Bet365 Unveils “Position Payout” to Simplify Horse Racing Betting
Bet365 has launched an innovative new horse racing feature called “Position Payout,” designed to simplify betting and attract a broader audience to the sport. The new product allows customers to bet on the exact finishing position of a horse, offering fixed odds for each potential outcome.
A Simpler Alternative to Each-Way Betting
The new feature is a direct response to the complexity of traditional “each-way” bets, which can be confusing for casual fans. With Position Payout, the concept is straightforward: the higher a horse finishes in the race, the bigger the payout.
“While sometimes each-way terms can be difficult to understand, Position Payout couldn’t be simpler,” said Pat Cooney, a racing expert at Bet365.
“The higher your horse finishes, the higher your payout.” This clarity is aimed at making horse racing betting more accessible to both novice and experienced players.
A “Milestone Product” with Broader Ambitions
The launch of Position Payout is part of a wider innovation strategy at Bet365. The company sees it as a “milestone product” that reflects its commitment to creating more dynamic and user-friendly betting options.
Neil Fairweather, the company’s CMO, confirmed that there are already plans to expand the concept to other sports, including greyhound racing, motorsports, golf, and even outright league markets in soccer.
“Reflecting our commitment to horse racing and our dedication to innovation, Position Payout delivers a premium betting experience for our new and existing customers,” Fairweather said.
A Global Launch for a Key Sport
The new feature was launched simultaneously in the UK, Ireland, and Australia, three of the world’s most important horse racing markets. The timing was strategic, coinciding with the prestigious King George VI and Queen Elizabeth Stakes at Ascot.
The product is available for both single and multiple bets, and customers can use Bet365’s Bet Credits to place wagers. The move is a significant investment in the horse racing vertical, providing a new and unique way for fans to engage with the sport.
“Football fans at bet365 have our family of boosts… to enhance their enjoyment of their favourite sport, and now horse racing fans have Position Payout!” said Steve Freeth, a sports and trading expert at the company.
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