Betvictor have broken new ground in online betting as they have become the first major online operator to provide a lay-to-lose guarantee on every race in Britain and Ireland. The new initiative was launched this week.
BetVictor customers will now have the opportunity to win up to £500 by selecting a Guaranteed Bet option.
The coverage will be available on the win and the win part of an each-way single bet placed after 11 am on the day of the race and it applies to all grades of race. Other operators do offer a option, but only available in shops, not through online betting until now.
BetVictor offer this following discussions with the Horse Racing Bettors Forum who have been trying to tackle complaints about betting restrictions and the closure of winning accounts.
BetVictor director of sportsbook Matt Scarrott said: “We entered dialogue with the Horse Racing Bettors Forum earlier this year and this project is something we’ve 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.”
HBF chairman Matt Bisogno said: “HBF welcomes the news that BetVictor have 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.”
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