BHB DISAPPOINTED AT GOVERNMENT’S RESPONSE TO RECOMMENDATIONS ON BETTING EXCHANGE REGULATION

14 Jun 2004 Pre-2014 Releases

Commenting on Government’s Response to the Report of the Joint Committee on the Draft Gambling Bill, BHB Chief Executive Greg Nichols said today:

“Government’s unwillingness to agree to implement the Joint Committee’s recommendation for a threshold beyond which a ‘lay’ on a betting exchange is regarded as non-recreational will do little to reduce the incentive for certain individuals to attempt malpractice. Racing is damaged if a malevolent act takes place, regardless of the outcome of any subsequent investigation process.

“Government has said that it proposes that all exchange users should be identified and registered so that ‘information about accounts or transactions can be reported to the Gambling Commission or particular individuals can be notified to the Commission if required’. While this is welcome, it does mean that, at the point where a horse is laid to lose by someone with knowledge that their bet is certain to profit, there is no restriction on the amount that the individual can stand to win, and thus nothing to protect Racing’s integrity.

“We will continue to support the views of the members of the Joint Committee as the Gambling Bill goes forward and we urge Government, and in due course the Gambling Commission, to address key integrity issues which remain outstanding.”