UK racing authorities call for investment

The Racecourse Association chairwoman called for the racing industry and bookmakers to work together and get the segment to grow.

UK.- British racing is one of the most traditional segments betting revolts around but the industry reports there’s a “pressing need” for racing officials to work with bookmakers to help betting to grow. Racecourse Association (RCA) chairwoman Maggie Carver insisted on the topic and set the goals for the industry in the near future.

“Racing is critically dependent on betting income and there is a pressing need for the industry to work with bookmakers to invest in initiatives to grow racing betting,” she asserted during RCA’s annual report and said: “As part of the new arrangements for the Racing Authority, the RCA has been at the forefront of setting up the Betting Liaison Group, which we hope will form the basis of a new and constructive relationship with bookmakers.”

According to Ms Carver, the RCA is setting up a “Betting Innovation Group” that will report to the Betting Liaison Group in order to strengthen relationships with bookmakers.

Racing could lose an estimated €44.6 million to €66.9m in income from the betting industry as a result of shops being forced to close after the government’s decision to cut FOBT stakes to €2.2. “It will be critical for us to be disciplined and effective in the way income is spent,” the RCA chairwoman said.