Grand National cancellation a “devastating blow” for bookies

Biggest betting race of the year cancelled because of the coronavirus outbreak, with bookmakers set to lose £100 million in revenues.

UK.- The Grand National, the biggest betting race of the year, has been cancelled due to Coronavirus.

The announcement was made by Jockey Club Racecourses, and will deliver a devastating blow to bookmakers.

According to local press, Betfair spokesman, Barry Orr, expects bookmakers to lose more than £100m in revenue.

“From a betting perspective, it is a serious body blow. Not only is it the highest-ranking race in terms of turnover on sportsbooks and highest volume on the exchange, but it’s also an important period for companies to engage with the betting and wider public”, he said.

Unibet’s Brett Williams agreed on the estimated scale of lost finances, but also supported the measure to cancel the event.

“The cancellation of the Grand National meeting is a devastating loss for everyone and will cost the racing industry millions at a time when we are already feeling the strain of a completely decimated sporting calendar – but it goes without saying the treatment and care of those suffering, or potential sufferers, of the coronavirus is paramount and Unibet fully support the decision made by racing’s governing bodies,” he said.

“This is an unprecedented situation we are all facing and it is extremely important the whole industry pulls together and adheres to the guidelines and reacts accordingly to all advice issued by the Government,” he added.

Simon Clare, PR director for Ladbrokes Coral, said: “The Grand National is the biggest betting horse race of the year, so its cancellation is clearly a blow to the sport, to betting operators and to racing fans. However, the wider public health situation that we are all facing is so serious and unprecedented that tough decisions are having to be made for all the right reasons, and this is clearly one of them.”