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The British Horseracing Authority (BHA) CEO Julie Harrington has released a statement on the changes to the code on customer checks.
This refers to the new policies released this morning by both the Gambling Commission and the Betting and Gaming Council (BGC).
The Code on Customer Checks was published by the BGC, but was co-written by the Gambling Commission.
Harrington said: “We are reassured that the Government has listened to Racing’s long campaign against the affordability checks it first set out in its White Paper more than a year ago.
“It is also to the credit of racing fans, and the wider racing industry, that their lobbying of Government, whether through taking part in our ‘Right to Bet’ survey or signing the petition to trigger February’s Westminster Hall debate, has so clearly been heard.
“While today’s announcement on increased thresholds for affordability checks is a move in the right direction, it does not yet secure a more sustainable future for racing’s finances.”
The BHA Code on Customer Checks will be voluntary and will be asked of customers when they make rolling net deposits of £5,000+ ($6,240) monthly.
She continued: “We remain concerned that there is no update on the Government’s review of the Levy, promised more than a year ago, and the threat that represents to Racing’s financial wellbeing.”
This new process will be used in tandem with the new Gambling Commission’s financial vulnerability checks.
Harrington concluded: “It is also vital that new rules on Anti-Money Laundering checks are set out as soon as possible to avoid racing bettors being caught up in separate requests for financial documents.
“We will continue to work collaboratively with the Secretary of State Lucy Frazer and Sports Minister Stuart Andrew to secure a review of the Levy that delivers a sustainable funding model for Britain’s second most-watched sport, safeguarding thousands of jobs and an economic lifeline in Britain’s rural communities.
“It remains our belief that the simplest way to do this is to increase the basic rate of Levy and include bets taken on overseas racing to put our sport on a level playing field with other jurisdictions.”
