No love for betting in this cold climate - and a chill factor for racing

The political wind certainly seems to be blowing from a much chiller direction as far as the betting industry is concerned since Theresa May became prime minister – and racing might catch a cold too.

The news that the government will be reviewing gambling advertising has not been officially announced, but it was mentioned as part of a previous newspaper story hailing a crackdown on gaming machines last month that also had the look of a political plant.

The City certainly took this as bad news for the sector, with Paddy Power Betfair shares down by more than three per cent, William Hill down by more than four per cent and Ladbrokes down by more than five per cent.