£3 Billion Crisis: Affordability Checks Are Killing British Racing and How to Save Our Sport

The Final Furlong Podcast

News, Sports, Sports News

4.8 • 1.6K Ratings

🗓️ 10 December 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

British horse racing is in crisis. Betting turnover has plummeted by a staggering £3 billion in real terms over just two years, driven by invasive affordability checks and mounting regulatory pressures. In this episode of The Final Furlong Podcast, Emmet Kennedy sits down with two titans of the industry—Geoff Banks, CEO of Geoff Banks Bet, and Jockey Club CEO Nevin Truesdale—to uncover the truth behind racing's financial meltdown. Together, we dissect the failures of affordability checks, the Gambling Commission’s controversial approach, and racing’s struggle to innovate in a competitive betting landscape. With £3 billion on the line, can the industry rally to save itself? Don’t miss this urgent and unfiltered conversation about the future of British racing. Subscribe now and join the debate. The Final Furlong Podcast is proudly brought to you by Geoff Banks Bet. Join the excitement and Sign up to Geoff Banks Online now with promo code FFP500 and get 10% of any net losses returned as cash after your first month of betting, up to £500 at geoffbanks.bet. Its tradition redefined with modern tech and unbeatable odds. This episode is brought to you by BetterHelp. If you’re thinking of starting therapy, give BetterHelp a try. It’s entirely online, designed to be convenient, flexible, and suited to your schedule. Our listeners get 10% off their first month, so give online therapy a try at betterhelp.com/FURLONG. Apple: https://apps.apple.com/gb/app/geoff-banks-online/id881898186 Android: https://play.google.com/store/apps/details?id=com.geoff_banks.geoffbanks Form Tools: Proform is the essential tool for punters looking to make money from betting on Horse Racing. Our form book covers Jumps and Flat racing in the UK and Ireland. https://www.proformracing.com/ Twitter: @FinalFurlongPod Email: [email protected] In association with Adelicious Podcast Network. Hosted on Megaphone. Follow us for free on Spotify Podcasts https://open.spotify.com/show/3e6NnBkr7MBstVx5U7lpld Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This episode is brought to you by Pepsi Max.
0:03.0	As women's football goes from strength to strength,
0:06.0	Pepsi Max wants to help inspire the next generation to even greater success.
0:10.0	So, just like they are with the men's league,
0:12.0	Pepsi Max are proud sponsors of the UEFA Women's Champions League.
0:16.0	And Pepsi Max are also supporters of inspiring players like
0:20.0	Millie Bright and Leah Williamson,
0:21.9	who really helps showcase what can be achieved in the sport as it reaches ever higher levels.
0:27.0	Pepsi Max, Girsty for more.
0:31.1	The final furlong podcast is proudly brought to you by Jeff Banks' bet.
0:35.4	Get up to 500 pounds refunded as real money for new Jeff Banks online accounts after your first month of betting.
0:41.2	Use promo code, FFP 500 at jeffbanks.
0:45.0	Welcome to the Final Forlum podcast, I'm Mous Kennedy.
0:47.2	It is great to have your company.
0:48.5	Something a little bit different today.
0:49.7	I'm joined by two special guests as we talk about a massive story that really we've been covering on this show for quite some time.
0:55.6	But it is one of the most critical discussions in British and Irish racing, but particularly the future of British racing.
1:01.4	And that is restrictions, affordability checks and a $3 billion in real terms black hole that racing has fallen into over the last two years.
1:09.5	A devastating 25% decline attributed
1:11.5	primarily to affordability checks, checks which are aimed at curbing problem gambling, but have
1:15.9	driven many betters to unregulated markets or out of the game altogether. It's left racing
1:20.3	with a financial black hole as media rights, sponsorships, and the levy crucial funding streams
	...

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