Racing Queensland plans minimum bet limit for wagering service providers

RACING Queensland is set to follow the lead of NSW and Victoria by introducing a minimum bet limit for wagering service providers later this year.

Racing Queensland is set to introduce a minimum bet limit for wagering service providers later this year. Picture: Tim Marsden

RACING Queensland is set to follow the lead of NSW and Victoria by introducing a minimum bet limit for wagering service providers later this year.

Racing NSW was the first jurisdiction to introduce the rule, which forces bookmakers (wagering service providers, or WSPs) to bet all punters to lose a minimum amount.

The rule was brought in to counter the growing number of punters who were being restricted by corporate bookmakers. The minimum amount they need to bet to lose is $1000-$2000 (depending on the status of the meeting) and it applies from 9am on racedays and bookmakers have to show valid reasons (for example, integrity reasons) in order to refuse a punter the bet.

Racing Victoria is in the process of introducing a similar structure, but their proposal has been criticised for being too “watered down”.

Punters have taken issue with the clause saying the rule will only apply from 30 minutes before a race and will close two minutes before start time.

“No serious professional money will exist in the fixed odds market place in the years to come if these petty rules are introduced. Open the marketplace up and let everyone bet,” professional punter Kingsley Bartholomew wrote in a submission to Racing Victoria.

Debate is ongoing.

Racing Queensland’s acting chief executive Sam Adams indicated a minimum bet rule could form part of the new Race Information Fee negotiations with WSPs, due by November 1 this year.

“Imposing minimum betting limits will be considered as part of Racing Queensland’s Race Information fee conditions for the next period,” Adams said.

Originally published as Racing Queensland plans minimum bet limit for wagering service providers