UBET’s fixed odds freeze targets professionals but angers racegoers

PUNTERS are crying foul, while wagering provider UBET claims it is merely trying to meet its obligations to the industry and shareholders in the wake of a fixed odds row that has erupted.

Sport Bcm 22.10.14 - Jane Anderson from Cystic Fibrosis recieves cheque from Brad Tamer from TatsBet - pic Adam Smith

PUNTERS are crying foul, while wagering provider UBET claims it is merely trying to meet its obligations to the industry and shareholders in the wake of a fixed odds row that has erupted.

Punters have complained in recent times that UBET has switched off its fixed odds product in certain venues.

The situation occurred at the Albion Park harness meeting on Friday, where fixed odds on all races was unavailable to patrons for a number of hours.

Robert Davies was among the punters at Albion Park on Friday and claimed he and others in his group were told to walk across the road to the Breakfast Creek Hotel to place a fixed odds bet.

“I will never go back to the trots again,” Davies said. “As soon as the last gallop race was over, the (attendant) said fixed odds is back on. It’s disgraceful what went on. There’s no incentive to go to a racetrack.”

It is understood turnover at Albion Park through the week skyrocketed on normal levels and by Friday, UBET had made the call to ‘‘switch off’’ its fixed odds betting.

UBET alleges there has been a group of 10-15 punters placing fixed odds bets simultaneously on the same horse at TAB venues on behalf of professional interstate punters.

“They are all part of the same group,” UBET spokesman Brad Tamer said. “We are happy to take people’s bets, but we have to manage expectations of returns to the racing industry.

“We are happy to deal with these people one-on-one, but it makes it hard to make a book when you have a team of people backing the same horse at exactly the same time.

“Enough is enough. You can’t get this (money) on anywhere else. We have to protect everyone involved. If the guys want to come to us legitimately, then we are happy to deal with them.”

Tamer said UBET had reviewed its risk management tools and there will be changes made to the current system. “We … are happy for people to get on, but not 10 to 15 fold,” he said.

Tamer admitted there would be some punters inconvenienced by the blackouts but said punters with an online account can bet at any time.

“We want to service people who want to bet,” Tamer said.

It is understood the situation is not one isolated to UBET. For some time, corporate bookmakers have been known to limit certain clients.

Originally published as UBET’s fixed odds freeze targets professionals but angers racegoers