Operator bet365 launches new ‘Position Payout’ product for horseracing
New betting option that pays out based on finishing position is introduced.
Key points:
– bet365 has launched Position Payout, a new horseracing product that offers payouts according to the position a selection finishes, starting in the UK, Ireland and Australia
– The product offers fixed odds with increasing payouts the higher the finishing position and is available on multiples
Operator bet365 has introduced Position Payout, a new product for horseracing betting that calculates payouts based on where a selection finishes, rather than only rewarding the winner.
The product is now available in the UK, Ireland and Australia.
Position Payout provides fixed odds for finishing positions, allowing customers to know the potential payout before placing a bet. The product includes prices for finishing first, second, third, fourth and further positions depending on the race.
To place a bet, users select a race offering Position Payout markets, choose their selection and see the payout increase the higher the selection finishes.
Good to know: Bet Credits can be used for Position Payout bets but stakes paid with Bet Credits are excluded from returns
The Position Payout concept could be adapted for other sports where competitors or teams are ranked by finishing position or standing, such as motorsports, golf tournaments and cycling races to name a few.
Neil Fairweather, bet365’s CMO, stated: “Reflecting our commitment to horse racing and our dedication to innovation, Position Payout delivers a premium betting experience for our new and existing customers.”
Steve Freeth, bet365’s sports and trading expert, added: “Football fans at bet365 have our family of boosts, the Early Payout Offer, the Accumulator Bonus and ‘Sub On Play On’ to enhance their enjoyment of their favourite sport, and now horse racing fans have Position Payout!”
With the British Horseracing Authority launching the #AxeTheRacingTax petition, innovations like bet365’s Position Payout arrive as part of broader efforts to revitalise horseracing betting offerings.
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