Black market could take £500 million in horse racing bets

The British Betting and Gaming Council (BGC) has predicted that black market bettors could take around £500 million in bets during England's National Hunt season. The council said illegal gambling operators pose a growing threat to British horse racing and its spectators.

The warning came ahead of this weekend's Cheltenham November Meeting. Around £10 million is expected to be staked with illegal operators over the three-day event. The season, running from October to April, includes major races such as the King George VI Chase, the Cheltenham Festival and the Grand National at Aintree.

Licensed operators are required to follow rules on age verification, anti-money laundering and safer gambling measures. Illegal sites, however, operate outside British regulation and offer none of these protections. Black market bettors also do not pay tax in Britain and do not contribute to horse racing.

According to an independent WARC analysis, illegal operators account for almost half of all gambling advertising spending in Britain. Estimates from H2 Gambling Capital suggest that the value of bets placed with illegal operators could rise from £17 billion in 2026 to more than £33 billion in 2028. The council is calling on the Government and the Gambling Commission to take stronger steps against illegal sites.