RV follows Racing NSW minimum bet limits

Punters betting on Victorian thoroughbred races will have a minimum bet limit in time for the upcoming major spring races.

Racing Victoria has announced punters will be able to place a bet to win up to $2000 on a city race and $1000 on a country race from October 1.

The new rules closely follow those of Racing NSW which came into effect in 2014.

They apply to fixed odds bets with approved wagering operators from 9am on raceday for a day meeting and 2pm for night meetings.

Racing Victoria received responses from 480 punters, wagering service providers, industry participants, media and regulators after it announced the proposal in May for a minimum bet limit.

RV chief executive Bernard Saundry said they had listened to the customers who were strong in their views that the Racing NSW model was appropriate and should be mirrored.

RV has yet to finalise its customer dispute resolution process and sanctions for non-compliance by wagering service provider but says both will be in place by October 1.