5BTC or 111% + 111 Free Spins!
New players only. Exclusive 111% Welcome Bonus + 111 Free Spins
Andrew Black, co-founder of Betfair, has issued a plea to the UK government to protect the nation’s racing sector amid a sharp drop in betting turnover. Highlighting the sport’s cultural and economic significance, Black warned that the situation would deteriorate further without urgent intervention.
His concerns stem from the latest UK Gambling Commission report, which revealed a significant 25% decline in online betting turnover on racing, amounting to a staggering £3 billion ($3.8 billion). Black, who is also an owner-breeder, described this as just the beginning of a larger issue, emphasizing, “There is more to come.”
He suggested that racing deserves distinct regulations, separate from other forms of gambling, to address its unique characteristics. According to Black, racing differs fundamentally from casino gaming and general sports betting and should be treated accordingly.
The introduction of affordability checks has been identified as a major factor behind the decline in regulated betting activity. These measures, designed to prevent gamblers from exceeding financial limits, have faced backlash from the racing industry for driving punters toward offshore and illegal operators.
Black criticized these checks, saying they inadvertently empower unregulated alternatives, which he described as “more attractive” to punters due to their profitability and ability to bypass advertising restrictions. “They get their business in a viral manner,” he told the Racing Post.
The industry has accused the UK Gambling Commission of being “unaccountable and out of control” for implementing measures that alienate players. As punters shift to unregulated markets, operators struggle to maintain competitive offerings. Black warned of a vicious cycle where declining turnover forces legitimate operators to cut back on promotions and value, further discouraging players.
“Ultimately, if online is feeling the pinch, then the punter is going to feel the pinch,” Black said, predicting a bleak outlook unless decisive action is taken. His appeal underscores the need for the government to safeguard the sport’s future while balancing regulatory measures.