UK racing fiasco: impact on betting exchanges

Following three controversial horse races in two weeks traditional bookmakers rose up in arms. They claim the UK government, which supported betting exchanges in the past, must take measures to protect the integrity of the sport. The argument boils down to the fact that a punter can use an exchange to bet on a loser horse, detractors argue, indirectly encouraging jockeys and trainers to ‘throw’ races, Online Casino News reported. As BHB chief executive Greg Nichols told in his interview to the Racing Post, “Recent events have drawn further attention to the new and very real threat to racing's integrity posed by betting exchanges, which leave the sport more vulnerable than ever before to malpractice.” 'The current law, which did not envisage the creation of exchanges, is now deficient and must be tightened in the forthcoming Gambling Bill as a matter of urgency. Government has a responsibility to enact legislation that restricts the opportunity for racing's integrity to be undermined. Exchanges have opened the door for unlicensed, anonymous individuals, whether in Britain or anywhere in the world, to profit directly from a horse losing.” The Jockey Club has currently three separate investigations for evidence of malfeasance.