Bet365 has launched a new horse racing product called ‘Position Payout’ designed to give bettors a different way to play.
Ahead of a huge week for the sport with major meetings at Galway and Goodwood, the leading online casino is shaking things up.
Rather than backing a horse to win a race, bet365 is allowing players to bet on runners with odds offered per place – for first, second, third, fourth etc with the payout relative to where the horse finishes.
‘Position Payout’ is an extension of the traditional each-way format of racing betting and is similar to the ‘Sub On Play On’ feature added for football earlier this year by the UK betting site.
Bettors know the exact amount they are going to win before the event and don’t have to bother working out each-way terms to determine a payout if their horse places.
The feature is available on multiples too and players get the added benefit of a bigger payout the higher their horse finishes.
Bet365 ‘Excited To See Customers Take Advantage Of New Product’
Bet365’s racing expert Pat Cooney said in a statement: “The brand new way to bet on horse racing, it’s amazing to see bet365 taking such innovative strides with the launch of Position Payout.
“While sometimes each-way terms can be difficult to understand, Position Payout couldn’t be simpler.
“The higher your horse finishes, the higher your payout. With prestigious meetings at Goodwood, Galway and York in the coming weeks, we’re excited to see our customers take advantage of our brand new product.”
The feature is available on selected UK and Ireland horse racing markets from 10am on the day of the race. It will also roll out globally, available pre-race on selected meetings one hour before the start of the first race.
Joe Lyons is a betting industry writer for GamblingIndustryNews with years of experience on reputable gambling websites. Joe specialises in long form content in the world of sports betting and gambling. Joe is recognised as an expert in sports fields such as horse racing, soccer, NFL and NBA.
