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This afternoon, families will awaken from their post-Christmas hibernation and set out for a day at the races.
For many, this activity has become a cherished tradition handed down through generations, with trips to well-loved venues such as Kempton Park, Aintree, Wetherby, and Wincanton, along with Fontwell and Sedgefield, creating an ideal setting for quality family time during this holiday season.
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Credit: Getty
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Credit: Getty
Today, eight races are planned, drawing not just tens of thousands through the gates but also countless viewers at home who will watch the action live on ITV and potentially place some bets while they watch.
Over the years, horse racing has become an integral part of British culture, with the marquee event, the Ladbrokes King George VI Chase, a long-standing highlight of the Boxing Day sports calendar.
This race plays a pivotal role in shaping careers and forging legends.
Desert Orchid celebrated victory four times, while Kauto Star claimed it five times, both adored by passionate fans who return to see the next chapter unfold today.
In addition to admiring the skills and courage displayed by the horses and riders vying for sports glory, many attendees enjoy unraveling the intricacies of each race and betting on their favorites, which contributes to the enjoyment of this day—and the sport itself.
Regulatory Challenges
Unfortunately, bettors are facing escalating difficulties, and if the current circumstances continue, racing could incur substantial losses.
Even though horse racing has lower problem gambling rates compared to other activities, the industry has faced challenges in recent years from stringent affordability checks imposed by betting operators.
The government has labeled these checks as “inconsistent and burdensome,” often requiring personal documentation like bank statements or pay slips, even for low-level spending.
Our 2023 Right To Bet survey, which reached over 14,000 respondents, indicated that a quarter of racing bettors had faced such checks.
Many individuals are frustrated, perceiving this as an infringement on their right to manage their disposable income as they choose.
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Some have turned to the illegal betting market, finding it easier to gamble with unregulated bookmakers.
Consequently, the online racing turnover has experienced a £1.5 billion decline as of March 2024, according to Gambling Commission data, without any substantial change in the overall problem gambling rate.
The Gambling Commission is investigating frictionless methods for conducting financial checks on bettors that do not disrupt the customer experience.
If such measures are enacted, they must be genuinely smooth and not dissuade bettors or drive them to illegal betting platforms.
It has been nearly two years since the previous administration released its White Paper on gambling, raising concerns that the persistent feedback and experiences of bettors have not been adequately addressed.
The racing industry simply requests that checks on punters be fair and just—if someone exhibits signs of gambling difficulties, then bookmakers should be obligated to step in and perform checks on that individual.
However, if a bettor does not show such behaviors, they should be permitted to wager as they see fit.
It is not solely the betting regulations that are financially burdening racing.
We are vocally advocating for significant reforms to the Horserace Betting Levy, which is the sport’s primary funding source.
This Levy has not increased since 2017, and its inability to adapt to economic realities is negatively impacting the sport.
We are falling behind our nearest competitors in Ireland and France.
Their superior prize money is a primary reason many top horses are relocating abroad.
Even a minor increase in the Levy could have a transformative effect on British racing and boost our competitiveness on a global scale.
Why is this significant? British racing is more than just a sport.
It is a cultural treasure that significantly bolsters our country’s global soft power, featuring prestigious events like the Derby, Royal Ascot, and the Grand National, which are celebrated worldwide.
Additionally, it is an economic powerhouse, contributing £4.1 billion annually to the nation’s economy, as the second most-viewed sport in the UK.
At least 85,000 jobs in Britain are directly or indirectly tied to British racing.
Furthermore, it is the lifeblood of many communities, both urban and rural.
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Credit: Getty
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Credit: PA
Racecourses—there are 59 throughout Britain—serve as essential gathering places for our communities.
These locations allow families—where, unlike many sports, children under 18 can enter for free—to come together with friends and colleagues to relish a day of camaraderie, enjoyment, and perhaps, with a bit of luck, a winning wager or two.
Racing presents a wonderful day out for individuals of all ages and backgrounds.
Only at a British racecourse can you experience all levels of society—ranging from a road sweeper to our King or Queen—mingling in shared enjoyment.
This sport deserves government support for all the positive contributions it provides to our nation and its people.
Clearly, the British public continues to hold the sport dear, as demonstrated by stable attendance figures over recent years, despite many feeling the pinch of tighter budgets.
Furthermore, major events such as the Cheltenham Festival, the Grand National, and Royal Ascot have remained not only significant dates on our national sporting calendar but also highly anticipated highlights on the global stage.
The unintentional consequences of well-meaning yet misdirected policies are stark. Unless changes are made, future generations of families heading to the races this afternoon may find themselves experiencing a drastically different Boxing Day.
