What is and isn’t covered by the Guarantee
TAKE NOTICE that the Victorian Bookmakers’ Association guarantee pursuant to S94A of the Racing Act 1958 (Vic) is limited to defaults by a registered bookmaker in the payment of wagers AND DOES NOT EXTEND TO any claims against the registered bookmaker in respect of wagering deposits held by the registered bookmaker.
The Victorian Bookmakers’ Association Limited (VBA) formally guarantees all wagering defaults by our members, pursuant to the Racing Act 1958 (as amended, Victoria). The Racing Act may be viewed on http://www.legislation.vic.gov.au.
Section 94A of the Racing Act 1958 outlines the consumer protections afforded to customers in the event of a wagering default. Specifically, the VBA guarantee extends to the following:
- in respect of a cash or account funded wagering transaction (oncourse cash bet or internet-based bet from an encashed account), consumer protection extends for a period of 60 days from the date of the wagering transaction; and
- in respect of a credit wagering transaction (oncourse credit bet, telephone-based credit bet), consumer protection extends for a period 21 days from the date of the wagering transaction.
Please note that the VBA guarantee extends to wagering transactions ONLY. The guarantee does NOT extend to:
- cash deposited by you into a bank account held with a VBA member; or
- cash winnings derived from any wagering transaction left in your account (which are no longer eligible for guarantee as per the above time frames).
Legitimate wagering default claims must be made in writing and received by the VBA (email or post) strictly within the eligible time periods indicated above. Such claims must provide details of the wagering transaction/s in question and other relevant details and can be sent to the below:
Victorian Bookmakers’ Association Limited
Executive & Operations Officer
400 Epsom Rd
FLEMINGTON VIC 3031