'Having a bet is part of ownership and it has just got more and more difficult'

In a new series, we speak to Post readers and racing fans about the impact affordability checks are having. Here, Lewis Porteous talks to Simon Prout

Racehorse owner and syndicate manager Simon Prout says it is inevitable his involvement in racing will be reduced due to the impact intrusive affordability checks are having on his gambling.

Echoing the thoughts of Grade 1-winning owner Carl Hinchy, who recently said he was quitting the sport because of the inability to strike a sizeable bet on his horses, Prout believes many owners will be considering their future in the sport having been restricted from supporting the horses they have spent thousands of pounds on to buy.

Salisbury-based Prout has six horses in training under his own name and has recently set up an affordable ownership syndicate named the 69 Club, with two horses in training with Seamus Mullins.

Prout also owns a successful van sales, contract leasing and hire company but despite attempting to appease bookmakers enforcing affordability checks with his financial records, he has seen the majority of his betting accounts severely restricted.

"Finding a winning horse is pretty difficult but [traditionally] having a gamble isn't and that's always been my philosophy," said Prout. "Having a bet is part of it [ownership] and it has just got more and more difficult.

"Not every owner wants to bet but, for a lot of us, it's a major part of the day out. Without any doubt whatsoever it [affordability checks and restrictions] will curtail my involvement."

Simon Prout: likely to consider betting on the black market if he can no longer stake with regulated bookmakers

Prout supports so-called 'frictionless' credit checks, something he uses in his own business to vet customers, but believes the guidelines set out in the Gambling Commission's consultation literature on affordability checks go way too far.

"I have people coming in asking if they can borrow the money to buy a van," said Prout. "They have an Experian check and the computer says yes or no. I advocated that [for bookmaker checks] and am pleased to see that has been introduced but the monetary levels at which checks are applied are ridiculous. It's hundreds of pounds rather than thousands, which is absolutely stupid."

The nature of his own business, which operates as a trading partnership rather than a limited company where accounts are available to the public, has made it next to impossible for Prout to satisfy the requests for information he has received from bookmakers.

"I've sent my accounts to bookmakers but because we're a van hire and rental company we're constantly buying more vehicles, therefore the government's annual investment allowances quite conveniently wipes out most of our taxable liability," he explained.

"Therefore when they ask for me to send in tax returns, it looks as though we're earning a pittance because the system allows us, quite legitimately, to reinvest money in the business and therefore our taxable profits are next to nothing. So we don't conform. I've been shut down on all the exchanges on affordability levels and have done the rounds."

Despite the obvious risks involved, the 62-year-old says he is likely to consider betting on the black market if he can no longer stake with regulated bookmakers. He also believes the new government legislation has the capacity to cause more harm to problem gamblers as they too turn to the unregulated market to bet.

"Racing won't see a penny of it [money bet on the black market] and, if whoever takes the bet decides not to pay you out, there's no recourse whatsoever and that is what will be happening," he said.

"The system will not stop people gambling, what it will do is increase the problems problem gamblers face. Problem gamblers will dig themselves into an even deeper hole through alternative measures."

• To complete the Gambling Commission's consultation on affordability checks, visit racingpost.com/consultation and follow the instructions.
• The Racing Post also wants to hear from you: What has been your experience of affordability checks since the white paper was published at the end of April, and what do you think of the government's proposals? Have affordability checks affected your betting behaviour?
• It's a chance for your voice to be heard. Email the Racing Post at editor@racingpost.com with the subject 'Affordability checks' to share your experiences, your thoughts about the government's proposals, and your contact details.

Your stories of affordability checks:

'Who the hell came up with this idea in the first place? It must be a small minority who don't like gambling' 

'My everyday life is shattered - these implementations will destroy my life and it's to appease a minority' 

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