Australia's NSW sets minimum corporate bets

Australia’s corporate bookmakers, with wagering turnover of more than $5 million ($4.7 million), will have to bet a punter to lose $2000 at meetings on a New South Wales metropolitan thoroughbred race and $1000 at provincial and country fixtures.

The move follows claims corporate bookmakers are refusing to accept bets from successful clients.

The new rules will not apply to cash bets placed in NSW TAB retail outlets, however a bet placed using a TAB account over the telephone or internet will have to comply.

Under the terms of the minimum bet guidelines, wagering operators will not be able to close a punter’s betting account, refuse to accept a new account or restrict a punter to avoid complying with the new rules.

Corporate bookmakers say the new rules treat them unfairly.

“If one of the aims of the policy is to stop bookmakers discriminating against winning punters, it is necessary to ask how that aim will be achieved by excluding the policy's application to cash bets," the Sydney Morning Herald cited Australian Wagering Council chief executive Chris Downy as saying.

 

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