Australian players will have the chance to increase their potential winnings on racing bets through Odds Boost, a new daily feature launched in the country by Ladbrokes.

Odds Boost allows customers to select any runner in a thoroughbred, greyhound or harness racing event then increase their winnings by applying the feature. It can be applied to any runner, increasing the price on that particular participant.

This will allow customers to get better returns even when betting on the favourite in a race, or score longer odds on an outsider for the chance to win an even larger sum.

It is the latest innovation to be rolled out by Ladbrokes’ Australian subsidiary. The company has previously launched a number of unique products and services such as Colossus Bets’ jackpots for Australian Rugby League and National Rugby League Games, as well as a customer card that allows bettors to immediately access their winnings.

Similar to daily rewards in social games, Odds Boost will be available to players every day, with the feature reset at midnight. It cannot be rolled over to a new day, and players’ accounts are only topped up if the feature has been used the previous day.

Odds Boost can be found on the online bet slip, allowing players to easily apply it to their betting selection.