“Going to Affect Everyone”: International Equestrians Express Concerns for Future Amidst $304,543,750 Financial Scrutiny

The British horse racing industry is facing the biggest challenge of this century. The sport relies heavily on the bettors spending money on their favorite racers. However, the government is in the process of introducing certain checks that will cost the industry over $250 million in revenue. As per the proposal, a bettor will have to prove to the government that they can sustain a loss as low as £1.36 a day to continue their pastime activities in the equestrian ranches. Is this the end of the British horse racing industry?

Popular equestrian organizations in the country, like the British Horse Racing Authority, Racing TV, At The Races, and the Racing Post, have deployed countermeasures against this policy. They have informed the government that they would walk away from broadcasting all horse-racing events, which would impact Britain’s GDP by £4 billion every year. Now, to tighten the knot even further, young trainers and jockeys have joined the movement.

Young equestrian trainers rally against affordability checks in British horse racing

There has been a swell of protest against the affordability checks since it was first introduced. Now, three young equestrian trainers from Newmarket have taken the lead in organizing a movement to challenge the “destructive” checks. Trainers George Scott, George Boughey, and James Ferguson are eager to trump up support for their movement.

Scott assessed the situation in a Racing Post interview to say, “It’s going to affect everyone from top to bottom…The industry is a massive employer and it’s financially struggling as it is. Asking people for their bank details is incredibly intrusive and could drive a lot of people to bet with the black market or walk away from betting on racing altogether”. He seemed to agree with the proposal’s central tenet of curbing people’s gambling habits, but the potential negatives outweighed the advantages.

Instead, he suggested that more money be diverted to research and implementation of alternatives to combat gambling addiction. To him, the complete erasure of the horse racing industry’s major source of income is both worrisome and ludicrous. While their movement is in full swing, the bookmakers are on the other side of the spectrum. They have begun their checks, and the impact is already apparent.

British horse racing owners deliberating closing shop

The Gambling Commission had put the onus of the checks on the bookmakers who are forced to comply with the new regulations. They have approached horse racing institution owners and asked to see their account books. The owners have also been advised to check the bettor’s personal financial information before allowing them to place a bet. In such a constricting condition, running a business will be extremely challenging. Therefore, many owners have hinted at their intention to sell off their business.

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Equestrian trainer James Ferguson can clearly see the future of British horse racing now. He predicted, “Obviously these checks are going to be detrimental to British racing but it’s one thing for us trainers to say what we think…It’s actually the role of the MPs who have racecourses or training centres in their constituencies to ensure common sense prevails”. With that smart plea, he has asked for more support for their movement. Now, it is still unclear if their efforts will bear fruit in the end; however, they are still optimistic.

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