‘Terrifying’ impact of affordability checks leaves racing in this country on a knife edge

IMAGINE any UK Government that decides how you, the people, can spend your hard-earned cash.

You wouldn’t stand for it. It’s hard to believe members of Parliament would allow it.

The threat of affordability checks could have a seismic effect on racing in BritainGetty

But while we wait for a white paper on gambling the scenario is more real than many of you might imagine.

And it’s why a debate in Parliament this afternoon – brought about by over 100,000 people signing an e-petition titled ‘stop the implementation of betting affordability/financial risk checks’ – is one of the most important ever to be held in Westminster.

It’s billed to be primarily about what are now controversial affordability checks, which may or may not be frictionless, carried out by bookmakers on punters supposedly to protect players from gambling online with money they cannot afford to lose.

But it’s actually about so much more than that.

Because if these checks do come in, Government is essentially saying it will decide how the general public can spend their money.

That’s YOUR money. An MP’s job should always be to defend your liberty to spend your dosh how you like.

People who don’t gamble struggle to understand the industry. That includes MPs.

The perception for many is that all gambling is bad. But it’s crazy to think like that.

You don’t become a degenerate gambler by having a bet. Or by purchasing a Lottery ticket.

Oddly, although perhaps understandably considering the outrage it would cause, no checks are being considered for Lottery purchases.

For a few, gambling can be catastrophic. It can ruin lives. But so can smoking, drinking, eating and maxing out your credit cards on clothes.

Fixed odds betting terminals, known to many of you as fruit machines, can be addictive.

Most would probably concede that to a reasonable degree the public should be protected from them.

They are games of chance will little hope of winning.

However, many of those who bet on horse racing, or greyhound racing, put considerable time into their selections. They should be considered games of skill.

Essentially, though, around 99 per cent of the public can have a gamble and exist perfectly happily.

In the world of horse racing affordability checks are already proving to be crippling.

Indirectly everyone reading this benefits from what has been often known as the Sport of Kings.

British racing is a world-leading industry worth £4.1billion annually to the UK economy, generating £300million in that time in taxation.

In 2023 it welcomed nearly 5million racegoers to 59 racecourses across England, Scotland and Wales while being the country’s second-largest spectator sport and numbering 85,000 jobs.

Because bookmakers have pre-empted a strike from Government, affordability checks are already rocking the industry, and many players are turning to the black market which is unregulated and benefits none of you reading this.

It’s thought affordability checks will result in 1000 stable staff being laid off. That’s one in every seven.

In cost it’s estimated the industry will lose £50m per annum. Essentially, that means the UK would go from being a world leader in horse racing to a has-been.

The big question is why pick on all areas of what people perceive is gambling?

Surely FOBT rules can be separated from an industry like horse racing?

If these checks come to fruition in anything other than a completely frictionless way – something that is nigh on impossible – a small bet on the Grand National or, in football, the Manchester Derby will turn into a nightmare.

Yet many MPs will still effectively punt on stocks and shares and crypto currency. Or gold, art and fine wines.

London-based litigator Harry Stewart-Moore told me: “We are now ending up in a situation where we have got operators asking customers to log-in to their online banking and go through it with them.

“It is absolutely terrifying. It shows already how utterly misguided the Gambling Commission (an unelected group seemingly formed of many non-gamblers) and Government are in thinking that the answer to the problems in gambling is to increase the regulatory role of bookmakers.”

Bookmaker regulation needs to be tightened up via their compliance teams and of course all steps should be taken to protect the vulnerable in any walk of life.

Affordability checks are not the way to do it. And none of you should stand for it. Where will it end?