The global sports betting operator bet365 has launched an innovative new product for horse racing called Position Payout, designed to offer customers more ways to win.
Now available for races in the UK, Ireland, and Australia, this new feature calculates payouts based on the final finishing position of a horse, rather than only rewarding bets on the outright winner.
This creates a more engaging betting experience and provides opportunities for a return even if a selection does not win the race.
The Position Payout product provides customers with fixed odds for various finishing positions, allowing them to know their exact potential payout before placing a wager. Depending on the size of the race, the feature includes prices for a horse to finish first, second, third, fourth, and in some cases, even further down the field.
To use the product, customers simply select a race that offers Position Payout markets, choose their horse, and will see the potential payout increase the higher up the final standings their selection finishes.
This adds a new strategic layer to horse racing betting, moving beyond the traditional win and each-way markets.
Neil Fairweather, CMO at bet365, described the new product as a reflection of the company’s “commitment to horse racing and our dedication to innovation.”
Steve Freeth, the operator’s sports and trading expert, positioned Position Payout as a valuable addition for racing fans, similar to how features like Early Payout and Accumulator Bonuses enhance the experience for football bettors. While bet365’s Bet Credits can be used for these wagers, it is important to note that stakes paid with Bet Credits are excluded from any returns.
The concept has the potential to be adapted for other sports where finishing positions are key, such as motorsports, golf, and cycling. This innovation arrives as part of broader industry efforts to revitalize horse racing betting, coinciding with initiatives like the British Horseracing Authority’s #AxeTheRacingTax petition.
