on the outcome, whether it was for a beer, a $5 Nassau, or something more significant. In fact, handicaps by their nature are an attempt to level the playing field and allow a +1 handicap and a 15 handicapper to compete head-to-head and still have a friendly match, very often accompanied by a wager." The report also highlights that 84% of total respondents (from their 2022 study) are likely to wager on their own golf game while playing.

D3 Sports Tech specializes in turn-key digital wallet solutions that provide the required FinTech legal compliance for skills-based gaming with cash payouts in over 100 countries. Their state-of-the-art Digital Wallet with Wagering as a Service will be seamlessly integrated into TruGolf's simulators through 3 simple APIs that ensure reliable and compliant challenges for real-money. D3's solution has been certified by both the Nevada and New Jersey gaming boards which ensures Players can legally challenge others and play for something like they do on course, with the added benefit of using those funds to spend immediately in real time across TruGolf's ecosystem. Players will be able to join a 'Closest to the Pin' contest against friends in the room, or across the globe. They will be able to play side games like Nassau, Skins, or Dots in person, or remotely with a friend on the other side of the country.

"We are excited to partner with the team at TruGolf," said Tom Naramore, CEO of D3 Sports Tech. "Their advances in technology that provide more realistic experiences, together with their use of AI through watson.ai technology from IBM, complements our vision for the future where we are having more fun and leveraging technology for more immersive experiences.

"Both companies are committed to delivering what no one thought possible in golf simulation technology just a few short years ago. D3 Sports Tech's patent pending digital wallet services & compliance engine will enable TruGolf to operate tournaments, contests and challenges in over 100 countries including 46 US states. This collaboration will bring a new level of player engagement and revenue and loyalty to TruGolf's brand, helping golfers of all levels improve their game and enjoy the sport even more." added Naramore. With the D3ST enterprise fintech solution, TruGolf can collect up to a 15% game admin fee, power loyalty programs, and grow E-commerce as players spend through their cash-less digital wallet for wagering.

About TruGolf Holdings

TruGolf is a golf technology company, committed to making golf, easy. From innovative uses for AI to build content and enhance its image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since its founding, TruGolf has redefined what is possible in golf through technology. TruGolf's suite of Hardware, Software, and Web Products make it easier to Play, Improve, and Enjoy the game of golf.

About D3 Sports Tech

D3ST is a B2B sports tech development company that builds products that allows for players to compete and play for something. Since the company's inception in 2018, they have focused on their technology for golf wagering and fan engagement. In 2023 they built a licensable digital wallet for wagering, allowing any skill-based game to settle wagers legally.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the timing and completion of the reverse split. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained in the Company's reports filed with the SEC, which are available on the SEC's website, www.sec.gov.

For more information about the partnership and upcoming innovations, please visit TruGolf.com and D3SportsTech.com.

Media Contacts:

TruGolf: Michael Bacal: Phone: 917-886-9071; mbacal@darrowir.com Web: TruGolf.com LinkedIn: @TruGolf

D3 Sports Tech Scott Keith, Chief Marketing Officer Phone: 833-926-2238 Web: D3SportsTech.com LinkedIn: @d3-sports-tech