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.

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
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. There has been an official price fluctuation or 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