Sky Bet has become the largest online bookmaker in the UK to offer a minimum bet guarantee.

The guarantee will allow bettors to bet to win £500 on Class 1 and Class 2 races from 10am on the morning of the race, according to SBC News.

“We already offer a very competitive racing package with extra places and price boosts and the guaranteed minimum bet will hopefully prove popular with existing and potential customers,” said Sky Bet’s racing PR manager Michael Shinners in a press release.

The guarantee applies solely to the win part of bets and not to the each-way selection, it also excludes multiple bets, SBC News reported.

BetVictor, Betfair, William Hill and Ladbrokes Coral have also introduced minimum bet guarantees.

The Horseracing Bettors Forum, who have long campaigned for a £500 liability guarantee, reacted to positively to the news in a tweet which stated: “While not as comprehensive a provision as some, it is a further step in the right direction, and another operator prepared to allow previously restricted customers to have a reasonable bet on some races.”