Racing Victoria’s minimum bet rule will take affect from Saturday’s Caulfield meeting in which bookies will be required to take bets to win up to $2,000 on metro races and $1,000 on country races.
A Minimum Bet Limit (MBL) policy applying to all approved off-course Wagering Service Providers (WSPs) betting on Victorian thoroughbred races will take effect from tomorrow’s race meeting at Caulfield.
Racing Victoria (RV) announced in May 2016 its intention to implement an MBL before undertaking comprehensive stakeholder consultation to consider the most appropriate framework.
RV then announced on 1 September 2016 that the consultation process had determined that its MBL will largely mirror that currently offered to punters wagering on NSW thoroughbred races.
From 1 October 2016, an MBL will apply on Victorian thoroughbred races from 9am (AET) raceday for day meetings and 2pm (AET) raceday for night meetings.
The MBL will be available to punters betting on Victorian thoroughbred races with approved off-course WSPs online or via telephone and will allow them to win up to the following amounts:
Metropolitan races – $2000 on any one win bet, $800 on any one place bet
Non-metropolitan races – $1000 on any one win bet, $400 on any one place bet
It is a condition of RV’s Race Fields Policy that all approved off-course WSPs comply with the MBL.
For any instances in which punters believe that the MBL has not been correctly applied by a WSP, outside the stated exclusions of the framework, punters are required to first contact the WSP to seek a resolution.
RV has developed a formal dispute resolution process for any complaints that cannot be resolved between the punter and WSP.
In such instances, punters are required to complete an online MBL Complaint Form within 14 days of the incident that is the subject of the complaint. The WSP will then be afforded an opportunity to respond. If a resolution cannot be achieved between the punter and WSP, then RV will make the ultimate determination.