Minimum margin proposal would be bad for punters – and bad for racing

Racing is finally waking up to the reality that the huge chunk of cash it earned from FOBTs-dependent betting shops was as transient as summer, but judging by recent comments from the sport's leadership the fact this income was almost entirely undeserved – and that attempts to replace it should be based on the sport's robust commercial appeal rather than a misguided sense of entitlement – has yet to fully percolate through.

Naturally alarmed at the prospect of potentially losing between £40 million and £60m in media rights and levy revenue per year due to anticipated betting shop closures following government restrictions on FOBT stakes, racing has sought to shore up its finances by a number of other measures.

The latest wheeze, raised previously by senior industry figures but floated again this week by Racehorse Owners Association president Nicholas Cooper in his organisation's annual report, is to persuade government to institute some form of minimum margin for online bookies betting on racing. It is a proposal that ought to go no further.