Stricter gambling laws could result in 1,000 job losses in horseracing industry, ministers warned
STRICTER gambling rules risk a jobs bloodbath in rural communities, ministers have been warned.
Planned affordability checks on betters could put as many as 1,000 stable staff out of work due to the impact on the horse racing market.
Industry bosses sounded the alarm ahead of a Westminster debate next Monday on the contentious proposals.
Under the government crackdown anyone who loses just £125 in a month period or £500 in a year would trigger a financial alert.
But MPs have been forced to further scrutinise the plans after more than 100,000 people voiced opposition in a petition.
A debate will take place at Westminster on Monday.
New analysis from Regulus Partners reckons between 600-1,000 stable jobs could be lost as a result of lost horse racing profits – estimated as much as £50million per annum.
British Horseracing Authority Chief Executive Julie Harrington said: “The latest data, which highlights the terrible scale of job losses that could result from these checks on betting as currently proposed, showcases yet again the importance of this issue and the need for Government to get it right.”
A DCMS spokesman said: “Horse racing is an integral part of British sporting culture and heritage, and we are committed to a sustainable future for the sport.
“This is why we have committed to reviewing the horse race betting levy.
“But it is important that we also take steps to minimise the risk of gambling related harm, which is why we are introducing light-touch, frictionless checks to protect people from potentially life changing losses.
“Industry-run financial risk checks are currently inconsistent, onerous and ad hoc, and our proposed checks are designed to streamline the process for the overwhelming majority of accounts.”