The Australian state of Victoria has imposed new minimum bet requirements on race betting operators.

Last week, Racing Victoria announced that its licensed Wagering Service Providers (WSP) would be required to adhere to a new Minimum Bet Limit (MBL) framework, effective October 1.

The MBL will require bookies to accept bets that pay winners up to AUD 2k (US $1,537) on one-win bets on city races, dropping to AUD 1k for non-metropolitan meetings. Bookies must also accept fixed-odds place bets to lose a minimum of $800 for metro meets, $400 for non-metro meets.

The new guidelines will be in effect on racedays from 9am for day meetings and from 2pm for night meetings. Racing Victoria says it has yet to determine what sanctions will apply to any WSP caught failing to abide by the new MBL, but insists that it won’t hesitate to make examples of backsliders.