The black market for betting is a “significant threat” as a result of affordability checks, according to a survey conducted by Racecourse Media Group (RMG). The survey revealed that 15% of respondents either bet or know someone who bets with an unregulated bookmaker. RMG, which manages the media rights of 35 British racecourses and is the parent company of Racing TV, saw a decline in betting turnover on the sport last year due to the impact of affordability checks driving punters away from the regulated market.
Martin Stevenson, CEO of RMG, stated that the survey is clear evidence of the substantial nature of the black market and the negative impact that affordability checks are having on the industry. Nearly a quarter of respondents (22%) reported being asked for personal information, with 50% refusing to comply, demonstrating a rejection of this intrusion on their leisure activities.
In addition, RMG has seen a decline in online betting turnover on horse racing in 2022, which Stevenson believes should be a cause of concern for all involved in the industry. He shared the survey results with the Gambling Commission and hopes they will take them into consideration in their assessment of the black market.
Although four-fifths of respondents did not want to see mandatory limits imposed by bookmakers, 92% stated they would consider using a different bookmaker if no personal information was required. The CEO of RMG emphasized the importance of considering the attitudes of consumers in the ongoing work on the Gambling Act Review, as applying universal limits does not recognize the wide range of natural betting behaviors, events, and individual financial circumstances.
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