bet365 launches new Position Payout offer for horse racing
Launched in July, the Position Payout is a simple new way of betting, something of a modern twist on each-way wagering, with bet365 offering payouts on specific finishing positions.
Of course, there will still be the traditional outright markets where you can back horses in straight win or each-way bets.
But now, with the Position Payout, each runner will display a return amount – depending on the users' stake – for finishing first, second, third, fourth and so on (depending on how many places are on offer). And the higher the finish, the more you win.
If you already have a bet365 account, check out more free bets from the UK's best betting sites, reviewed by our experts
How to use the bet365 Position Payout
Interested in trying the bet365 Position Payout? You just have to follow these steps:
Load up the bet365 website or app
Go to any horse race that offers the Position Payout market
Place your chosen bet(s)
If you're into betting, why not try out the best horse racing sites while you're here?
Example of the Position Payout
4.38 Pontefract – August 6, 2025
Traditional outright market
bet365 – each-way 1/4 odds, two places
New York Minute (5/4)
£5 each-way bet would return:
Win – £17.81 (£7.81 profit)
Place – £6.56 (£3.44 loss)
Unplaced – £0.00 (£10 loss)
Position Payout to £10 stake (which is the default setting)
1st – £16 (£6 profit)
2nd – £10 (stake returned)
Unplaced – £0.00 (£10 loss)
Key bet365 Position Payout terms
Ahead of getting involved in the bet365 Position Payout and looking to take advantage of this new betting angle, you should consider the following terms:
Position Payout is available pre-race on selected UK and Ireland horse racing from 10am UK time on the day of the race
For selected Australia and New Zealand horse racing, Position Payout will be available pre-race from 1am UK time on the day of the race.
For horse racing from North America, South America and International meetings, Position Payout will be available pre-race on selected meetings one hour before the start of the first race at each meeting, where fixed prices are available.
In the event of a horse within a Position Payout race becoming a non-runner at odds of 5.75 or greater, your bet will stand at the original price. If the non-runner is at odds of 5.50 or less, then your bet will be recalculated in line with prices at the time of withdrawal.
Check out the bet365 bonus code to claim your free bets
Pros and cons of the bet365 Position Payout
✔️You know potential winnings for each position before the event without trying to get your head around each-way terms.
✔️Second place pays more than third, and so on, unlike each-way betting in which all placed positions pay the same, rewarding better performances from your selections.
✔️Win payout may be smaller but places can be more generous than traditional each-way (see example above).
✔️Available on multiple bets.
✔️Cash-out is available pre-race.
✔️Bet credits can be used for placing Position Payout bets (but your bet credits stake will not be included in any returns).
✔️In the event of a dead-heat, Position Payout bets will be paid out at the full multiplication value for the higher place. For example, if your horse dead-heats for third place, you will receive the full payout for the third-place multiplier.
❌Position Payout bets are not available on ante-post markets.
❌Position Payout bets will not be eligible for best odds guaranteed or odds drift protector.
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