The Jockey Club will launch a new bet type on January 19, the Quartet, in the world’s first implementation of the Longitude single-pool wagering technology with its immense potential to change the future of betting.

The club confirmed persistent rumours of the Quartet’s return to its suite of betting pools – it had been discontinued in 1988 – in parallel with its launch of two stylish new public dining and entertainment areas at Sha Tin – the Hay Market and Wins Café – as part of the ongoing master plan for the racecourse.

But the re-introduction of the pool will also allow the Jockey Club to lead the world in using single-pool wagering, and president and chief executive offer of New York-based company Longitude, Tom Ascher, was on hand for the announcement.

The new Quartet will require bettors to select the first four finishers in a race, in correct order, and will be available on two races each meeting.

“Quartet will provide racing fans with a new experience and the excitement of potentially winning a handsome payout,” said executive director of customer and marketing Richard Cheung Che-kit.

“The relaunched Quartet will use the latest odds calculation computing technology provided by our partner, Longitude, which allows very rapid computation and real-time indicative dividends for such a challenging product.

“It lays the foundation for future technological developments for the club’s betting system as a whole,” Cheung said.