UK Bookmakers Pledge Record Funding to Bolster British Horse Racing Amidst Affordability Check Concerns
UK bookmakers, under the umbrella of the Betting and Gaming Council (BGC), are digging deep with an unprecedented financial boost for British horse racing. They’re poised to deliver a staggering £105 million (approximately $133 million!) to the Horserace Betting Levy Board (HBLB). These funds are crucial for the sport’s survival, as it has experienced a downturn in both wagering income and track attendance lately.
Even with these hurdles, BGC members have steadily augmented their contributions, demonstrating their steadfast dedication to ensuring British horse racing thrives. Michael Dugher, the BGC’s top executive, highlighted the significance of this financial injection, labeling it a “vital support” for the sport and proof of the gambling sector’s commitment to its prosperity.
As horse racing profits dwindle, UK betting operators, under the umbrella of the Betting and Gaming Council (BGC), are seeking to mitigate the impact of impending government gambling reforms. A primary apprehension is the affordability assessment – a stipulation mandating that bookmakers examine their clientele’s economic standing.
In anticipation, the BGC recently unveiled a revised code of practice for evaluating customer finances. This framework, crafted with the endorsement of the Gambling Commission and government officials, aims to streamline the procedure and minimize intrusion for bettors, at least until the comprehensive financial risk evaluation regulations are implemented.
