Tabcorp to launch ‘Exact 2nd’ racing product
Pari-mutuel bet innovation involves customers selecting the runner-up in specific race meetings
Australian gambling giant Tabcorp is preparing to launch its latest pari-mutuel betting product, Exact 2nd.
Harnessing merged pool technology provided by Nasdaq, Exact 2nd asks punters to select a horse to finish second. The product has been approved as a standalone bet by the country’s two major racing states of New South Wales (NSW) and Victoria.
However, no firm release date has been given for its launch as additional technical work and regulatory approvals are required, Tabcorp confirmed.
The takeout, or commission, on this type of bet would be 14.5%, which is on a par with the win bets on the SuperTab and NSWTAB.
The creation of Exact 2nd comes six months after the Melbourne-based operator launched its Odds & Evens product in a bid to appeal to a younger generation of bettors.
A Tabcorp spokesperson said: “Merged pool technology allows us to offer additional pari-mutuel bet types, as we have done with Trio and Odds & Evens.
“Exact 2nd, which would require the customer to select a runner to finish second, is another potential new tote bet offered via merged pool technology.”
Last year, Tabcorp integrated Nasdaq’s merged pool betting technology into its existing tote betting technology.