Owners' body calls on members to be granted 'common sense exemption' from affordability checks

Owners should be exempt from affordability checks due to their investment into the rural economy and the risk of them turning away from racing if they are unable to bet on their horses, according to the Racehorse Owners Association (ROA).

The owners’ organisation revealed on Tuesday that its submission to the Gambling Commission, as part of the consultation into the government’s white paper on betting legislation, detailed how anyone who owned the equivalent of at least one horse, either as a whole or in shares, should not face any of the affordability checks proposed in the white paper.

The consultation into the proposals in the white paper closed last Wednesday. Among the potential measures that had been set out within it were the requirement for 'financial risk checks', as affordability checks have been termed, if a bettor loses £1,000 within 24 hours or £2,000 over a rolling 90-day period.

Such checks could involve the bettor having to disclose sensitive personal financial information, such as bank statements and P45s, to enable them to keep betting.

ROA chief executive Charlie Liverton said it was “clearly bizarre” that owners could spend substantial sums on buying, racing and breeding horses but were being subjected to checks by bookmakers to determine whether they could afford to gamble.

He said: “The role of the ROA is to represent and defend the interests of owners and to promote racehorse ownership.

“It is clearly bizarre that an owner can spend tens of thousands of pounds, or more, purchasing a racehorse and further tens of thousands of pounds on training fees, both without any affordability checks, and then face potentially intrusive financial checks if they lose more than £2,000 over 90 days betting on them.

“It is hard to imagine that racehorse owners are the people the government and the Gambling Commission have in mind with these affordability checks, so we therefore proposed a common sense exemption.

“Stuart Andrew, the [gambling] minister, has always made it clear that he does not want to do anything to damage horseracing and that this is a genuine consultation where sensible proposals will be taken on board. He can prove that to be the case by agreeing to our proposal, which would certainly provide a welcome boost to the sport and to owners.”

According to the ROA’s submission, owners invest £32 million a month into the rural economy by way of training fees, with the overall annual investment being £650m when purchases are also taken into consideration.

The flow of money into the sport and rural economy from owners has come under threat due to the impact of affordability checks already taking place on gamblers by bookmakers under pressure from the Gambling Commission.

Harry Herbert: racing could be 'ripped to pieces' by affordability checksCredit: Laura Green

Harry Herbert, managing director of Highclere Thoroughbred Racing, said he feared British racing could be “ripped to pieces” by the impact of owners not being able to bet on their horses, while other owners have started to reduce their involvement in the sport or moved to betting on the unregulated black market, in the process denying the sport income through the levy and via media rights payments.

The ROA’s response to the consultation was backed by owner Max McNeill, who has enjoyed major successes with the likes of Grumeti, Walkon, The Worlds End and Threeunderthrufive.

McNeill, whose business sponsors the Ultima Handicap Chase at the Cheltenham Festival, owns or part-owns 30 horses in training, and said: “For many people like me, having a bet on your horses is a big part of the fun of being an owner. If these affordability checks mean that effectively I can only have a very small bet, or indeed have an account closed for no good reason, then I will certainly consider reducing my involvement significantly.”

Read these next:

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Racing's financial ecosystem on the line warns Jockey Club chief as he urges response to pivotal affordability consultation 

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