It’s been an interesting couple of weeks for new Australian sports betting site betr, and the intrigue continues with a couple of big developments for the 2022 Melbourne Cup on Tuesday.
Firstly, betr have adjusted their popular promotion that was previously giving punters $101 odds on any runner in the 2022 Melbourne Cup. It seems that the majority of the betting activity was on the two international favourites for the race in Deauville Legend and Loft. The betr books were starting to skew too heavily and, holding a massive liability on the two runners, betr had to make a change.
As such they decided they could no longer offer $101 on either of those two runners. Instead, they priced them at $10 much to the dismay of those who were late to the party. The $101 odds are still available for the remaining runners.
"Due to the unprecedented number of bets placed on Deauville Legend and Loft over the past two weeks, Betr has had to revise the odds on those two runners from $101 to $10, effective immediately," said betr chairman Matt Tripp on Thursday.
But the twists don’t end there.
On Friday morning it was announced that Loft had failed a vet inspection after swelling around a tendon was discovered during trackwork. The second-favourite was ruled out of the Cup, leaving superstar jockey James McDonald without a ride in the big race.
Perhaps betr was relieved by the news, however it has left Deauville Legend a commanding $4.00 favourite for the race who will carry the weight of a nation and a massive liability for betr.
Unfortunately due to the nature of “All In” markets, those who bet their $10 on Loft for the betr promo will not be receiving a refund. There will also be no deductions made on the market.
The betr promotion still available until the Melbourne Cup barrier draw at 5pm Saturday afternoon.
For more information about betr, please check out our betr review page.
