Betfair extends £500 MBG to all UK and Ireland racing
Operator hails “huge confidence” in compilers and says racing is “in our DNA”
Betfair Sportsbook has expanded its £500 racing minimum bet guarantee (MBG) to all UK and Irish racing, the operator announced this morning.
The MBG had previously applied to all Class 1 and 2 races, but Betfair said the expansion demonstrated its commitment to racing and “huge confidence” in its compilers.
As before, the MBG will apply to all customers on win-only markets from 10am on the morning of the race.
“Betfair has always been a unique destination for keen bettors through a combination of the world’s leading Exchange and a keenly priced sportsbook,” said Betfair MD Kevin Harrington.
“In guaranteeing to lay any horse to £500 every morning, we hope it will also become the destination for any customer who has been stake factored elsewhere. Racing is in our DNA and we have huge confidence in our compilers, reflected in the wide-ranging nature of this initiative.”
Minimum bet guarantees have received mixed reactions from punters and operators alike, with punters arguing the guaranteed prices are rarely, if ever, above the Exchange price, and operators saying if they do go above the exchange they get hit by bots and arbers.
Matt Bisogno, chair of the Horseracing Bettors Forum, added: “HBF welcomes the news of Betfair’s commitment to a Minimum Bet Guarantee. The extensive provision and relatively early availability are positives for British (and Irish) racing bettors, and we congratulate Betfair on this significant step forward”.