'It has the potential to drive bookmakers away' - course layers under threat as banks close accounts

Banks are closing long-standing accounts and rejecting business from on-course bookmakers without giving reasons, leading to concerns that lenders are "backing away" from the gambling industry and prompting layers to lobby MPs for fear they may no longer be able to operate.

The Federation of Racecourse Bookmakers said the problem had snowballed in recent months, with banks shutting bookmakers' business and personal accounts, some of which had been used for decades.

Layers report communication with banks is limited but the recent crackdown is thought to be related to concerns over money laundering, although all members are licensed by the Gambling Commission, which has specific measures to halt stolen money being exchanged.