WA bookmakers set to offer cash-out

Western Australian bookmakers will soon be able to offer cash-out functionality on selected bets after amendments to the state’s Rules of Wagering 2005 were approved.

The changes bring Western Australia into line with other Australian jurisdictions where cash-out products have become a standard feature of fixed-odds wagering.

Under the revised regulations, licensed bookmakers in Western Australia will be permitted to offer customers the option of settling eligible fixed-odds bets before the conclusion of an event.

The feature allows punters to either secure a guaranteed return before the final result or minimise potential losses by exiting a wager early.

The reform is designed to improve the competitiveness of Western Australian licensed bookmakers as they compete in an increasingly national online wagering market.

Despite the rule changes, bookmakers will not automatically be authorised to provide cash-out products.

Betting operators will still be required to satisfy the relevant regulatory requirements before offering the feature to customers.

The move represents a significant modernisation of Western Australia’s wagering framework and is expected to provide locally licensed bookmakers with greater flexibility in competing alongside interstate and national operators.