Bet365 launched a new horse racing betting feature ahead of the some key Ascot fixtures last weekend, ‘Position Payout’, with plans to apply the product to other sports.
The new product has taken a spin on horse racing betting by allowing customers to bet on which place the horse will finish in rather than whether it will win the meeting.
Odds are offered per place – first, second, third, fourth etc – with the size of the payout corresponding to where the horse finished in a race. Bet365 states that the feature serves to reward places rather than just wins.
This essentially comes across as an extension of the traditional Each Way format of racing betting, while throwing in an element of the ‘Sub On Play On’ football feature introduced earlier this year.
