"Racing enjoyed its biggest win for many years in last month's budget. The threatened harmonisation of duty rates for betting and gaming was not simply seen off, but routed, with the differential between the two rates significantly increased. As an added bonus, meanwhile, racing was excluded from the small rise in the duty rate for bets on football and other sporting events."
"Having celebrated the win, though, the next step is to ensure that the benefits are maximised. And since, in relative terms, racing has just become a more attractive product for bookmakers, what better moment could there be to address one of the major obstacles that many punters face when they want to bet on the horses? That barrier is account closures and restrictions on punters who are or appear to be sufficiently smart to make a long-term profit on their betting."
"A punter tries to take an advertised price, sometimes for as little as 10 or 20, but the computer says no and offers a derisory alternative stake of a few pennies instead. Everyone in racing knows that it has been happening for many years. It makes a mockery of the Gambling Commission's mission statement to ensure that gambling is safe, open and fair."
Racing achieved a major taxation advantage in the recent budget, with the threatened harmonisation of betting and gaming duties defeated and the differential between rates significantly increased. Racing was also excluded from a small rise in duty on bets for football and other sporting events. The improved relative attractiveness for bookmakers presents an opportunity to tackle account closures and restrictions that prevent many punters from betting on horses. Punters routinely face refused advertised prices and token stakes, undermining the Gambling Commission's aims. A minimum bet rule operates in many Australian jurisdictions, with Victoria requiring substantial liability thresholds and major operators complying.
Read at www.theguardian.com
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