It’s always annoying when you can’t bet as much as you want on a race.
Whether it’s because you have been limited by a series of bookmakers – they don’t like ‘winning’ punters after all, or because the sportsbooks can’t lay bets off due to low liquidity on small, grade-less races.
That’s why the announcement from BetVictor this week regarding their Guaranteed Bet offer has been met so warmly by the industry.
The firm will guarantee all customers the chance to win up to £500 on every single UK and Irish horse race; no matter what its grade or the available liquidity with which they can balance their books.
Guaranteed Goodness
If you log on to your BetVictor account and look to place a single bet, you will now be presented with the option of selecting Guaranteed Bet, which ensures you can win up to £500 for win only and the win part of each way wagers. The selection will appear alongside the standard ‘extra markets’ that appear on the firm’s racecards.
The key thing to remember is that Guaranteed Bet will only refer to single bets; doubles, multiples and system-based wagers are exempt from the offer.
And promotions like Best Odds Guaranteed, Run for Your Money and enhanced place terms are also exempt from Guaranteed Bet, although First Past the Post punters will be pleased to hear that they can get involved.
Victor Delivers Victory for Value Hunters
The initiative comes after discussions with the Horse Racing Bettors Forum (HBF), which aims to ensure fair and value betting for all punters no matter which races or markets they want to have a flutter on.
Their chairman, Matt Bisogno, said: “HBF welcomes the news that BetVictor has introduced a Guaranteed Bet provision. For the first time with a major operator, punters will be able to back any horse to win a minimum of £500 regardless of the class of race.
“Having discussed a number of issues with the team at BetVictor earlier in the year, HBF was heartened by their commitment to a fairer betting environment. Of course, actions speak louder than words, and today’s announcement is an extremely positive step forward for British and Irish racing bettors as well as a palpable demonstration of BetVictor’s commitment.
“HBF believes the Guaranteed Bet provision represents a forward-thinking approach, and we further hope it encourages other operators to enhance their offering to horse racing bettors.”
One of the key takeaway points is that customers who have previously been limited by BetVictor can take part in the new offer, although each case will be judged individually.
The firm’s director of sportsbook, Matt Scarrott, said: “We are pleased to launch Guaranteed Bet, which once again shows our commitment to giving horse racing bettors the best possible value.
“We entered dialogue with the Horse Racing Bettors Forum earlier this year and this project is something we have been keen to implement for a while. We believe our guarantee to include ‘each way’ bets and all race classes makes it a leading industry initiative.”
“Once we have trialled Guaranteed Bet for a short time, our plan is to review it with the intention of increasing limits and extending the timescales going forward.”