Yesterday, while taking part in Luck On Sunday on Racing TV, the professional punter Neil Channing talked about the possible negative consequences that the ongoing Government gambling review could inflict on the country’s horse racing sector.
Mr Channing has shared that the upcoming outcome of the comprehensive review of the UK Government into the entire gambling sector and its regulation threatens to negatively affect horse racing in case local lawmakers decide to implement stricter affordability checks. Speaking on Luck On Sunday aired on the Racing TV channel, the professional punter raised his concerns about the potentially detrimental consequences that the review’s outcome could have on the financial health of horse racing and the overall impact that the Government’s gambling review would have on both the near and the long-term future of the sector.
As Casino Guardian previously reported, the results of the cornerstone gambling review, which has taken more than a year, are expected to be unveiled in the following weeks. Although experts remain cautious in their projections, as they cannot be really sure about the outcome of the review, reports have emerged that the white paper of the UK lawmakers could include the adoption of stricter affordability checks as part of the measures aimed at tackling the increase in problem gambling rates.
If this truly happens, then Britain’s horse racing sector is extremely likely to face a negative financial impact.
Gambling Industry Changes Would Probably Take at Least Two Years, Channing Says
Over the past few months, professional punter Neil Channing has been sharing his concerns with the media, saying he is not exaggerating the potential negative impact that the Government review’s outcome could have on the sector, calling it an “existential threat”.
According to Mr Channing, the implementation of the aforementioned affordability checks could wipe off over 50% of the number of people who gamble on horse races – a consequence that would shrink the sector to a level that would mean no more horse racing.
Still, he further noted that the results of the gambling review may not be turned into actual law for two more years, because it would be a lengthy process. The professional punter reminded that Acts of Parliament come as Green Papers first, which are basically consultations, while so-called White Papers outline exactly the issues that would be included in the bill. The proposals are being shaped into a certain form to be taken to the Parliament that has to decide whether or not to give the green light to the bill.
In 2021, a consultation of the UK Gambling Commission (UKGC) had raised the possibility that a £100 betting limit could be imposed on customers’ monthly online gambling losses unless they are able to prove they could afford to lose more money than the ones permitted by the £100 cap.
A last year’s survey of Racing TV held among almost 2,000 members of the television channel found that 93% of the respondents believe they should be allowed to decide their betting limits or money spent by themselves. Another Racing TV survey, which took place later in 2021, found that more than 86% of the respondents believed that stricter affordability checks could push customers to underground betting syndicates that are not licenced and do not pay taxes to the Government.
- Author
Daniel Williams
