Racing faces 'existential threat' if rigid bet limits imposed warns pro-punter

Professional punter Neil Channing has warned of the potential "existential threat" to racing should stringent affordability checks on betting be imposed as a result of an ongoing Gambling Commission consultation.

Jim McGrath, the well-known racing broadcaster, punter and former Timeform chairman, has also spoken of his concerns about the imposition of new "one-size-fits-all" rules on betting.

The industry regulator's consultation on "remote customer interaction" includes enhanced affordability checks to tackle problem gambling. It raises the possibility of the introduction of a threshold on net monthly gambling loss of as little as £100, which would lead to customers having to provide evidence they could afford to lose more.

British racing's leaders have warned that could cost the sport £60 million in lost income from the levy and media rights.

Channing has been vocal in describing his fears about the possible consequences of the consultation, which he said could "have a big effect on the amount that people can gamble and obviously the funding of racing".

He added: "If they go with £100 a month I don't think it's an exaggeration by the companies to say turnover on horseracing would halve and that 37 per cent of customers would be affected by that.

"My reasons for talking about this, and for banging on about it quite a bit, was because I think horseracing literally might not exist because of this."

MPs with racecourses and racing interests in their constituency have been contacted by the sport to alert them to racing's concerns about the consultation, which is taking place separately to the government's review of the Gambling Act.

Chancellor of the exchequer Rishi Sunak, who has Catterick in his constituency, has contacted his cabinet colleague Oliver Dowden, whose culture department oversees gambling and racing, as a result.

Neil Channing: 'I don't think I was overegging the pudding at all'

However, Channing believes many in the sport are still unaware of the dangers it faces.

"I feel if you did a survey of Newmarket trainers and asked them to list in order the things they are most worried about, this would come really low down and it should be top on every single list," he said.

"People were quite surprised I said it was an existential threat and I don't think I was overegging the pudding at all. I definitely think it is."

He added: "I've heard plenty of people complaining about prize-money being down because of coronavirus, that is going to look like a holiday compared with what it might look like in three years' time if this stuff comes in."

McGrath said he believed the aims of the consultation were well-intentioned but that the onus should rest on betting operators.

He said: "I hope I'm a responsible punter and that if I suddenly started behaving oddly with the people I bet with regularly, somebody would turn round and say 'Are you sure you are happy with what you are doing?' I think in circumstances like that people are entitled to say that they are duty-bound to ask.

"The fact is that everybody's different and everybody responds differently. I think it is almost impossible to come up with a suitable one-size-fits-all solution, and I think if they try and do that they could run into quite a lot of resistance.

"The best way forward is to draw up a series of trigger responses that would enable operators to take action where they felt there was a need."

McGrath said he accepted there was a requirement for the issue to be looked at. However, he added: "I don't want to be treated as a problem when I know I'm not one. I would suspect thousands of punters feel the same way."

Read more:

Chancellor Rishi Sunak listens to fears over affordability checks on punters

Affordability checks could drive punters away from racing says bettors' forum

Punters' body sounds warning on review's proposed affordability checks

Spend limits considered as gambling review is launched by government

Gambling Commission issues final warning to industry over VIP schemes

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