JCR champions punters’ rights with standard each-way terms

16th August 2013

Jockey Club Racecourses, the UK’s largest racecourse group1, today confirmed that from 1st September 2013 racecourse bookmakers at its 15 tracks will offer customers standard and consistent terms when accepting each-way bets.

The move is designed to provide greater certainty and protection for the punter, and in turn benefit racecourse bookmakers by increasing customer confidence in the betting ring.
 
Jockey Club Racecourses is the first racecourse group to implement standard each-way terms at its tracks in a change to licence agreements with racecourse bookmakers, following a three-month consultation period with various bookmaker associations and individual bookmakers.
 
Dickon White, Group Betting Director for Jockey Club Racecourses, said:
 
"We believe 1st September will be an important day for the on-course betting ring as the introduction of standard each-way terms for punters will give Jockey Club Racecourses’ customers greater confidence they are getting a fair deal when betting each-way at all 15 of our tracks.
 
“We’ve engaged with bookmakers in constructive and informative discussions about each-way terms and introducing a clear standard across all of our courses. We’ve listened to bookmaker feedback and been able to improve the solution we’re introducing as a result. Racecourse bookmakers are an important part of the theatre of a raceday and I am confident this change will be beneficial for both punters and bookmakers alike.
 
“I would like to personally thank the bookmakers who have taken part in this process and I look forward to working them on future projects to help promote the on-course betting ring."
 
JCR standard each-way terms:

Where accepting each-way bets, ensure the terms shall be or shall be better, i.e. more favourable to the customer, than:

a)      for races with fewer than 3 runners – all to win
b)      for races with 3 or 4 runners – 1/5 odds on place 1– 2
c)      for races with 5 – 7 runners (inclusive) – 1/4 odds on place 1–2
d)      for races with 8 or more runners – 1/5 odds on place 1–2–3
e)      for handicap races with 12 – 15 runners (inclusive) – 1/4 odds on place 1–2–3
f)       for handicap races with 16 – 21 runners (inclusive) – 1/5 odds on place 1–2–3–4
g)      for handicap races with 22 or more runners – 1/4 odds on place 1–2–3–4
 

[1] By turnover (2012: £141.2m), racecourses (15), attendances (2012: 1.8m), quality racing (Group and Graded), total prize money (2012: £35.3m) and contribution to prize money (2012: £16.5m)