Pool betting set to have new brands this summer as Britbet announce First team
Britbet, the pool betting operation that is expected to replace the Tote on a majority of Britain's racecourses this summer, is set to introduce two new bets when it launches on July 13.
In addition to win and place pools, correct-order pools are said to be planned to extend down to four and five placings. They will be branded First Two, First Three, First Four and First Five. Britbet's hope is to offer multi-million-pound prize guarantees for some of the new pools on the biggest races, such as the Grand National First Five bet.
According to Britbet a proportion of the money from takeouts will be reinvested into dividends for customers, making the effective takeout lower than the headline advertised figure. A cashback programme will be available to online customers.
David Williams, Britbet director of communications, said: "Some of our new bet types are popular in other countries and we’re confident they will appeal to customers who have been crying out for fresh bet types to embrace in the UK.
"Our cashback facility, coupled with the significant pool guarantees we're going to be able to offer, will ensure we're 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."
Britbet has agreements with 55 tracks to operate the pool service when the Betfred-owned Tote's exclusive seven-year licence to run pool betting expires. However, the Tote retains the brand rights to the Scoop6, Jackpot and Placepot.
The new venture is set to launch amid a public falling-out between its two main stakeholders, Arena Racing Company and Racecourse Media Group, and likely competition for business from the Tote, in which multi-million-pound investment is promised once Betfred boss Fred Done completes the sale of a 25 per cent stake to the Alizeti consortium.
Williams said Britbet's full range of bets would be announced soon.
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