Australian betting operator Tabcorp Holdings has launched a new merged pool betting product for its pari-mutuel betting customers.

Powered by Nasdaq’s Longitude technology, the new Trio betting type allows customers to select three horses to finish first, second and third in any order.

The Longitude technology offers an enhancement to the tote betting system that allows multiple bet types to be merged into one pool.

“We’re committed to bringing the best possible products to our customers and believe Trio will be loved by punters,” said Andy Wright, executive general manager of wagering, TAB. “It’s the first of many exciting opportunities made possible by our merged pool technology and we look forward to unveiling more new bet types in the future.”

Nasdaq head of Longitude and new markets, Scott Shechtman, commented: “In launching Trio with our merged pool technology, Tabcorp is providing its customers with an innovative betting type that makes efficient use of existing liquidity and greater transparency for the market.

“We look forward to supporting Tabcorp’s innovation as they continue to enhance the customer experience by creating new pari-mutuel betting products over the coming years.”

Shares in Tabcorp Holdings Limited (ASX:TAH) closed 1.95 per cent higher at AUD$4.71 per share in Sydney Monday morning.