Horse racing is one of the greatest sports that have prevailed over the centuries. It is also a proof of the man’s friendship with the horse that somehow man cannot let go off. The powerful strides of the horses, the shouting punters, the staggered voice of the announcer and the cloud make it a spectacle to watch. No matter what we say or think the sport is a very important part of our lives that cannot be taken out.
The concept of betting has existed from the prehistoric times. The concept has found a very important place in the modern world. Having the dream of being rich overnight, and it coming true when you’re favourite horse crosses the finish line first is just amazing.
Victorian Bookmaker History
Victorian bookmakers have played a very important role in the Australian racing for nearly 140 years now. Through all the great chapters of history the bookmakers have been playing their part in the trade which has added a unique atmosphere to the tracks in Victoria.
They have always been a great attraction because they offer personalized betting service on the track. Like their forefathers they add colour, vitality and excitement to a day at the races. All the Victorian bookmakers are the members of VBA (Victorian Bookmaker’s Association).
The Bookmakers
Gone are the days when the bookmaker was a big man in a check suit with a cigar in his mouth. Now the bookmaker is an average man in an average suit and the days of the cigar are long gone. He is also playing his part in the community and charity efforts and is a professional striving to increase the market shares and keep the operating costs low.
Betting on the racecourse is a duel between the punter and the bookmaker. It is not like the mechanical racetracks with no on-track bookmakers. They make the racecourse a more interesting place to be at.
There is no limit to the punter to get paid from the bookmaker. He can claim his winning ticket, weeks, months and even years later. Record of the unpaid ticket is kept with the bookmaker and you can always get it from him.
Code of Practice
It is a voluntary code of self guideline and is to be read in conjunction with the relevant legislation, regulation and rules of the racing codes and sports betting authorities in each state and territory.
National code of practice for the Australian bookmakers for the responsible provisioning of the wagering service has following objectives:
1. To develop and promote guidelines and programmes for the responsible delivery of wagering product, and the advertising and marketing of the Bookmaking business.
2. To upgrade the awareness throughout all member bodies for the enhancement of Bookmaking industry.
3. To responsibly provide services that will enable wagering to be a socially rewarding leisure and entertainment activity.
4. To assist those patrons who experience wagering related difficulties with information on, and direction to appropriate support services.
5. To enhance the public perception of the Bookmaking industry.
6. To comply with Government policy relevant to the Bookmakers.
7. Australian Bookmakers’ Association to continue to be the body to integrate and require State Associations to develop generic initiatives for the provision of responsible gambling nationally.
All bookmakers have to abide by the rules and regulations of the Government and the controlling bodies and operate under the authority and within the scope of the license.
ABA, through its Bookmaker Associations institutes a "Seal of Approval" approved by the Minister which allows Bookmakers to acknowledge and display in a visible manner, their support for fair, honest and responsible wagering.
The effective and in time resolution of the complaints by customers is a major objective of the bookmaking Industry code of practice.
Fixed dollar dividends were introduced by the Victorian bookmakers in 2000 and since then it has been appreciated by many as an innovative move and has been accepted by punters as the need of the time as compared to the old imperial system.
Online Betting
Many private Ltd companies in Australia are the leading developers in race, and sports wagering technology solutions has announced the launch of the Victorian bookmaker’s sports wagering operations using the WAGERplayer platform.
This is the commencement of the first phase of Racing Victoria Limited Bookie IP project, thus promoting Victorian Bookmaking by issuing sports wagering licenses and bringing the on-course betting ring online.
Online betting is the simplest and easiest way of placing the bet nowadays. You save your travelling expenses and can place more bets with that money. You do not have to worry about your local bookmaker you can easily go online and find a bookmaker of your own choice who is ready to accept your bet whether large or small. It is also the safest way of betting. It does not matter if you are travelling or are out of town you can place your bet on any race at any time with a computer having an internet connection.
Victorian bookmakers have a rich history and a bright future. Their online efforts have now materialized and they will be available with you in your homes at your computer round the clock. They are an organised group of bookmakers and you can easily place your bet with them without any trouble and with an assurance that you will get your winnings.