Betr to provide early fixed odds in deal with Racing Queensland and Racing Victoria

News.com.au

5 days ago

A corporate bookmaker has done a deal with a pair of racing bodies to end a Mexican standoff over early fixed odds markets for non metropolitan and midweek races.
Racenet reported last month that social media chatter had caught fire following media giant Tabcorp's decision to realign its approach to the offering of odds for non-metro thoroughbred meetings.
Punters who wanted to try to snap up early odds were left waiting until race day for prices for a range of lower tier race meetings available through TAB.
Other bookies followed suit, creating an impasse.
Now, if there are no fixed odds markets at 5pm on the day before Queensland and Victorian races, Betr has promised to fill the void.
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'If nobody goes up on Victorian and Queensland thoroughbred meetings the day before they're held, we will step in and aim to have a market up by 5pm to make sure punters can get on,' Betr chief trading officer Tristan Merlehan said.
'We're serious about giving punters the best-possible experience and that means doing our best to get markets up when punters want to bet.
'This follows productive discussions we've had with Racing Victoria and Racing Queensland and shows we can improve outcomes for punters if we're all pulling in the same direction.
'We will look to work with further racing bodies and expand our early markets coverage for the benefit of our shared customers.'
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Racing Queensland chief executive Lachlan Murray hailed Betr's move.
'Bookie pricing is now very much a commoditised product and many of the operators rely on automatic pricing tools,' Murray said.
'The recent decision by TAB to delay posting various markets until the morning of the meeting has created somewhat of a standoff between TAB and the corporates with setting those early markets.
'Whilst lacking early markets is a blow to punters, what this circumstance has created is an opportunity for a wagering service provider to fill that gap.
'Betr publishing early markets is a great initiative … it's a great way for Betr to differentiate themselves from the other operators.'
In response to its recent move, a Tabcorp spokesperson told Racenet last month: 'TAB prides itself on being market leader for racing' while also dismissing claims the changes were a result of recent staff cuts.
'We're first to market for the majority of thoroughbreds domestic races and that will continue,' the spokesperson said.