Owner-breeder and Betfair co-founder Andrew Black fears there is “more to come” as the spiraling impact of falling betting turnover on the sport hits British racing.
Black called on the government to protect the sport due to its cultural and economic importance by separating it from other forms of gambling such as casino products.
His comments came after new figures revealed a fall in online betting turnover on the sport of more than 25 per cent in real terms, the equivalent of a £3 billion black hole.
Gambling Commission statistics showed that online racing turnover had fallen to £8.37bn in the year to the end of March, compared to around £10bn two years previously. However, if it had grown in line with inflation over that period it would have been closer to £11.5bn.
