BGC Forecasts £500m Black Market Handle Across National Hunt Season
The BGC forecasts **£500m** in illegal bets during the National Hunt season, including **£10m** at Cheltenham this weekend. Unregulated operators avoid all tax, racing contributions and consumer protections while capturing nearly half of UK gambling ad spend. Projections show the black market doubling to over **£33bn** by 2028.
SCCG Take — Stronger government and Gambling Commission enforcement is required to protect regulated operators' economic contributions and prevent further erosion of consumer safeguards in British racing.
An estimated £500m is forecast to be wagered with illegal gambling operators during Britain’s National Hunt season. As reported by G3 Newswire, the Betting and Gaming Council (BGC) highlighted the threat ahead of this weekend’s Cheltenham November Meeting, where £10m is expected to be staked with black market bookies across the three-day festival.
The National Hunt season runs from October through April and includes major fixtures including the King George VI Chase, the Cheltenham Festival and the Grand National. The warning coincides with Safer Gambling Week, scheduled from 16 to 22 November, which promotes the protections offered by licensed operators.
Scale of Unregulated Growth
Black market operators provide none of the age-verification, anti-money laundering or safer gambling measures required of licensed bookmakers. They pay no UK tax and make no contribution to British horseracing. Independent analysis by WARC found unregulated operators now account for almost half of all UK gambling advertising spend. Forecasts from H2 Gambling Capital estimate the amount staked with illegal operators could grow from £17bn in 2026 to more than £33bn by 2028.
Grainne Hurst, Chief Executive of the BGC, said: “Britain’s National Hunt season is one of the highlights of our sporting calendar, but criminal gambling operators are also looking to cash in, with £500m expected to be staked on the illegal black market. These operators contribute nothing to British racing, pay no UK tax and offer none of the vital protections customers expect from licensed bookmakers.”
The regulated betting and gaming sector supports 109,000 jobs, contributes £6.8bn to the UK economy and generates more than £4bn in tax revenues annually. BGC members contribute more than £350m each year to British horseracing.
Risks to Racing and Consumers
The expansion of the black market carries direct risks for customers who receive no regulatory safeguards and for the racing industry that loses both financial support and integrity. Enforcement against offshore illegal operators has so far failed to contain the projected growth, leaving licensed operators to bear the full cost of compliance while competing for the same customer base. Without more effective action the disparity will widen.
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