Poll results: Minimum bet liabilities should not be enforced
Readers say Black Type model of laying a bet up to £500 isn't feasible for the entire industry
Bookmakers should not be forced to implement minimum bet liabilities, according to a slight majority of EGR readers.
The age-old debate about bookmaker restrictions and limits was reignited last week with the launch of Black Type Bet, a new bookmaker promising not to close accounts and lay customers a liability of up to £500 on UK and Ireland racing and £1,000 on major sports.
The launch of Black Type was covered on several mainstream media sites such as the Guardian, and included stories of campaigners urging the Gambling Commission to introduce similar rules for all bookies in the UK.
However, 53% of respondents to this week’s poll said bookmakers should not be forced to take bets against their will.
Bookmakers have previously told EGR that these kind of regulations, as seen in the Australian state New South Wales, for example, would force them to increase their margins, resulting in worse odds for the recreational punter.
This trade-off is evident in the Black Type model, with the bookie saying it won’t offer the âBest Odds Guaranteed’ concession on racing that is fast-becoming industry standard for major firms.
However, 47% of respondents to the poll argued bookies should be forced to take a fair bet, presumably reasoning that restrictions are alienating thousands of punters and damaging the long-term health of the industry.
The Horserace Bettors Forum recently claimed at least 20,000 accounts were closed by bookmakers in the first six months of 2016, raising fears that “the appeal of betting on horse racing is possibly being seriously eroded by the trading practices of individual bookmakers”.