UK Racing Industry Urges Government to Halt Rollout of Betting Affordability Checks

^{Pictured: Lisa Nandy, UK Secretary of State for Digital, Culture, Media and Sport / © Shutterstock}

More than 400 stakeholders from the UK horse racing industry have urged the government to pause the rollout of affordability checks for betting customers, according to an open letter published by the British Horseracing Authority.

The letter was addressed to Lisa Nandy, who oversees regulation of the sector. It was signed by racecourse owners, trainers, breeders and other industry participants.

The proposed mechanism would allow bookmakers to assess customers’ financial standing using data from credit institutions. The measure is being considered as part of tighter gambling regulation in the UK and is aimed at reducing the risk of excessive spending.

Bettors have generally reacted negatively to the proposals.

A survey by YouGov, commissioned by the Betting and Gaming Council, found that 65% of gambling customers are unwilling to provide bank statements and income data in order to continue betting.

According to the letter’s signatories, some players may shift to unregulated operators where such checks do not apply, creating risks for the funding of horse racing.

A portion of bookmakers’ revenues is allocated to the sector, including prize money and racecourse maintenance. As a result, any decline in activity within the regulated market could lead to reduced funding for the racing industry.

The authors of the letter are calling on the government to intervene before the initiative is approved by the UK Gambling Commission. They say a decision could be taken as early as next month.

Earlier, Gambling Park reported that the introduction of affordability checks is already reducing interest in horse racing among major betting operators in the UK.