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UKGC’s Proposals May Lead to Losses in Racing Sector

12 January 2021, 11:09
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The information about a draft letter to the UK government has appeared in the latest betting news. According to it, the horse racing vertical has a chance to suffer considerable losses if a new set of restrictions comes into force.

UKGC’s Proposals May Lead to Losses in Racing Sector

It is still unknown who has written a letter. However, presumably, this is bookmaking operators’ try to protest against measures, which can damage the sector.

UKGC sees harm, operators predict losses in revenue

The main topic of the letter is possible losses in the horse racing market’s revenue. It is expected that the Gambling Commission’s intention to impose more restrictions will result in sixty million pounds of lost revenues. The reason for this is decreased betting fees and less broadcasting rights.

The text’s author has also noted that the restrictions won’t help much to protect bettors from problem gambling but will undoubtedly influence the financial state of the market negatively. Betting on racing is considered in the letter as skill-based entertainment that doesn’t have a direct relation to gambling and much more to addiction. However, the UKGC members are sure that it is necessary to take more control over the vertical and its participants as operators often don’t understand all the risks and don’t pay much attention to limits.

Read more: The history of betting on horse racing

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