British Racing Fans Set for New Betting Options With Colossus Bets

British racing fans will soon have new ways to bet at some of the country’s leading course thanks to a new deal with Colossus Bets.

British Racecourses Colossus Bets

British Racecourse and Colossus Bets will work together to bring a new style of betting to racing venues across the UK. (Image: Softeis/commonswiki)

Announced on August 17, the partnership between British Racecourses and Colossus Bets will bring new pool betting innovations to live punters across the UK.

British Racecourses is the representative for 54 venues across the country and its new deal will filter a wave of big money jackpots and online-style betting options throughout its network courses.

A New Wave of Betting Options

Described as a “sleeping giant” by Colossus Bets’ COO David O’Reilly, pool betting allows participants to contribute to a communal pot which is then divided up between those that have made correct picks. Although pool betting isn’t a new concept, Colossus Bets’ technology brings some unique twists to proceedings.

Instead of prizepools being dependent on the number of participants and buy-in amount, Colossus Bets has added guaranteed jackpots to its platform. On top of this, the operator also offers consolation prizes for those that just miss out on picking a selection of winners.

The final innovation Colossus has rolled out across its platform is cash out opportunities. This feature allows players to quit a bet early and receive a partial payout based on the current state of the bet.

These provisions are will soon be available in venues represented by British Racecourses in three main forms: on-course betting terminals, a remote betting platform and through third-party operators, including Colossus Bets own site.

Options for Punters and Broadcasters

The exact date of when the new pool betting options will be available hasn’t been set, but Nigel Roddis, Managing Director of the British Racecourses, believes it will benefit both punters and the sport. As well as the new technology giving customers new ways to ante-up, Colossus Bets’ syndicate feature could make TV coverage more exciting.

In simple terms, a syndicate allows multiple players to invest in a single entry into a jackpot game. One person is designated as the “captain” of the syndicate and it’s their job to bring investors in to help meet the cost of the entry.

Discussing what’s essentially a form of crowdfunding, Roddis said that famous racing pundits, jockeys and TV personalities could all head up syndicates and advertise them publically across various media platforms.

“It will be exciting and fun and should provide our Racing TV channels with compelling content,” Roddis said in an official press release.

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