Aussie bookies face minimum bet limit on horse racing
RacingNSW reacts to claims that successful punters are being refused bets and having accounts shut down as bookie organisation hits back
Claims that Australian customers are having their accounts blocked and bets restricted has seen the racing board of New South Wales impose a new minimum bet limit from 1 September.
RacingNSW announced today that operators with a turnover of more than AU$5m taking bets in the state will be required to lay bets to lose a minimum of $2,000 at a city meeting, while race meets outside of the city will have a $1,000 threshold.
Bookies with less than a $5m turnover must lay a bet with a minimum of $1,000 payout on all thoroughbred meetings.
No operator will be permitted to restrict a customer from placing a bet to avoid complying with the new rules, nor will they be able to close a customer’s account or refuse to open a new one.
The change will impact the likes of bet365, William Hill Australia and the Paddy Power-owned Sportsbet, however it will not apply to cash bets placed in TAB retail outlets.
Chief executive of the Australian Wagering Council Chris Downy raised concerns that the new rules would have a negative effect on competition and prices for customers.
He also questioned its enforceability of making bookies trade with punters with whom they don’t wish to trade.
“The AWC is disappointed that many of the concerns raised during the consultation process have not been addressed adequately in the formulation of the new policy,” said Downy.
A spokesman for Sportsbet also questioned the changes. “We appreciate the consultation that Racing NSW undertook in this process,” he said.
“We do however think the proposed solution is not optimal, isn’t to the advantage of the vast majority of punters and will lead to continued confusion in this area.”
However RacingNSW chief executive Peter V’landys said the changes have been made following consultation with both operators and customers.
“All punters should be able to place a legitimate bet on NSW thoroughbred races and should not be discriminated against by having their accounts closed or bets refused simply because they are successful,” V’landys said.
The AWC has also suggested that by not applying the rule to retail outlets it is “discriminatory against online, account-based bookmakers”.
“If one of the aims of the policy is to stop bookmakers discriminating against winning punters, it is necessary to ask how that aim will be achieved by excluding the policy’s application to cash bets?” Downy said.