Global renowned betting operator bet365 is launching a new horse racing betting product called "Position Payout" in the UK, Ireland, and Australia. This feature pays out based on the final positions of the horses in the race, breaking away from the traditional model that only rewards the winner, thus offering more flexibility and potential returns for horse racing enthusiasts.

"Position Payout" uses a fixed odds mechanism, allowing users to see the payout levels for different positions clearly when placing bets. Odds are set from the winner to the fourth place and beyond, with higher ranks receiving higher payouts. This feature also supports combination bets and allows the use of betting credits for placing bets (however, bets placed with betting credits are not included in return offers).

bet365 states that this new product not only enriches the horse racing betting market but is also expected to be extended to other ranking-based sports such as racing, golf, and cycling.

bet365 Chief Marketing Officer Neil Fairweather commented, "Position Payout demonstrates our long-term commitment and innovative spirit towards horse racing, aiming to provide our customers with a superior betting experience."

Sports and trading expert Steve Freeth added, "We have already introduced several popular offers in football, such as early payout, accumulator bonuses, and 'substitute player counts as usual', and now horse racing fans can also enjoy similar enhanced play options."

The launch of this product coincides with the UK horse racing industry's call for reform of the "Racing Tax" (#AxeTheRacingTax), and bet365's "Position Payout" is seen as another innovative attempt to invigorate the horse racing market and attract new participants.