The leaders of the racing industry of the UK have been warned that the next few weeks would be extremely important to the sports’ future, with the Government being expected to reveal the results of its gambling review in a white paper this spring.
The chief executive officer of the Betting and Gaming Council (BGC), Michael Dugher, shared in an interview with the Racing Post that the British racing sector would face a “clear and present danger” in case the Government made the wrong proposals.
Mr Dugher, a former Member of Parliament from the Labour Party and shadow culture spokesman, has passionately defended the local racing sector. According to him, shareholders in the sport should concentrate on the restrictions that have been proposed as part of the gambling review. He noted that racing without betting could not exist, and the local racing industry needed to understand that the upcoming weeks were “absolutely critical” for its future.
As Casino Guardian reported, the review of the country’s Gambling Act of 2005 was officially launched by the Government in December 2020, as it was willing to make Britain’s major gambling law more fit for the requirements of the digital age in order to guarantee better regulation of the sector and more reliable safety measures for the gambling industry’s customers.
The British Horseracing Authority (BHA) has backed the objectives of the review but the probe caused widespread concern within the sport as some feared the potential outcomes of the ongoing review.
UK Government’s Review White Paper Expected around Easter or in May at the Latest
Casino Guardian previously revealed that customer affordability checks have been among the recommendations of the Government review, with the customers being expected to become subject to requirements for the provisions of bank statements or payslips in order to prove they can afford to spend money on betting activities. However, the leaders of the British racing industry have warned that such a change could result in some serious negative effects on the sector’s finances should the checks be too intrusive.
According to preliminary estimates, affordability checks triggered by a monthly loss as low as £100 could cost the industry approximately £60 million on an annual basis.
Furthermore, there have been concerns regarding the impact that other recommendations, such as bans on gambling advertising on TV or betting sponsorships, could have a detrimental impact on racing if the industry is not treated as officially exempt, as the sport would fall victim to the negative effects of such a restriction.
Recently, the UK Gambling Minister Chris Philp has shared that the Government wanted to make sure that its review on the sector would not undermine the financial state of British racing. This statement was welcomed by Julie Harrington, the chief executive of BHA, at the time. However, Mr Dugher has warned that any reform that seeks to reduce the size of the regulated gambling industry in the country would have financial effects on the sector and believing anything else would be naive.
As Casino Guardian reported, the UK Government had been expected to officially announce the results of its gambling review and adjacent recommendations before Christmas. However, the process was delayed, with the latest reports saying that the white paper is now expected to be published around Easter or could even be delivered as late as May 2022.
- Author
Daniel Williams
