The UK horse racing industry is going to be hit with a £60m in losses, as reveals a template letter to the MPs. The letter is finding its way, circulating within the industry. Many believe that he loss of 60 million is a result of the extensive and increased affordability checks on players. The letter also calls on lawmakers to pressure the United Kingdom GC to re-think its approach. The person behind the letter is unknown. The author drafted it after an agreement amongst the most prominent power brokers who believe a push back is needed.
What Does the Letter Predict about the UK Horse racing Industry?
As seen and reported, the letter begins with saying that the writer of the letter is reliably informed that the proposals of the UKGC would result in direct losses of £60m to the UK racing industry. It is a result of the reduced media rights income and the Horserace Betting Levy. These numbers will be amplified when it comes to the broader total economy. It could result in the closing down of the racecourses.
The letter proposes UK horse racing to be treated differently than UK casino gambling because it is skill-based. They believe that being on-the-ground gambling and not readily available online would make it less likely to cause problem gambling. The letter also claims that the UK racing fixture list and its calendar' design aim to provide a compelling, safe, and fair betting product. It has managed to endure the test of time, and it promptly evolved with society's evolution.
The Letter Delves Deep into the Consultation and its Goals
The author of the letter stated that the proposed action of the UKGC is disproportionate to the small number of players that are problem gamblers because of horse racing. He also believes that it is a massive invasion of the free society's personal liberty. He also stated that this is a time where the industry is trying to recover from recent events. It added that this would significantly cause a setback in such recovery.
There isn't any clear explanation of how the letter came up with that specific number. There is no comment from the horse racing industry. However, it seems that it was established based on the assumption of a threshold of £100 for affordability checks. It seems that the UK horse racing industry officials are still in the process of assessing the situation.
The gambling commission's spokesperson said that they need more action. It is a direct result of the failings of some internet wagering firms. While some online operators enhance their process and checks, evidence showed that others do not set action thresholds at the needed levels. Some are even not taking the necessary action, and they are not acting quick enough to identify and prevent gambling harm.