RGM Calls the Horse Racing Industry to Provide Insights About the Gambling Act 2005

By Matt Speakman,
Betting Expert at online-gambling.com

Matt Speakman Betting Expert at online-gambling.com

A die-hard fan of the Patriots, Matt Speakman is an expert on everything related to sports betting and DFS sites. Over the years, he has proven a valuable asset for our team at online-gambling.com. You can find Speakman's professional tips and tricks in any of his many articles on the website.

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Last updated: February 28, 2022

According to the Racing Post, Martin Stevenson, Chief Executive Officer of RMG, encouraged racing investors to get involved in the 2005 betting law overhaul.

Stevenson specifically noted that the possible impact of the revision of the British betting act goes beyond the gambling industry and could affect the game. Horse racing obtains a significant £350 million a year funding from gambling taxes.

Racecourse operators have frequently touted the affordability audits as possibly “destructive” for horse racing, particularly after the economic drain of closures in 2020 and 2021.

Concerns About Television Ads Limitations

More concerns have been elevated about potential limitations on television ads, which race investors say could decline TV coverage of horse racing at a time when sports are looking to increase the viewers, as well as the effect of accessibility controls on player privacy and their next position.

“We think it is enormously important that the millions of people who enjoy the sport have the opportunity to explain their concerns to MPs and government,” – stated Stevenson.

According to him, this is very important in order to avoid possible decisions that could affect sports badly.

This February Racecourse Media Group is partnering with BGC to enable its investors to reach local legislators through an online portal to raise any issues about the revision of the betting laws. Racecourse Media Groups reveals that more than 5000 emails were sent to MPs.

Remarking on this, Stevenson noted that it allows them to have confidence that the coming rules of the game will not violate their civil freedoms and rights to choose how they live their lives.

The white paper of the British betting law is predicted to be reviewed in the spring and while the result is still unclear, the UK Gambling Commission will also be reviewing the regulatory framework, such as the ban on high-quality T-shirt sponsored deals among clubs and bookmakers.

However, Chris Philp, the minister overseeing the DCMS review, has confirmed to the racing industry that the state is working to assure that the lawmaking does not “destroy” the economic health of racing in the UK.

MPs Also Represent Constituencies

Many current Conservative Members of Parliament also favor areas where horse racing is a major business and a famous game. Treasury Prime Minister Rishi Sunak, whose North Yorkshire constituency in Richmond includes Catterick Racecourse, has also raised concerns about accessibility controls.

Philp not only relaxed the races but also reduced some of the betting industry’s concerns about availability controls, saying that the hundred pounds cost control was “undesirable, unruly, and unnecessary to the risk.”

The possibility of checks, which demand clients to give bank statements or payrolls as attestation after they have spent hundred pounds a month, has been explained as having a “destructive” effect on the racecourse’s assets.

This month, RMG started their search for a new chairman considering that the current chairman Roger Lewis will resign his position later this year.