Can Cash Out work in horse racing?

Can Cash Out work in horse racing?

Wednesday, March 22, 2017 Posted by Sam Cooke
BetVictor's Eoin Ryan talks to TotallyGaming

Ahead of Cheltenham this year BetVictor launched a new product for horse racing fans - the horse racing cash out.

This allows its customers to cash out on win and each-way outright singles and accumulators across platforms. The launch went out just a day after BetVictor announced its headline offer for this year’s Cheltenham festival which saw customers who bet £10 receive a £2 free bet on every race for the duration of the four-day meeting.   Horse Racing Cash Out is the latest in a series of horse racing products from BetVictor, a company which launched the in-house creation Betfinder and Lengthen The Odds in 2016.

BetVictor Head of Sportsbook Product, Eoin Ryan, said: “Cash Out is proving to be one of the most popular features at BetVictor and with the introduction of Horse Racing Cash Out just in time for the Cheltenham Festival, we have no doubt that this will become a hit with our customers.

“Featuring smart notifications such as Best Odds Guaranteed, Rule 4 deductions and other important updates on your bet, BetVictor’s Horse Racing Cash Out will give our customers all the information they need to make that crucial Cash Out decision.”

Speaking exclusively to TotallyGaming, Eoin Ryan said of the general usage of cash out: “Approximately one third of our football customer used Cash Out  in 2016. Regarding education, I think it’s very important that we continuously educate new and existing customers about Cash Out. Cash out features within our new customer on-boarding journey and for both new and existing customers  we campaign extensively around any new Cash Out features or refinements that we regularly launch.

“As a product, there is a fair level of knowledge that already exists thanks in a large part to some very high profile TV ad campaigns for the product feature but it’s a continuous process and will only ramp up as the betting operators continue to innovate in this area.”

As to the anticipated differences in cash out with horse racing as opposed to football, Ryan continued:

“It’s fair to say that we wouldn’t expect Horse Racing Cash Out to be as heavily used as Football Cash Out. There is a relationship that exists between football accumulators, particularly 4 folds+, and Cash Out - and the simple fact is that horse racing accumulators of 4 folds+ are a much smaller part of our business mix.

“What we are already seeing is good levels of usage in horse racing in terms of each-way doubles and trebles and at this early stage I would say that these bet types are where most of the demand will be within horse racing.”

Totally Gaming says: Just how popular cash out will ever prove in horse racing is up in the air, it’s unlikely to ever match its popularity in football but it’s yet another new and innovative feature for BetVictor punters.

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