The co-founder of Gamban, a company specializing in gambling-blocking software, has suggested that horse racing should be exempt from affordability checks in the UK. Affordability checks were introduced in 2024, requiring background credit checks for bettors who reach a monthly deposit threshold to determine if they can continue depositing money on gambling sites. The racing industry has criticized these checks, arguing that they unfairly target them and should focus more on higher-risk forms of gambling like online casino games and slots.
Affordability checks were initially piloted in August in the UK, with more extensive checks triggered when monthly deposits reach £500 ($635). The measure is set to be fully implemented in February 2025, with the threshold decreasing to £150. Bettors will then undergo background checks from credit agencies and other financial service platforms. However, Matt Zarb-Cousin, the co-founder of Gamban, believes that these checks are not effectively targeting the most high-risk forms of gambling.
Zarb-Cousin argues that horse racing should distance itself from online casino operations to avoid being subject to affordability checks. He suggests that if racing were to operate on a separate license or platform from online casinos and slots, it would have a different risk profile and not be subjected to these checks. The UK’s Jockey Club, a horse racing trade organization, estimates that the checks will cost the industry over £250m ($317m) in the next five years.
Since the introduction of affordability checks, there has been evidence of an increase in higher-risk forms of gambling like online roulette and slots, while activities such as sports betting, horse racing, and poker have seen a decrease in participation. Zarb-Cousin criticizes the way these checks are conducted and calls for a more prescriptive set of rules governing how operators carry them out. He believes that the checks have been intrusive and ineffective, attributing the issue to the way the Gambling Commission regulates the industry.
Overall, the debate surrounding affordability checks in the UK has sparked controversy within the gambling industry, with horse racing advocates pushing for exemptions due to concerns about the checks negatively impacting the sport. As the regulatory landscape continues to evolve, it remains to be seen how these checks will affect different sectors of the gambling industry and whether adjustments will be made to address the concerns raised by industry stakeholders.