Minimum Bet Guarantees have been in the news recently and last week the biggest firm yet – Skybet joined the throng with the unveiling of their own £500 ‘lay to lose’ offer – available to those betting on all Class 1 and 2 races from 10am each day.
Whilst it was welcome news that such a large bookie as Skybet had put up its own guarantee, their offer is not as extensive as some of the others available, yet is still another step in the direction for those of us fed up of restrictions and closures.
I covered the topic in more depth in my article on Min Bet Guarantees a couple of weeks ago and the hope is that these offers could be the start of a more widespread acceptance of bets from all punters (not just losing ones).
Especially if stories like this article in the Daily Mail continue to raise awareness of unfair bookmaker practice in limiting winning bets.
Min Bet Guarantee Round-Up
(Updated 30th November 2018 in light of Betfair’s expansion to offer the guarantee on all races)
To help keep you informed, I have penned a quick summary of what is on offer from each of the 3 firms offering these guarantees and the different terms and conditions. Please note – this covers online betting only.
Bet Victor – By far the most extensive offer initially, Bet Victor have rolled out a ‘Bet Guarantee’ market for every UK/Ireland race, where you can win up to £500 from 11am onwards. Both win and each way betting is allowed.
Those of you who have had Bet Victor accounts closed in the past are also welcome to apply to have them reopened to use in the guarantee market. Indeed already a dozen or so of you have emailed me to confirm previously closed accounts are now usable once again.
Despite initially offering the same odds in the ‘Bet Guarantee’ markets as in their normal racing markets, you can now expect to find worse odds at times, especially for smaller race meetings or those with unfavourable each way terms. Evidence seen by us recently suggests the ‘Bet Guaranteed’ market is now working regularly to higher over-rounds and lower value prices.
Therefore, do be sure to double-check the odds being offered in the Bet Guarantee market and how they compare before placing your bets.
Betfair Sportsbook – Initially offered a £500 lay to lose guarantee for all class 1 and 2 races for UK and Ireland, although this was recently expanded on the 30th November to cover ALL races.
You can bet up to £500 on all races win only from 10am and those of you previously restricted by Betfair Sportsbook will be able to get on without issue. Unlike Bet Victor’s offer there is no separate ‘guaranteed’ market and you simply bet as you would do in the regular Betfair win racing markets.
Skybet – They will lay a bet to lose up to £500 from 10am onwards, although this is for win bets only and in class 1 & 2 races.
As and when any other bookmakers roll out their own offers, I will keep you updated.
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See you on the inside.
Smart Betting Club Editor