The trending shift in Best Odds Guaranteed Racing Promotions8th January 2020 / lee
Punters who enjoy horse racing may have noticed recent changes to the popular feature Best Odds Guaranteed that many operators offer. The offer, which means that if your selection in a race wins at better odds than which you backed them at, the bookmaker pays you out at the better SP.
This usually applied to races as soon as they were priced up by an operator. Recently, however, more and more bookmakers have started placing restrictions on Best Odds Guaranteed. William Hill, for example, has moved the qualifying promotion to bets placed from 10 am onwards on the day of the race.
Last year they had already made a move with BOG being triggered from midnight on the day of the race. In other changes to their terms and conditions for Best Odds Guaranteed, William Hill have capped maximum benefits from it to £25,000.
Other operators like BetVictor and Paddy Power Betfair have also switched to limiting the Best Odds Guaranteed to wagers placed on the day of a given race.
Why the change?
Some of the latest figures from bookmakers is that there has been a 10% drop in revenue for them from online/mobile platforms in the last 12 months. So that has been quite a hit and there was a reported drop in revenues from horse racing, to being around 15% less than the previous year.
Along with increased taxation to deal with, bookmakers are starting to cut back on the Best Odds Guaranteed promotions. That naturally will shave off some of what they would have to pay out on the promotion, were it running for a longer time from the initial pricing of a race through to the start of it.
It does leave the overall promotion on thin ground, with some speculation that it could get chopped altogether which would be a hit to recreational bettors. As is usual in the industry, it would only take one operator to drop BOG altogether and others would, more likely than not, follow suit.
Mentioned offers may be restricted to new customers, T&C's apply. Older offers may be not valid anymore. See details directly at the bookmaker's website. 18+. Please Gamble Responsibly.
* All mentioned odds were valid at the time of writing. Betting odds are subject to fluctuations. Please check the current odds with the respective bookmaker!