TLDR The BGC estimates £60 million was wagered illegally during the four-day Cheltenham Festival, roughly £2 million per race Cheltenham attracted close to £1 billion in total betting stakes, part of Britain’s £11 billion annual horse racing turnover Around 6% of all betting in Britain now flows through illegal operators outside the regulated market Remote gaming duty rises from 21% to 40% in April, with sports betting duty climbing from 15% to 25% in 2027 The Jockey Club has warned affordability checks could drain £250 million from horse racing over five years
The Betting and Gaming Council has said that an estimated £60 million was staked illegally during this year’s Cheltenham Festival. The four-day horse racing event is one of the biggest betting weeks in Britain.
That figure breaks down to about £2 million per race across the meeting. The BGC issued the warning as the Festival drew close to £1 billion in total betting stakes.
Cheltenham is part of Britain’s wider horse racing economy, which generates roughly £11 billion in annual turnover. The Festival alone accounts for a large chunk of that activity each year.
According to analysis cited by the BGC, around 6% of all betting in Britain now goes through illegal operators. When applied to Cheltenham’s massive turnover, that percentage adds up to tens of millions outside the regulated market.
The regulated online betting market handles about £8 billion in wagers each year. The BGC says the gap between legal and illegal activity is widening.
Tax Hikes Put Pressure on Licensed Operators
Grainne Hurst, Chief Executive of the BGC, said the criminal black market tried to cash in during the Festival. She said illegal betting offers none of the protections that come with licensed operators.
Hurst pointed to rising taxes as a key factor