BGC estimates £60m in illegal bets during Cheltenham Festival
The Betting and Gaming Council said illegal operators took up to £60 million in stakes during the four-day Cheltenham Festival. The council estimated the event generated close to £1 billion in betting stakes and cited analysis indicating that about 6% of betting in Britain flows through illegal operators. Chief executive Grainne Hurst said higher taxes and affordability checks could make it harder for licensed firms to compete.
The BGC’s estimate highlights illegal betting’s presence during Cheltenham and its concern about licensed firms’ ability to compete.