Racing Victoria Mimics New South Wales Minimum Bet Policy
In an attempt to make the bookmakers play fair, which could have the unintended, or perhaps intended, consequence of causing them to fold their tents and move on; Racing Victoria has copied Racing New South Wales and will duplicate the NSW Racing minimum bet policy beginning on October 1.
Racing NSW inaugurated a minimum bet policy in 2014 that dictated that bookmakers must permit punters to wager to win up to $2,000 on metropolitan races and $1,000 for provincial races.
The details of the rule state that beginning on October 1, Racing Victoria must duplicate the policy. The move is seen as an attempt to foster consistency in wagering between races in NSW and those in VIC.
The move comes not long in advance of the major races of the spring carnival.
Racing Victoria still has some details to iron out, such as a compliance dispute resolution procedure and potential penalties for bookmakers found to be non-compliant with the new rule.
While in theory, it may sound lovely to be able to be permitted to win one or two thousand dollars depending on race venue, that permission comes with the obligation to make the correct selections.