Introducing the Octafecta – Kentucky debuts new jackpot betting type

A new betting product has been launched at Turfway Park in Kentucky which requires punters to select the first eight home in a race.

Nicknamed the “octafecta”, it will be first used on Wednesday, featuring a $1 minimum bet and 22 percent takeout.  The wager requires a minimum field size of 10 horses.

TwinSpires, the advance-deposit wagering company owned by Churchill Downs Inc., will offer a US $250,000 bonus to a single winner.

“TwinSpires is excited to promote an exciting new wager type available at Kentucky Thoroughbred tracks,” TwinSpires vice-president of marketing Evan Morris told Horse Racing Nation.

“The Jackpot 8 is a high-upside bet designed for everyone – no deep racing knowledge required. With an easy entry point and large jackpot on the line, we see this as a genuine opportunity to attract new fans to the sport.”

The bet will jackpot across different Kentucky tracks, which means it could theoretically carry a massive pool into Kentucky Derby day in May.

New South Wales racing used to have a bet called the superfecta which required picking the first six home in a race.