The first week of February 2021 augurs a very important period for the future of gambling on sport and the potential future of horse racing in Britain.
Affordability checks and their potential implementation are a very hot topic and, if implemented, will affect any of us who like a bet.
The Gambling Commission is consulting on plans to introduce monthly spending caps for betting online and a requirement for customers to undergo affordability checks before betting.
If successful, this could be implemented as soon as this year and set as low as £100 a month.
Racing TV fully supports the importance of protecting vulnerable gamblers from harm, but there is widespread concern in the sport that the proposals are disproportionate and would cause serious damage to the Racing industry.
It has been forecast that the proposals would initially cost the racing industry more than £60 million in direct losses, derived from reduced media rights income (much of which is generated via Racing TV’s parent company, Racecourse Media Group) levy payments and sponsorship.
This figure could be amplified many times over through the wider rural economy, and lead to racecourses closing, significant job losses.
Here, respected commentator Colin Hord - Chairman of the Horserace Bettors Forum - says the proposed plans represent a potential "serious blow" to racing and their implementation will not stop problem gambling, while punters can circumnavigate the potential measures with illegal bookmakers or by placing bets with overseas operators.
Affordability checks will affect swathes of casual and more serious punters while current operators can do more to help problem gamblers,. says Hord in this concise and compelling discussion with eight-time HWPA Broadcaster of the Year Nick Luck
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