BHA Blames Gambling Commission’s Risk Checks for Decline in Horse Racing Betting
The British Horseracing Authority (BHA) has pointed to the Gambling Commission’s introduction of financial risk checks as a key factor behind a continued decline in horse racing betting turnover in 2024. The annual report shows a 6.8% drop in total betting turnover compared to the previous year, with a 16.5% decline since 2022. However, concerns over the black market and adjustments to the race calendar also played a role in shaping the industry’s landscape.
Betting Turnover Decline and the Role of Risk Checks
According to the BHA’s 2024 racing report, the overall decline in betting turnover was less pronounced in the second half of the year, dropping by just 1%. Despite this, average race betting turnover still fell by 4%, and BHA believes the affordability checks introduced by the Gambling Commission were a contributing factor.
BHA director of racing Richard Wayman argued that the financial checks deterred bettors, either causing them to stop betting altogether or shift to unlicensed operators to avoid scrutiny. The risk checks, which came into effect in August 2024, require online bettors to undergo credit reference agency checks if they deposit £500 or more in a month. The threshold will be reduced further to £150 from February 28.
The Gambling Commission maintains that 95% of checks have been “frictionless”, meaning they did not disrupt players’ experiences. However, concerns remain within the racing industry about their potential long-term impact on wagering activity.
Surge in Black Market Gambling
The BHA’s concerns over illegal betting have intensified following a study by the International Federation of Horseracing Authorities (IFHA). Research led by James Porteous found a 522% increase in traffic to unlicensed gambling sites between 2021 and 2024, with bettors seeking alternatives to avoid regulatory restrictions.
In the first nine months of 2024 alone, the number of unique visits to 22 of the most popular unlicensed betting sites reached 600,000 per month. Total visits to these sites surged by 131% over four years, reaching 1.3 million per month in 2024. By comparison, traffic to 10 licensed British betting sites grew by just 25% over the same period.
Adjustments to the Race Calendar
In response to shifting betting patterns, the BHA has taken steps to optimize race scheduling. One key focus has been avoiding race clashes by better distributing races on Saturdays and limiting the number of events scheduled between 2pm and 4pm.
The report highlights that longer build-ups before major races—10 minutes or more—have helped increase betting turnover. Meanwhile, the percentage of Saturday race clashes before 5pm fell from 11.1% in 2022 to 5.8% in 2024.
The BHA also trialed 12 key targets aimed at strengthening horse racing’s presence in the betting market. A core element of this strategy was “premierisation,” which involved prioritizing high-profile events by increasing prize money and enhancing the quality of premier race days.
However, some challenges remain. Efforts to boost betting turnover on the 33 Saturdays with only three racing fixtures have produced mixed results. The report states that while winter Saturdays with three fixtures outperformed those with four, the same pattern did not hold in the summer.