Racing NSW was the first governing body to introduce MBL laws for horse racing, with the first version coming into force on 1 September 2014. Racing Victoria followed suit in October 2016, confirming the standard win/spot limits at $2,000/$800 for metro races and $1,000/$400 for campaign races. A minimum wagering limit (MBL) determines the lowest amount a player can wager to win before a bookmaker is allowed to reject a bet. These limits apply to the amount a player can win without the initial bet. The Northern Territory had minimum betting rules long before New South Wales arrived in 2014. However, lawmakers in the territory withdrew the MBL`s terms in 2013 after online bookmakers complained that they were bleeding money from professional players. For example, let`s say the minimum wagering limit for a single bet on a horse race is €2,000. If a runner`s odds of winning are $5, we can put up to $500 on our nose for a total of $2,500 and a net gain of exactly $2,000. tasracing.com.au/minimum-bet-limit-introduced-tasmanian-thoroughbred-racing MBL laws can apply to three different breed types: thoroughbreds, harnesses and greyhounds. Most states also have different limits for big-city rides and off-metro meetings. While these betting sites are not available to Australians, some international race betting sites have set up wagering limits, including 888Sports, Betway, and William Hill.
Australia`s third most populous state followed the Victorian model when it introduced minimum betting limits for horse racing in early 2018. Queensland has also been a pioneer in the MBL`s rules for greyhounds and trotting racing, which came into effect in mid-2019. Keep in mind that MBL rules are guidelines on how much bookmakers can lose before they start pushing bets back. If you want to increase the bet, nothing prevents a bookmaker from accepting a bet that exceeds the minimum bet limit. So if the MBL is $2,000 and you suggest a bet that would earn you more than that, the ball is in the bookmaker`s court. Betting operators are not allowed to take any action, such as closing a player`s accounts, refusing to open a player`s account, or restricting a player`s account simply to avoid complying with wagering requirements. However, bookmakers are still able to take such action for legitimate reasons, including undisclosed bowlers (people betting on behalf of others), responsible gambling, fraudulent activities, money laundering and other reasons related to integrity, such as warning or disqualifying the player. For Western Australian Thoroughbred events, the following minimum bet for bets placed via the account will apply after 9:00 WST on race day for daytime meetings or 14:00 WST on race day if the first race of the meeting is 16:00 WST or later. GREYHOUNDS: New South Wales greyhound events have the following minimum wagering levels for bets placed within two hours of the scheduled start time of the opening race of the meeting. Metropolitan NSW Greyhound Race – Group 1 Final Field Race and Million $ Pursuit Final: $2,000 (*Seat Component $1,000)Metropolitan NSW Greyhound Race – All Other Races: $750 (*Seat Component $375) Queensland followed the Vics 11 months later and introduced a minimum victory limit of $500 for all QLD greyhound races from June 1, 2019.
HARNESS: For Victorian Harness events, the following minimum bets apply for bets placed via the account within one hour of the scheduled start time of the opening race of the meeting. Metropolitan, win only: $Non 1,000 Metro, win only: $500 For Victorian Thoroughbred events, the following minimum bets apply to bets placed via the account after final acceptance: – This forces online bookmakers to cash out decent sums and also encourages players to bet on the Tote instead of fixed odds. Previously, a bookmaker would simply deactivate an account that was considered a liability for the company. With the minimum wagering limit, accounts cannot be deactivated and players can win a significant amount. MBL information comes from help.tabtouch.com.au/knowledge-base/mbl-minimum-bet-limit/ If a bookmaker covers horse racing in states where minimum wagering limit laws apply, the terms of its gambling license dictate that it must comply with MBL rules. Therefore, the vast majority of online bookmakers in Australia are subject to betting limits on horse races and greyhounds. The trusted bookmakers listed below are all MBL compliant in ACT, NSW, SA, QLD, TAS and VIC. Interestingly, the Western Australian government has taken a different approach to minimum betting legislation in other Australian states. Unlike laws in other states, WA`s minimum bet legislation does not divide minimum bet limits according to whether the meeting is metropolitan or non-metropolitan. For example, bookmakers still have to bet on the $2,000 limit on rural railways such as Bunbury, Kalgoorlie and Pinjarra. These laws were introduced to combat the tendency of corporate bookmakers to prevent players – especially successful ones – from making big bets with fixed odds. If a player wins regularly, the bookmaker will close their account without notice.
With the introduction of betting laws in Western Australia, the best players in the country can bet freely in any state in Australia except the Northern Territory. In my view, the lack of minimum deployment legislation in Western Australia in recent years has created a very robust and inefficient market. It will now be interesting to see how the market develops with the introduction of minimum betting laws. For trotting races, only bets with fixed odds are covered by the minimum wagering limit. As with thoroughbreds, the rules only apply to bets placed after 9am on race day and 2pm for night meetings. Minimum wagering limits are a boon for many players in Australia, especially those who are successful. While the exact minimum betting limits for horse racing vary from state to state and territory to territory, these laws ensure that players can compete anywhere in the country. Let`s review the minimum betting limits for horse racing set by each state racing authority and explain how they apply to the average player. VICTORIATHOROUGHBREDS: For Victorian thoroughbred events, the following wagering levels apply to bets placed via the account after 9:00 AEST or AEDT (as applicable) on race day for daytime meetings or 14:00 AEST or AEDT (as applicable) on race day for night meetings.
Metropolitan: $2,000, (* seat component $800)Prov/country: winning bet of $1000 (* seat component $400) Since betting sites are an important part of the Northern Territory`s economy, the territory`s racing rules tend to favour bookmakers over players. It`s also worth noting that the Northern Territory`s racing industry is the smallest in Australia, so the lack of minimum betting laws isn`t a big deal in the grand scheme of things. A betting rule simply states that each bookmaker must accept each customer`s bets in order to lose at least $2,000. So if the odds for an event is $2, a player is allowed to bet a maximum of $2,000 on it, if the odds are $11, they can bet a maximum of $200. This should be the basis for important types of bets such as head-to-head betting, online betting, and total betting. This is a very simplified example and other types of bets would have lower limits, but it is a good place to start. The minimum betting limits introduced in South Australia in July 2018 for thoroughbred races are similar to those in Victoria and Queensland. This is no coincidence, as Racing SA has taken care to create further inconsistencies in policy from one state to another. These laws were introduced for a simple reason: bookmakers would no longer have the right to reject a player with a winning record.
Corporate bookmakers are notorious for turning away successful players and pushing back big stakes, but the minimum wagering limits ensure that anyone eligible to have a bet can do so. Minimum deployment laws are now in force in six of Australia`s eight states and territories, with the Northern Territory and Western Australia being the only exceptions. With the recent changes to betting laws, we thought we`d give you a breakdown by state to make it easier for players to know their rights. In August 2018, Victoria became the first Australian state to introduce minimum betting limits for greyhound racing. The rules only apply to winning bets, with minimum caps of $750 for Metro races and $500 for country races. The Northern Territory and Western Australia are the only two places where there are no minimum wagering limits. It is important to understand that each state`s MBL rules only apply to fixed odds bets in winning, placed and two-way markets. In some states, such as New South Wales, minimum wagering limits may cover winning and placed bets, but not pure bets. A minimum wagering rule results in a much higher turnover and therefore higher taxes paid by Australian bookmakers. Prior to 2014, the Northern Territory was the only region where online bookmakers had minimum wagering limits. However, these were lifted in 2013, meaning there was no protection for players in Australia. Minimum Betting Laws (MBLs) are a boon for Australian players, especially those who are successful.
Without minimum betting laws, online bookmakers could choose which bets they would accept. www.racing.com/news/2018-07-03/sa-introduces-minimum-bet-limit Without MBL laws, online bookmakers were allowed to choose which bets they would accept.