Members of the Betting and Gaming Council (BGC) have poured £455 million ($581 million) into British horseracing in 2021, in the form of sponsorship agreements, levies, and media rights, according to fresh data from the council. 

BGC Members Now Paying More “Than Ever Before” 

According to the BGC’s chief executive officer, Michael Dugher, members of the council are currently showing more financial support than ever before towards British horseracing. This is in spite of the 10.3% drop in betting turnover on racing recorded over the past five years.

Dugher acknowledged horseracing as a leading British sport with millions of fans worldwide as well as a “vital pillar of the economy” with importance to a large number of communities and the tens of thousands of jobs that it currently supports.

Going further, the CEO spoke about the ongoing “symbiotic relationship between betting and racing,” explaining that the duo’s success and future prosperity can only come by working together towards a shared growth goal aimed at the sport “as a product.”

Dugher also explained that the funding from BGC members only originates from licensed bookmakers interested in making sure that racing not only survives but also thrives, mentioning that the unsafe black gambling market continues to grow as a threat while not making any contributions to horseracing.

Bookmakers also spent £125 million ($159 million) on marketing aimed at promoting racing and betting via partnership deals and advertisements, further supporting the terrestrial coverage of the popular sport via two different racing channels and newspaper appearances.

Media rights payments surpassed prior estimates, going up by close to £45 million ($57 million) compared to 2022 when the total reached £340 million ($434 million).

Levy payments are expected to reach £99 million ($126 million) for 2022/2023, signaling a raise from £50 million ($63 million) recorded in the year 2016/2017, according to data from the Horserace Betting Levy Board.

The record 2022 investment allowed horseracing to use some of the revenues to reach a new record in relation to the delivered prize money, a figure that totaled £179.3 million ($228.9 million).

Second to soccer, horseracing is the second most popular sport in the UK. Each year, it gathers over five million people attending approximately 1,400 fixtures spread across 59 different racecourses.

In mid-July, the BGC expressed its support for the White Paper reforms revealed in April while advocating for responsible gambling. In March, the Council reported an increase in the use of safer gambling tools.

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Genting Casinos UK, the British subsidiary of the international casino and integrated resort developer Genting Group, has unveiled a new charity initiative. As announced on its LinkedIn page, Genting’s UK arm will provide funding to CHIPS, a charity raising funds for children with disabilities.

The casino company said that its donation will help CHIPS improve the well-being of an additional 20 children. CHIPS, which was founded on behalf of the UK Gaming industry back in 2001, seeks to change the lives of children with disabilities by providing them with specialized powered wheelchairs.

The CHIPS charity committee is formed by senior members of the British gambling industry. The organization works for free, deducing no expenses and using every penny available to “provide the quality of life that is the right of every child.”

In these last two decades, the UK gambling industry has helped CHIPS raise over £2,000,000 ($2,490,000 in USD, current conversion rates). Thanks to this, CHIPS has been able to provide more than 500 wheelchairs to kids with disabilities.

President Willcock Praised CHIPS’ Work

Genting UK’s initiative was addressed by the company’s president and chief operating officer, Paul Willcock. He said that CHIPS is a charity that is very special to him and that he believes it is great to see the UK gaming industry join forces to help those in need.

It’s been incredible to watch the UK gaming industry come together over the years to raise these vital funds that enable us to support so many young people. The powered wheelchairs really are a life-changing piece of equipment and provide disabled children with independence and mobility.

Paul Willcock, president & COO, Genting UK

Willcock added that he feels honored that his team is able to make a new donation to the charity and support its “amazing work.” The president praised CHIPS for doing everything it can to change the lives of more and more deserving children.

Genting UK Recently Closed One of Its Properties

Genting Casinos UK now boasts dozens of casinos in the United Kingdom and is one of the biggest operators in the country. The company employs thousands of employees across its venues and has two brands in provincial areas, namely Genting Casino and Genting Club.

Genting UK has been focused on growing and providing its clients with more and more exciting casino experiences. Despite that, the operator was recently forced to close its Genting Casino Nottingham property because of “commercial considerations.”

Many of the locals said that The Cornerhouse leisure complex where the casino was located will feel emptier without it.

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