The Cheltenham Racecourse is experiencing issues with illegal bookmakers amid its events.

Illegal betting in the UK, part of a black market worth £270 million last year, could rise due to new affordability checks on bettors.

Consequences of unchecked illegal betting include diminished racing economy, reduced prize funds, compromised horse welfare, job losses, and possible course closures.

The global illegal betting market, encompassing gaming and casinos, was nearly £4 trillion last year, with illegal betting turnover increasing fourfold from 2021 to 2022.

Racing's contribution to the growth of illegal betting stands at approximately eight percent.

Licensed bookmakers are starting to require detailed financial disclosures from customers, which may be driving bettors towards illegal options.

Stricter affordability checks could potentially cost the racing industry £50 million annually and have already negatively impacted betting turnover.

Despite their allure, illegal betting operations do not provide customer protections and make no financial contributions to the racing industry.