Over 400 Racing Figures Pen Open Letter To DCMS On UKGC Proposal

More than 400 figures in the world of horse racing have been clamouring for a stop to be put on a controversial affordability checks policy put forward by the United Kingdom Gambling Commission (UKGC).

In the latest development, 408 people in racing circles signed an open letter to the Department for Culture, Media & Sport (DCMS) Secretary of State Lisa Nandy.

A pilot scheme was initiated by the UKGC in 2024, and during that period, financial vulnerability checks were conducted. The UKGC are hoping to introduce the policy next month, but there has been plenty of disgruntlement expressed.

Contents of the letter revealed

The checks, according to the UKGC, are supposed to be “frictionless”, and designed to give punters greater control when it comes to wagering at the best UK betting sites. Indeed, the premise of the policy was to provide seamless checks for those spending more than £1,000 in 24 hours or £2,000 within 90 days.

However, key players in the racing world, including breeders and trainers, have taken umbrage with the policy proposal. And they didn’t hold back in detailing their worries to the DCMS.

The letter read:

“We are writing to express our deep concern over plans to introduce affordability checks for betting, due to be signed off by the Gambling Commission’s board next month and urge the Government to rethink a policy which will cause lasting damage to British horse racing.

“A day at the races and a flutter on the horses is something that is deeply embedded in the British way of life. But this cultural, social and economic institution is now at risk if the decision to impose affordability checks for even low levels of betting goes ahead.”

Breaking down some of the key figures

The open letter inferred some important figures that will cause concern within the betting industry. For example, the letter quoted a survey carried out by the UKGC, which discovered that over 66% of bettors would not be comfortable sharing credit data with operators.

Moreover, the racing industry itself supports more than 85,000 jobs. As one of the country’s biggest sports to bet on, it contributes more than £4 billion to the economy.

Perhaps more intriguingly, a petition was introduced in 2024 opposing the affordability checks policy, and over 100,000 people signed it, sparking a debate at Westminster.

Keeping the black market at bay

Following Rachel Reeves’s decision to hike betting taxes placed on sports wagers during her Budget speech, this has raised underlying concerns. Although horse racing is exempt for now, fears have been perpetuated about punters migrating to black market operators that aren’t licensed by the UKGC.

The open letter alluded to this, adding:

“Your Government demonstrated it recognised this risk when the Chancellor used her Budget to give the Gambling Commission £26m to tackle the burgeoning betting black market.

“Adding a further layer of regulation right now would be at best a grave misjudgement and at worst, a gift to the criminal underworld that benefits from these illegal betting operations.

“The landscape has changed since your Government took office, and it is time for us all to work together to find a better solution. It’s not too late for you to reconsider the unintended consequences of your predecessor’s policies and “Save Our Bets” to secure British horse racing’s future.”