UK Racing Punters Face Account Closures and Restrictions; Minimum Bet Rule Proposed as a Remedy
UK racing punters are increasingly facing account closures and betting restrictions, prompting calls for a solution modeled on Australia's minimum bet rule (MBR). Australia's MBR requires off-course operators to lay an advertised price and to guarantee losses capped at $2,000 on metropolitan win bets and $1,000 on non-metropolitan bets. Prominent operators such as Ladbrokes and Bet365 operate under this rule there.
UK bookmakers have resisted adopting a similar MBR, arguing that it would negatively impact bonuses such as Best Odds Guaranteed. Meanwhile, recent budget changes have increased online gaming duty through higher rates, while racing was excluded from a small rise in duty applied to football bets. These shifts highlight the need to address restrictions to retain betting turnover within the regulated market.
To tackle the unregulated sector and keep turnover in the regulated market, the government has allocated £26 million to the Gambling Commission over three years. The author of the report stresses that the Australian MBR model is a clear and viable template and urges the Gambling Commission to act now, noting that the timing is favorable for reform.
