Australian Gambling – In what is being hailed as a win for punters across the country, NSW Racing announced the terms of its new minimum bet refusal limits and betting account laws for Australian bookmakers today.

After careful consideration and consultation from leading bookmakers and punters, NSW Racing amended its wagering laws – stating that all wagering operators would have to comply with the new bet limits and conditions by September 1, 2014.

Racing NSW Chief Executive, Mr Peter V’landys, said that he was pleased with the decision-making process and the effects the resulting amendments would have on the industry.

“The consultation process with wagering operators and punters was very constructive and informative. Racing NSW carefully assessed the submissions from all parties and has amended its previous proposal in light of those submissions,” he said.

“Racing NSW is confident that the conditions announced today are fair and practical for all parties, whether they are wagering operators, professional punters or recreational punters. All punters should be able to place a legitimate bet on NSW Thoroughbred races and should not be discriminated against by having their accounts closed or bets refused simply because they are successful.

“Racing NSW will monitor the conditions to ensure that they are fair and practical for all parties. If warranted, changes may be made periodically to achieve the right balance.”