The British Horseracing Authority (BHA) has warned MPs that proposed affordability checks could have a “financially devastating” impact on the horse racing industry. The checks, which are being considered by the UK Gambling Commission, would require bookmakers to assess the financial circumstances of their customers to ensure that they can afford to place bets. The BHA claims that such checks could result in a significant reduction in betting turnover and could ultimately harm the sustainability of the sport. This article will explore the potential impact of affordability checks on the racing industry and whether the concerns raised by the BHA are justified.
The British Horseracing Authority (BHA) has warned a committee of MPs that the introduction of blanket affordability checks at low levels of spending would have a devastating financial impact on racing. In written evidence submitted to an inquiry into gambling regulation launched by the Digital, Culture, Media and Sport (DCMS) committee, the BHA stated that the checks already being carried out by operators were hitting the sport’s revenues by tens of millions of pounds. The BHA also called for the government’s gambling review white paper to be published as quickly as possible. The organization argues that continued delays are having a detrimental effect on racing’s finances, which have already suffered significantly due to the Covid-19 pandemic.
In conclusion, the BHA’s warning about the potential financial impact of affordability checks on British racing is a timely reminder of the delicate balance that exists between the sport and the gambling industry. While it is essential to protect vulnerable individuals from harmful gambling practices, it is equally important to ensure that the racing industry can continue to operate viably and sustainably. As the debate continues, it is hoped that policymakers will take heed of the BHA’s concerns and work collaboratively with all stakeholders to find a solution that benefits everyone involved. Whether this is achievable, only time will tell, but the BHA’s intervention has certainly sparked a much-needed conversation about the future of racing in the UK.
