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

British racing has been told not to miss the opportunity to have its say in the consultation on affordability checks, which closes on Wednesday, given the risk they pose to the sport's future and its contribution to communities and jobs.

Jockey Club chief executive Nevin Truesdale is the latest industry heavyweight to call for racing's fans and participants to make their voice heard as he warned he faced difficult decisions on prize-money and investment as a result of the intrusive checks already in place.

Arena Racing Company chief executive Martin Cruddace last week wrote to culture secretary Lucy Frazer in a letter backed by industry leaders including Truesdale to say the checks could cost British racing £250 million over the next five years.

Last chance to have your say

The Gambling Commission has been consulting on the proposals for what were described as financial risk checks in the government's gambling white paper published in April.

The measures involve two tiers of checks on bettors, the first for those who lose as little as £125 in 30 days or £500 in a year, the second more detailed checks for those with net losses of £1,000 in 24 hours or £2,000 in 90 days.

More than 14,000 racing punters have described their feelings over the proposals in the Right to Bet survey published this week, in which more than half the respondents said they were prepared to walk away from the sport or reduce their involvement as a result of the checks.

More than one in four have already been subject to affordability checks introduced by operators in anticipation of the white paper, something Truesdale described as "colossal" when extrapolated out to racing's fanbase.

He added: "What we need to talk about is the knock-on effect that has to racing's financial ecosystem. Ultimately this is people's jobs we are talking about.

"That is where this finishes up and that is not just in yards, that knocks on into the breeding industry and into all of those ancillary industries like the farrier, the transporter, the vet. Taking that to its logical conclusion the local corner shop in those communities would be impacted as well.

"Racing has a huge impact on the economy, on communities, on jobs and this is putting that at risk. That's why it is important people have their say and respond to this."

Truesdale also described the impact of the checks at the Jockey Club, the largest employer in British racing and the owner of 15 racecourses including Aintree, Cheltenham, Epsom and Newmarket.

"I am seeing significant impact on my numbers at the minute," he said. "Our online [betting] turnover is down in some months by double-digit percentages year-on-year.

"At a time when field sizes in most parts of the programme are up, your opening assumption is that your betting turnover would go up.

The Jockey Club, owner of tracks such as Aintree, is having its finances impacted by intrusive affordability checksCredit: Edward Whitaker

"It's an element of our business that was previously growing five and ten per cent a year. Now some months it is declining at that same rate."

Truesdale said the current landscape made planning ahead even harder than in the midst of the Covid-19 crisis.

He added: "Basically we are being squeezed from both sides. General demand is holding up quite well, but the fact is our costs are growing faster than our income.

"Ultimately that is going to squeeze the amount we can commit to prize-money and to infrastructure and customer investment, certainly this year and possibly the year after.

"This has had a very material impact on us this year and it's leading me to the most difficult budget rounds I've ever known in the time I've been here."

Truesdale said the government had to address the issue of problem gambling but that the measures it put in place should be "targeted, proportionate and rational, because what we have at the minute is not rational".

He added: "The whole concept of a check doesn't actually work. All it does is put friction and issues in place for people, most of whom bet perfectly safely. It won't actually solve the problem. It will drive some to give up, or more likely the problem gambler will find a way to gamble.

"I think it is a significant infringement on personal freedom. I fail to see why gambling shouldn't be enjoyed perfectly safely like any other leisure activity is enjoyed by people. It is a flawed ideology – that is what we are dealing with here."

Gambling Commission chief executive Andrew Rhodes has this week acknowledged the opposition from British racing to the proposals contained within the consultation, and said the regulator was "not ignorant of the challenges the sport faces".

In a speech to the International Association of Gaming Regulators, he said: "The issue we are consulting on that has upset some supporters of horseracing – financial risk checks – is not about attacking horseracing."

The government has promised any checks will be completely frictionless, but Rhodes added: "We are looking to do this as frictionlessly as possible, but ultimately the government wants us to manage the risks from excessive gambling."

• To complete the Gambling Commission's consultation on affordability checks, visit racingpost.com/consultation and follow the instructions.
• The Racing Post also wants to hear from you: What has been your experience of affordability checks since the white paper was published at the end of April, and what do you think of the government's proposals? Have affordability checks affected your betting behaviour?
• Email the Racing Post at editor@racingpost.com with the subject 'Affordability checks' to share your experiences, your thoughts about the government's proposals, and your contact details.

Read these next:

'It's incredibly worrying' - young trainers express fears for British racing due to affordability checks 

Affordability checks consultation is closing - now the Gambling Commission must show us it was a genuine consultation 

More than half of punters prepared to bet significantly less or walk away from racing over affordability checks, survey reveals 

Sign up to receive On The Nose, our essential daily newsletter, from the Racing Post. Your unmissable morning feed, direct to your email inbox every morning.