KUALA LUMPUR:  Oct 2, 2012

It's back to RM5 for win and place betting in Malaysia from Oct 1.

In August last year, the per unit bet for win and place betting was raised to RM10 after the totalisator board suffered heavy losses when several "sure win" horses chalked up a series of wins across the causeway in Singapore.

The Singapore Turf Club reduced the minimum payout for a win bet to S$5.30 from S$6.00. At the same time the minimum payout for a place bet was raised to S$5.10 instead of "money back" $5.00.

In light of the falling turnover since the RM10 per unit bet for win and placed was introduced, the Malaysian totalisator board decided at a recent meeting to revert back to RM5 per unit for win and place betting.

At the same time, a panel with representative from each of the three turf clubs and Pan Malaysian Pools Sdn Bhd (PMP), the totalisator operator, will be set up to declare a sure-win horse race as a non betting race.