Marathonbet unveils advance-stake betting feature
Operator's new ADVANCEBET facility enables players with a zero account balance to place wagers using potential winnings from open bets
Online sportsbook Marathonbet has unveiled a new feature enabling customers to use potential winnings from outstanding wagers to place new bets but not be liable for the stake if the bet is settled as a loser.
While ADVANCEBET is not a credit facility it allows customers with a zero balance to place new bets or increase stakes on existing bets without having to top-up their accounts.
But customers will only pay back the Advancebets stake once bets have been settled and will not be liable for the stake should there be insufficient money on account after settlement.
To use ADVANCEBET, customers must have at least one open bet with the operator using the stake and price of the open bet or bets to calculate a ADVANCEBET value, which can then be used to place additional bets.
The new feature is only available on events due to start within a 48-hour timeframe, with the available ADVANCEBET balance displayed within the betslip and viewed under the My Account section.
The new feature was launched as the Panbet-owned operator continues discussions to complete betting partnership deals with a number of high-level Premier League clubs ahead of the new 2015-16 football season.
eGaming Review understands Marathonbet has recently been in talks with some of the league’s biggest clubs including Manchester United and Liverpool in deals believed to be worth approximately £5m combined.