BGC Throw Horse Racing Budget Barb; Win Claims ‘Misleading’

The Betting and Gaming Council (BGC) have delivered another stinging rebuke of the Autumn Budget, and this time they have criticised the impact it will have on horse racing.

Although horse racing was exempt from the tax increase, with the rate remaining at 15% in land-based establishments, the BGC are far from satisfied.

Other duties, such as the Remote Gambling Duty (RGD), will rise from 21% to 40% from April 2026, and it is predicted that the UK government will raise £1.1 billion in taxes by 2029/30. Now, the BGC has strenuously argued that horse racing won’t escape the fallout from the budget.

Worst is still to come

When the budget was announced, BGC CEO Grainne Hurst was vocal in her disapproval. And she has projected her worries about the direction in which horse racing is going.

In a statement, Hurst said:

“The Chancellor’s Autumn Budget has been pitched as good news for horse racing, but in reality it spells thousands of job losses right across the entire betting and gaming industry and represents a major setback not only for that sector but for all the sports our industry supports.

“Racing has seemingly been protected from higher betting duties. It sounds like a win, but anyone who understands how the sector operates knows that isn’t true.

“This exemption is cosmetic. Beneath the surface, this Budget delivers a devastating blow to the very ecosystem that racing relies on.”

Financial impact uncovered

The sharp increase in taxes may have protected some of the bigger sports betting operators, but some of the smaller ones, such as BetGoodwin, have withdrawn all their sponsorship commitments. Hurst denounced claims that horse racing is a winner from the budget as ‘dangerously misleading’.

She noted 500 betting shops could close across the country, which may cost the sport around £20 million. The horse racing tax is expected to rise to 25% from 15% as of April 2027, and Hurst is concerned that a further £2bn could move offshore.

Breaking down horse racing betting popularity

As one of the UK’s most well-attended sports, horse racing has flourished both online and offline. Many of the best horse racing betting sites will be deluged with daily prices across meetings, and statistics bandied about indicate that more than 15% of adults bet on horse racing monthly.

It is suggested that 25-34 year-olds are more likely to place horse racing wagers (32%) than any other age group. The 35-44 year-olds are the second group most inclined to do so. Factor in the gender betting angle, and men are more than twice as likely (22%) to place monthly horse racing bets compared to women (8.5%).

Black market fears reiterated

While Hurst was keen to focus on the adverse effect the budget will have on horse racing, she also reiterated her concerns about bettors flocking to the black market. Previously, she noted the UK could follow in the footsteps of France, which has experienced significant black market growth, and she is worried about the gambling sector that has contributed over £6bn to the economy.

She added:

“The only winner from the Budget is the black market - they’ve hit the jackpot. The losers are customers who will now be exposed to greater risk, and sectors like racing that depend on a strong industry.

“We stand ready to work with Government to deliver the safest, most sustainable gambling environment in the world. If racing is to have a secure future, the system it relies on must remain strong and this Budget takes us in the opposite direction.”