British Racing Warned of Threats From Proposed Betting Tax Hikes

By the Editorial Team · Thursday, October 15, 2026

The UK Treasury is considering doubling taxes on High Street betting shops from 20% to 40%, a move that could lead to the closure of up to 75% of shops and the loss of around 28,000 jobs. This reduction in betting activity threatens to cut more than £90 million annually in funding for horseracing, risking media coverage and thousands of related jobs across the industry.

British horseracing faces potential setbacks following proposals to increase taxes on betting shops, prompting concerns from industry representatives about the long-term impact on the sport and employment. The Treasury is reportedly considering doubling the betting duties on High Street bookmakers from 20 percent to 40 percent, a move projected to cause widespread closures and substantial job losses.

Independent analyses suggest that such an increase could lead to the closure of up to 75 percent of betting shops, resulting in approximately 28,000 job losses across the sector. Beyond the direct impact on bookmakers, this policy shift is expected to have significant collateral effects on horseracing, a sport that relies heavily on revenue generated through betting.

The British Horseracing Authority (BHA) warns that declining betting shop activity would reduce payments for media rights, diminishing the broadcast coverage of races. Furthermore, the statutory Horserace Betting Levy, a key financial mechanism through which the betting industry supports racing, could see its contributions fall by as much as £92 million annually. This figure represents more than a quarter of the £350 million the sport currently receives each year from betting-related sources.

With horseracing supporting an estimated 85,000 jobs nationwide, many in regions with limited employment opportunities, stakeholders emphasise the wider economic implications. The industry also highlights the role it plays in providing career paths for young people who may face challenges in traditional education or employment settings.

This development comes after the government’s decision in the previous year’s Budget to exempt horseracing from increases in online betting taxes, recognising the sport’s cultural and economic importance. Advocates now urge policymakers to carefully consider the unintended consequences that further tax hikes on betting shops may have on the sport’s viability and its contribution to local economies.

Horseracing remains a deeply ingrained part of British heritage, tracing back over 350 years and commanding broad popular support. Its proponents stress the need to protect this sector, which not only entertains millions but also sustains thousands of livelihoods across the country. As discussions continue in Westminster, the future of British horseracing hangs in the balance amid calls to balance fiscal measures with the preservation of a historic national institution.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.