SBC News Voice of the Sports Betting Industry
The Australian Wagering Council has hit out at Racing NSW for implementing new minimum bet rules on wagering service operators.
The group, which called for a freeze on the proposal last month, said the condition means online bookmakers will stand to lose a minimum amount on any single fixed odds wager on NSW Thoroughbred races, and criticised the policy as being “delivered via press release”.
Chief Executive Chris Downy said his members only learned of the proposed changes when they read about it in a press release six weeks ago. “The AWC is disappointed that many of the concerns raised during the consultation process have not been addressed adequately in the formulation of the new policy,” he added.
From 1 September, the clause means online bookmakers with a turnover of more than $5M (£2.8m) a year will be required to stand to lose a minimum amount of $2,000 (£1106) (Metropolitan) and $1,000 (£553) (Non-Metropolitan) on any single fixed odds wager on NSW Thoroughbred races. Approval holders have also lost their right to turn down a fixed odds bet, although there are strict conditions where refusal is permitted.
