Greyhound Racing Victoria (GRV) have today announced they with be the first state regulator to adopt Minimum Bet Limits (MBL) on greyhound races in Australia.
The new MBL laws come in to force on the 1st August 2018, and compel every wagering service provider that is licensed with GRV to accept bets to up to $750 on city, and $500 on TAB racing win bets.
The move follows the successful introduction of MBL's in horse racing betting and harness, while greyhound racing authorities have been slow to embrace limits despite the fact they are seen to encourage turnover and betting.
The announcement from GRV comes on the same day South Australia thoroughbred racing announced it would adopt MBL laws, leaving just Western Australia as the sole Australian horse racing state not to introduce MBL laws.
In contrast, Victoria is the only state to embrace those who bet on its dog racing, by becoming the first to implement greyhound racing minimum bet limits.
From the 1st August 2018 all approved licensed wagering service providers will be required to accept a fixed-odds bet at odds that are publicly displayed by the bookmaker for Victorian greyhound races, according to the limits:
- Metropolitan Victorian Greyhound Races – In any one Win bet: to lose $750
- Non-metropolitan Victorian Greyhound Races – In any one Win bet: to lose $500
The MBL rules mean that approved bookmakers and the TAB's cannot refuse a fixed-odds bet, close a person's account or lay lesser odds than the displayed odds; and must accept bets to lose the required amounts. The conditions apply to Win bets only and punters who live in Australia.
The current list of wagering service providers licensed with GRV is:
- Best Bet
- Favourit Australia
- Ladbrokes (Betstar)
- Mad Bookie
- Sport Champs
- Top Sport
- William Hill Australia
- UBET QLD, Tas, SA, NT
- TAB VIC, NSW, ACT
Provided the wagering service provider's annual turnover on Victorian greyhound is over $3Million, the above list of bookmakers must not:
- refuse to accept a fixed odds bet
- close a person's account
- refuse to open a person's account
- place any restrictions on a person's account in relation to Victorian greyhound racing
- refuse to lay a fixed odds bet to any person when those fixed odds are publicly displayed
- laying lesser odds to a person than those publicly displayed
- perform any other act or refuse to do an act in order to avoid these provisions
To claim a greyhound bet under MBL laws, the bet must be a win bet, and must be made placed within two hours of the first race of the meeting and up until start time of the race.
While it is disappointing the greyhound MBL has been adopted at a lower limit to that of the $1,000 MBL on horse racing; GRV must be congratulated for recognising that betting turnover is what drives industry revenue, and for making an effort to encourage betting on their dog races.
While other states navel gaze on wagering, and NSW turns itself in knots on every issue; Victoria has ensured serious punters will preferentially target their greyhound races as betting opportunities by passing these laws that bind their online bookmakers and wagering partners to accept punters bets.