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Originally Posted by Michal
Hi All,
Obviously we are watching the situation unfold, holding our breath (and turning blue). Part of my submission:
Closing of accounts:
One way to not take any bets from a winning punter is to close his account; this circumvents the whole process. Unless fraudulent behavior is detected bets should be accepted and accounts should not be permitted to be closed.
Fixed prices / products on offer differ between clients:
Another way to circumvent the intent of this legislation would be to offer substandard odds or products. In this case the punter would not make the bet. One version of a product / odds should be available to all clients as advertised on the bookmakers website without being logged in (and discriminated against based on punters winning performance).
Our industry is one where people aspire to become winning punters, people do not come to the races with the intent to loose. The current practice of risk management by bookies where they eliminate winning punters fosters the decline of interest from existing and new clients to our industry.
To which the reply was short but very promising:
Dear Michal,
Thank you for your submission. The new Condition does include a clause to curb closure of accounts and restriction on clients’ accounts
Yours Sincerely,
Clare Wilson
Race Fields and Wagering Supervisor
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Will run you through a typical scenario that happens to me,
Re the fixed odds being displayed for all & sundry but when,
A winning punter (account not closed) wants to get a bet on.
Horse =A Current fixed odds showing $9.0 for everyone to bet.
Winning punter rings up (I have to bet on the phone with this corporate)
After giving my account details I ask for $500.00 on horse =A at $9.00,
Silence for a few seconds as my account details come up then the spiel.
I'm sorry "GARYF but we have laid that horse substantially early on,
And we don't want to risk that amount at those odds.
2 X scenarios are now offered to me.
I can have the $500 on at a drastically reduced price,
Or $20.00 on at the current $9.00.
They have refused my bet, but hopefully the rule is invoked,
That all bookmakers have to be bet to lose a certain amount I wonder,
If it will cover the above scenario, or just another way out for them.
Cheers.
Garyf.