Sky Bet becomes latest firm to launch racing MBL
Operator will lay to lose £500 on Class 1 and 2 UK racing, albeit limited to win-only bets
Sky Bet today announced the introduction of a minimum bet liability (MBL), laying all customers – restricted or otherwise – to lose £500 on Class 1 and Class 2 horseraces.
The guarantee kicks in on 10am on the day of the race and applies only to the win part of the bet.
The pledge will be in action from Tuesday where Goodwood host three Class 2 races.
“We already offer a very competitive racing package with extra places and price boosts and the Guaranteed Minimum Bet will hopefully prove popular with existing and potential customers,” said Michael Shinners, Sky Bet racing PR manager.
Sky Bet joins BetVictor, Betfair and William Hill with some form of online MBL, albeit with varying limits and terms.
Advocacy group Justice for Punters welcomed the announcement, saying it was progress towards one of the Gambling Commission’s primary aims; a ‘fair and open’ gambling market.
“One day, we hope that every sports betting market will have an MBL unless the gambling industry and officialdom produce evidence as to why not,” the group said.
Another punters group, Secret Betting Club, added: “Its only Class 1 and 2 races and win only so it’s not everything we want but it’s a start. Like all these offers, each firm is trying it out for size first to see if its profitable for them.”
William Hill recently told EGR it was turning a small profit on the extra stakes it was taking via the MBL.