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That is what's wrong with horse racing ###### like that .
Owner Tom Morley has all but ceased betting on racing due to the threat of affordability checks and mistrust of bookmakers having previously turned over up to £1 million a day across his sports wagering.
Morley, along with his mother Julia, has owned the likes of Royal Ascot winners Prohibit, Goldream and Outback Traveller, and continues to have horses in training, most notably the prolific-winning sprinter Quinault.
While he remains an owner, the hostile environment around betting, which has resulted in online turnover on British racing plummeting since 2021 and created an estimated £3 billion financial black hole in real terms, means his gambling has slowed to almost nothing.
The owner blamed this on affordability checks, which require punters to provide sensitive information to bookmakers to show they can afford to bet above certain thresholds, and the obstacles some layers place on customer withdrawals.
Morley said: “I’d say my personal betting is down by more than 99 per cent in the last few years and the main factor is there's absolutely no way I would share any of my personal financial documents with bookmakers, full stop.
“As a result, I’ve cut back my betting so I don’t find myself in that position and, to be frank, I'm not certain I'd be able to get my money back if I tried to withdraw it anyway, such is the rigmarole you have to go through now. I don’t need to bet. It's something I enjoyed doing and put hard work into, but with things being like they are, I take the view of, what’s the point?”
Morley, along with his mother Julia, has owned the likes of Royal Ascot winners Prohibit, Goldream and Outback Traveller, and continues to have horses in training, most notably the prolific-winning sprinter Quinault.
While he remains an owner, the hostile environment around betting, which has resulted in online turnover on British racing plummeting since 2021 and created an estimated £3 billion financial black hole in real terms, means his gambling has slowed to almost nothing.
The owner blamed this on affordability checks, which require punters to provide sensitive information to bookmakers to show they can afford to bet above certain thresholds, and the obstacles some layers place on customer withdrawals.
Morley said: “I’d say my personal betting is down by more than 99 per cent in the last few years and the main factor is there's absolutely no way I would share any of my personal financial documents with bookmakers, full stop.
“As a result, I’ve cut back my betting so I don’t find myself in that position and, to be frank, I'm not certain I'd be able to get my money back if I tried to withdraw it anyway, such is the rigmarole you have to go through now. I don’t need to bet. It's something I enjoyed doing and put hard work into, but with things being like they are, I take the view of, what’s the point?”
million a day? and did stints for William Hill radio for a few quid!
The bookies knowingly and deliberately are stifling horseracing betting to focus more on slots and gaming. And, the bookies have the gall to blame Accountability Check and the Gambling Commission for this predicament.
Mr Morley is correct to say he'll not give personal financial info to bookies regardless. I'd go further and say the bookies are unqualified and unprofessional to be trusted with sensitive clients financial info. The bookies will sell their grandmas to make a disingenuous point.
I'm not in the same betting league as Mr Morley yet I've cut back more than 70% on my horseracing expenditure. This can and will only increase if bookies continue to play silly games using horseracing clients and horseracing revenue disingenuously to beat the industry to try and achieve their objective ie to reduce further their horseracing reliance in their business strategy.
I firmly believe any disgruntled bookie ought to exit the industry. Either a bookie is in or out. They cannot do both eg 1/2 in, 1/2 out like present as it will only decimate and eventually destroy the horseracing industry and betting.
Mr Morley is correct to say he'll not give personal financial info to bookies regardless. I'd go further and say the bookies are unqualified and unprofessional to be trusted with sensitive clients financial info. The bookies will sell their grandmas to make a disingenuous point.
I'm not in the same betting league as Mr Morley yet I've cut back more than 70% on my horseracing expenditure. This can and will only increase if bookies continue to play silly games using horseracing clients and horseracing revenue disingenuously to beat the industry to try and achieve their objective ie to reduce further their horseracing reliance in their business strategy.
I firmly believe any disgruntled bookie ought to exit the industry. Either a bookie is in or out. They cannot do both eg 1/2 in, 1/2 out like present as it will only decimate and eventually destroy the horseracing industry and betting.
Like impossible says the more turnover on horseracing betting turnover then the more the bookies pay out towards racing and prize money etc. This is not the case with the other betting.
It is to their advantage to restrict any customers that are profitable and not take decent bets from 'shrewd' or winning punters either by restricting them with size of bets or making it hard with the gambling commission details etc.
I would bet they let a customer gamble the max allowed on their profile on slots / casino but would limit the same customer to a couple of quid each way on the main gambling race on a Saturday.
It is to their advantage to restrict any customers that are profitable and not take decent bets from 'shrewd' or winning punters either by restricting them with size of bets or making it hard with the gambling commission details etc.
I would bet they let a customer gamble the max allowed on their profile on slots / casino but would limit the same customer to a couple of quid each way on the main gambling race on a Saturday.
Like impossible says the more turnover on horseracing betting turnover then the more the bookies pay out towards racing and prize money etc. This is not the case with the other betting.
It is to their advantage to restrict any customers that are profitable and not take decent bets from 'shrewd' or winning punters either by restricting them with size of bets or making it hard with the gambling commission details etc.
I would bet they let a customer gamble the max allowed on their profile on slots / casino but would limit the same customer to a couple of quid each way on the main gambling race on a Saturday.
It is to their advantage to restrict any customers that are profitable and not take decent bets from 'shrewd' or winning punters either by restricting them with size of bets or making it hard with the gambling commission details etc.
I would bet they let a customer gamble the max allowed on their profile on slots / casino but would limit the same customer to a couple of quid each way on the main gambling race on a Saturday.
Betting affordability checks are the same for all gamblers (at different levels) whether they are betting a hundred a week or thousands a week. Everybody has to comply whether a big gambler or small one.
I`m not a fan of the traditional bookies but it`s not their fault. They have to do it as rules set down by the Gambling Commission. The bookies don`t like it either.
I`m not a fan of the traditional bookies but it`s not their fault. They have to do it as rules set down by the Gambling Commission. The bookies don`t like it either.
.... refuse to comply with the affordability check if one wants, but that means one can`t bet with the said bookie. Like I said, not their fault.
Minimising stakes and shutting winning accounts having adhered to the checks ...... well that`s a completely different story.
Minimising stakes and shutting winning accounts having adhered to the checks ...... well that`s a completely different story.
People who bet that large amount will not be staking with a regular bookmaker. We all know that by now, surely?! One may encounter a multitude of frightful tales on the racing forum, among other sources.
You know what racing is a privileged rich sport with people willing to pay ridiculous amounts of money for 1 horse and still complain? Horse Racing will be around in 50 years from now and still they will complain just like the farmers.
One of the main factors for the decline in horse racing turnover is the cost of living and horse racings ageing population with less money to spend.
The facts are most Normal working class people at the end of the month will be lucky enough just to have quid left, or are in debt to cover their costs.
I can tell you some Black Market folk will let you have a decent bet on the horses, and pay you out in a timely manner without hesitation. Online bookmakers will NOT take a decent bet, that's the problem, and that's one of the main reason for betting turnover decline IMO.
The Racing Post won't highlight this because they are propped up by big corporations who's only objected in life is to gain and hold as much money as possible.
You know what racing is a privileged rich sport with people willing to pay ridiculous amounts of money for 1 horse and still complain? Horse Racing will be around in 50 years from now and still they will complain just like the farmers.
One of the main factors for the decline in horse racing turnover is the cost of living and horse racings ageing population with less money to spend.
The facts are most Normal working class people at the end of the month will be lucky enough just to have quid left, or are in debt to cover their costs.
I can tell you some Black Market folk will let you have a decent bet on the horses, and pay you out in a timely manner without hesitation. Online bookmakers will NOT take a decent bet, that's the problem, and that's one of the main reason for betting turnover decline IMO.
The Racing Post won't highlight this because they are propped up by big corporations who's only objected in life is to gain and hold as much money as possible.
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