Two United States betting companies have fallen foul of new anti-robot betting rules introduced by Swedish Totalisator Agency ATG which runs the hugely successful V75 and other betting products on Swedish racing.
Last Friday ATG introduced system restrictions on some forms of gambling in an attempt to stop the so-called robot gambling.
The limitations applied to the number of systems that could be submitted per account, contest and game type and was in addition to the "robot rules" ATG introduced in May .
ATG set the maximum allowable systems for V4 and V5 at 500 systems, for V64 and V65 at 2000 systems and V75 and V86 at 5000 systems.
But on four occasions since last Friday, two companies - European Wagering Services (EWS) and the Las Vegas Dissemination Company (LVDC) - infringed the maximum limits and ATG has suspended their licenses until further notice.
Swedish media reports that in ATG's regulations it is the respective gaming company responsibility for compliance and that failure to do so would invoke firstly a warning and then suspension of services.
Swedish Travnet quoted a press release from ATG managing director Hasse Skarplöth (translated).
“Our international partners were informed last Monday and has agreed borders. Both EWS and LVDC was previously warned about so-called robot game and shut because now suspended from all games on ATG's products. We have acted in accordance with our rules. Now we will examine the implications for our relationship with these companies.”
The four violations were on V4 or V5 betting. Only one of the games was a winner, the V4 at Bodenon Monday when one of the companies from the United States gave a total profit of $14,922.
According to ATG's rules the profits will not be paid and added instead to the V4 pot Bergsåker on Monday October 21.
Robot betting is an offshoot of the sophisticated computer programmes which are used by stock market traders to predict stock prices and known as high-frequency-trading (HFT) which buy and sell massive amounts of stock in fractions of a second. HFT now accounts for 60% of the stock market volume in the US.
These computer models have been adapted to invest in racing’s pari-mutuel pools and create algorithms to identify and cover far more wagering combinations than any human handicapper could. These Computer Robotic Wagering teams are now big business and many US racetracks now openly embrace them, because of the substantial increase in the handle that they can provide. Some racetracks even give CRW teams a rebate for wagering at their tracks.
But the European authorities take a different view.
In an earlier interview ATG’s CEO Hasse Skarplöth said: “We want people of flesh and blood to bet on horses, not robots.
“I do wish to emphasize that these account holders have not done anything wrong, violated any laws nor breached any rules, but they have, nonetheless, used a method that, in the long run, puts a great number of regular players at a considerable disadvantage, and consequently, is having a detrimental effect on the entire horse racing economy.”
by David Sanders for Harnesslink.com