Peter Jackson, Chief Executive of Flutter (formerly Paddy Power Betfair), has voiced concerns over a no-deal Brexit, and the affect it will have on the horse racing industry in the UK. With only a few weeks before the Brexit deadline, stakeholders are making preparations for disruptions with the likelihood of a no-deal Brexit looming.Jackson spoke of the potential problems a no-deal vote could present, which would have a huge impact on the racing sector in terms of horses being transported from UK and Ireland, as free movement could be affected by stricter border regulations.
Potential Barriers
Currently, the UK hold around 1,500 race meetings every year, with an estimated £11.5bn revenue generated for bookmakers, its inevitable any barriers will have an affect on the industry. Although the threat of a no deal Brexit looms, safeguarding measures are already in place if the outcome is as predicted.David Redvers, from Qatar Racing doesn’t believe there will be a problem, saying,“ Saying there will be a problem with Irish Runners at the Grand National, or English runners at Punchestown, I don’t see it happening.”“ The people claiming to be concerned about a no-deal Brexit, by and large, have vested interests and see it through Irish eyes, where they see Brexit as a disaster, rather than the realistic outcome, which is no one wants there to be difficulty of transporting horses between Ireland, Britain, France and Europe. The whole industry will work together to overcome that.”
Free Movement For Horses
The Tripartite Agreement was drawn up to allow horses to have free movement in UK, France and Ireland without long delays at borders. 26,000 racehorses were transported across borders in 2017, under the current legislation, a no-deal outcome would test this legislation.The British Horseracing Authority (BHA) have said the Governments outlined plans will not affect the transportation of racehorses entering the UK, the BHA are in negotiations with their French and Irish peers, allowing horses to travel out of the UK with no issue.Flutters sportsbook bets stand at 40% of total bets, due to its Betfair Exchange. With the potential problem around the movement of horses, race meetings will be smaller and interest from punters will drop, with bookmakers profit dwindling.