Minimum Bet Limit

Racing Victoria (RV) has implemented a Minimum Bet Limit (MBL) policy that will apply to approved Wagering Service Providers (WSPs) betting on Victorian thoroughbred races from 1 October 2016.

RV announced in May 2016 its intention to implement an MBL before undertaking comprehensive stakeholder consultation to determine the most appropriate framework. Responses were received from 480 stakeholders including punters, WSPs, industry participants, media and regulators.

While each segment offered tailored views, there was a fundamental acceptance of the MBL framework implemented by Racing NSW in 2014 and a desire that this be matched by RV for consistency.

Having considered the feedback, RV has determined that its MBL will largely mirror that currently offered to punters wagering on NSW thoroughbred races.

The MBL on Victorian thoroughbred races will apply from 9am (AET) raceday for day meetings and 2pm (AET) raceday for night meetings and allow punters to win up to $2000 on any one metropolitan win bet and $1000 on any one non-metropolitan win bet.

If you have a complaint about the Minimum Bet Limit as introduced by Racing Victoria please fill out the form here.

Click here to fill out the MBL form.

Betting Limits
Approved WSPs will be required to accept a fixed odds bet at odds which are publicly displayed by the approved WSP for any Victorian thoroughbred race to the maximum amount specified as follows:

Metropolitan Victorian Thoroughbred:
  • In any one Win, Win/Place or Each-way bet: to lose $2000
  • In any one Place bet: to lose $800
Non-metropolitan Victorian Thoroughbred:
  • In any one Win, Win/Place or Each-way bet: to lose $1000
  • In any one Place bet: to lose $400
An approved WSP must not do any act or refuse to do any act to avoid complying with the bet limits, including but not limited to:
  1. Refusing to accept a fixed odds bet
  2. Closing a person’s account
  3. Refusing to open a person’s account
  4. Placing any restrictions on a person’s account in relation to Victorian thoroughbred racing product
  5. Refusing to lay fixed odds to any person when those fixed odds are publicly displayed
  6. Laying lesser odds to a person than those publicly displayed
  7. Any other act or refusal to do an act in order to avoid these provisions
Exclusions 
An approved WSP will not be required to comply with the MBL obligations if:

1. The customer is not domiciled in Australia

2. The bet is a betting transaction on a betting exchange

3. The customer has not provided the approved WSP with sufficient funds to pay for the bet

4. The bet is placed prior to 9am (AET) on the day of the Victorian thoroughbred race or 2pm (AET) for a night race meeting

5. The bet forms part of a multi bet

6. The bet is a retail betting transaction

7. An approved WSP reasonably suspects the customer placing the bet is not the beneficial owner of the bet or the account is being used in violation of the WSPs account terms and conditions, where the suspicion can be reasonably validated by the WSP through public records, IP address tracking, unique device tracking, etc.

8. The person is acting as agent or nominee for a third party and the person placing the bet will not be beneficially entitled to the whole of the proceeds of the Relevant Fixed Odds Bet with the Approved WSP

9. The person is on a relevant gambling self-exclusion register

10. The customer has not yet met the required account identification and verification processes and thus the approved WSP cannot meet their obligations under The Anti-Money Laundering and Counter-Terrorism Finance Act 2006 (Cth) or any responsible gambling legislation.

11. An approved WSP has previously closed the customer’s account because:

i. the customer engaged in activity which breached a material condition of the agreement with the WSP, unless the dominant purpose of such condition was to allow the WSP to avoid complying with the MBL conditions; or
ii. there were other reasons that in the WSPs assessment, acting reasonably, raised material integrity concerns.

12. The customer has been warned off or disqualified, engaged in fraudulent activity or there are other reasons that in RV’s assessment, acting reasonably, raises material integrity concerns

13. The WSPs own price fluctuation has changed

14. An approved WSP has already accepted a bet(s) from an eligible customer to the aggregate amount of the MBL

15. The customer placing the bet is, or is associated with, an employee of a licensed Australian WSP and there is a reasonably held belief that the bet is based on betting information (including but not limited to betting trends and bets placed with that licensed Australian WSP) that is not publicly available

16. The customer has been restricted to betting via a specified platform (e.g. telephone) arising from reasonably held concerns by the WSP as to robotic or systematic use via other platforms/channels

17. The bet is contrary to the Australian Rules of Racing and the Victorian Local Rules and Betting Rules and/or relevant laws

18. The situation where there are systematic multiple identical (or similar) bets from related/connected parties or from the same IP address

19. Where a customer is betting from, or a bet is received from, a proxy server

20. The bet was a promotional bet such as a bonus bet or free bet, where the customer has not provided payment for the stake

21. RV publishes other exclusions or changes to the MBL framework on its website which will be amended as required

22. Unauthorised scraping of a WSP’s website
When do the Minimum Bet Limit conditions commence?
The conditions commence on 1 October 2016.
Who must comply with the conditions?
All approved off-course Australian wagering operators who are approved to use Victorian thoroughbred race field information (excluding Victorian on-course bookmakers).

A list of approved wagering operators is available here. Note that the minimum bet limit conditions do not apply to interstate on-course bookmakers that operate on Victorian thoroughbred racing. The conditions applicable to Victorian licensed on-course bookmakers are available here.
Do the conditions apply to races held in Victoria only?
Yes. The conditions apply to fixed odds bets on Victorian thoroughbred races. This will include telephone and internet bets placed on Victorian thoroughbred races, but exclude bets placed in a retail outlet.

Racing NSW has similar conditions which apply to fixed odds bets on NSW thoroughbred races.
What are the betting limits imposed under the conditions?
The MBL conditions are included under the RV Race Fields Policy and are available on the Racing Victoria website here. Approved Australian off-course wagering operators are required to lay the odds displayed for fixed odds bets to the limits below:

 Race Type  Bet (Win, Win/Place or Each Way)  Bet (Place Only) 
 Metropolitan Victorian Thoroughbred races  $2,000  $800
 Non-metropolitan Victorian Thoroughbred races  $1,000  $400
Why does the Minimum Bet Limit not apply to Victorian on-course bookmakers?
Victorian licensed on-course bookmakers already have minimum bet limit requirements, outlined in the Rules of Race Betting on the Racing Victoria website. From time to time these requirements may be amended.

Note that the minimum bet limit conditions do not apply to interstate on-course bookmakers that operate on Victorian thoroughbred racing.
Why doesn't the minimum bet limit apply if my bet is with an unlicensed wagering operator?
Customers who choose to bet with an unlicensed wagering operator expose themselves to many risks as these operators are not bound by Consumer Protection laws. The minimum bet limit policy only applies to transactions with licensed wagering operators approved to use Victorian thoroughbred race field information outlined in question 2.
Do the conditions apply to multi bets?
No. The calculation of multi-bets, where some of the legs are not related to fixed odds bets on Victorian thoroughbred product could be complex. For this reason, multi-bets have been excluded.
How many bets is a wagering operator obliged to accept to the limit from a punter?
Wagering operators are only required to bet to the limit once per horse for each customer for each race. This could be one fixed odds bet to the limit or a number of fixed odds bets which together add up to the limit.No. The calculation of multi-bets, where some of the legs are not related to fixed odds bets on Victorian thoroughbred product could be complex. For this reason, multi-bets have been excluded.
Can i attempt to bet more than the limit?
Yes. An operator is obliged to accept a bet up to the minimum bet limit amount (subject to the exclusions), however, they may be prepared to accept more than the minimum bet limit.
What price does a wagering operator have to bet each punter?
All punters are entitled to the price publicly displayed in the wagering operator’s latest betting market on their website or app. The only time a changed price can be offered after a punter places a bet is if the official Victorian Official Price (VOP) had just changed or another bet has been layed at the original price and the wagering operator is adjusting the price, which will flow through to their website or app. Time log records can be checked to confirm this process.
What type of bets do the conditions apply to?
The conditions only apply to fixed odds Win, Win & Place, Each Way or Place bets on Victorian thoroughbred races. They do not apply in respect of bets placed as part of a betting exchange. They also do not apply to free bets or bonus bets, derivative bets such as best tote or exotic bets such as quinellas and trifectas. Bets which do not have a determined return at the time of placing a bet (e.g. Top Fluc or SP) are also excluded.
Can a wagering operator close an account, refuse to open an account or place limitations on an account to avoid accepting a fixed odds bet to the limit?
No. Wagering operators are not to take actions such as closing a punter’s account, refusing to open a punter’s account or placing restrictions on a punter’s account solely to avoid complying with the minimum bet limit conditions.

However, wagering operators are still able to take such actions for legitimate reasons including bowlers (persons betting on behalf of other persons), responsible gambling practices, fraudulent activity, money-laundering and other integrity-related reasons such as the punter being warned off or disqualified or where Racing Victoria is satisfied that the reason the Approval Holder has not complied properly falls within the Racing Victoria list entitled “Further reasons where an Approval Holder is not required to comply with clauses 12.1.1 and 12.2.1” as published on its website and amended from time to time.
Do the conditions apply to pre-post betting?
No. The minimum bet limit conditions apply to fixed odds bets placed after 9am on the day of the race or 2pm for night race meetings.
Do the conditions apply to bets in a retail outlet?
No. At this stage, the minimum bet limits will not apply to bets placed in retail outlets (regardless of whether cash or account betting), including interstate and Victorian TAB agencies, hotels, clubs and pubs, primarily due to the difficulties associated with determining whether a bet in a retail outlet is a bowler bet placed on behalf of another person.
Is the wagering operator obliged to extend credit to a punter to make a bet to the limit?
No. If the punter does not have sufficient funds to pay for the bet, the wagering operator is not obliged to accept the bet.
What should a punter do if they have a complaint?
At first instance, punters who believe that a wagering operator has refused their bet or excluded them in contravention of the minimum bet limit condition should contact the wagering operator to ascertain the reason for the refusal or exclusion.

If the punter remains unsatisfied with the reason provided by the wagering operator, and they do not fall within one of the exclusions listed in the conditions, then they may lodge a formal complaint with Racing Victoria by completing and submitting the complaints form found on the Racing Victoria website here.
Complaints will only be accepted and investigated following submission of a fully completed complaints form. Rude, abusive or offensive submissions will be disregarded.

A summary of the formal complaints process can be found here.
How long does a punter have to lodge a complaint with Racing Victoria?
Within 14 days of the date of the incident that is the subject of the complaint. For example, from the date the bet was rejected, the date of the account closure or the rejection of the opening/reopening of an account. This can be extended if the punter has contacted the wagering operator and not received a response.