Belt-tightening looks inevitable for racing following William Hill decision

Now we know that bookmakers were not crying wolf when they said that large-scale betting shop closures were inevitable following the government's decision to curb FOBTs.

The wolf's teeth may not be quite so big as when ministers originally said they would be slashing the stake on FOBTs to £2 from £100, or as fearsome as when the industry was predicting 4,500 closures. But families all over the UK will be affected by job losses and the closures will take a major bite out of betting shop numbers and British racing's income as a result.

The 700 shops William Hill have confirmed to shut, along with the 900 Ladbrokes Coral's owners GVC said are at risk, are not quite as many as both firms first predicted.