britbet to introduce new correct-order bet types and effective take-out rates across pools
britbet have revealed details of some of their new bet types which will arrive on British racecourses this summer when the new pool betting operation launches.
The pool betting operation has also set out its ambition to deliver a flexible approach to take-out rates across their bet types for online britbet customers.
As well as the familiar WIN and PLACE pools, britbet are introducing a range of ‘correct order’ pools called the FIRST TWO, FIRST THREE, FIRST FOUR and FIRST FIVE in an attempt to breathe life into the existing pool betting options in the market.
The latter two pools are completely new bet types in the British market, and will be supported by guaranteed pool sizes designed to appeal to customers. Multi-million pound prize guarantees will be available for some of the new pools on the biggest races, such as the Grand National FIRST FIVE bet.
Customers will benefit from significant pool guarantees, funded from the take-outs which will be broadly in line with existing industry norms. In effect, britbet will be reinvesting a proportion of the money from the take-out back into dividends for customers, making the ‘effective’ take-out lower than the headline advertised take-out.
In addition, a ‘cashback’ programme will be offered to online customers which will see many pool bettors benefit from britbet’s policy of rewarding loyal, consistent players over time.
David Williams, Director of Communications at britbet said: “We’re introducing some much-needed innovation to the pool betting landscape. Some of our new bet types are popular in other countries and we’re confident that they will appeal to customers who have been crying out for fresh bet types to embrace in the UK. Our technology allows us to roll these out at launch and identify those customers who find them engaging. It’s an exciting development that we’re proud to be offering.
“Our ‘cashback’ facility, coupled with the significant pool guarantees we are going to be able to offer, will ensure we are able to reward specific customers and groups of customers with rates that are both preferential and competitive. There are circumstances when regular pool players will – effectively – be betting at rates that are markedly superior to the existing industry standard.
"We’ve got more plans for our exotic multi-leg bets rattling down the line and are looking forward to sharing the details of how our product innovations can enhance our soon-to-be-announced full range of bets.
“Ultimately, we believe our blend of offering a competitive and appealing product and brand to customers alongside our commitment to being a “by racing, for racing” operation will prove popular.”