National axe will lead to a £100m blow, say bookies
BOOKMAKERS are set to lose more than £100m in a “devastating blow” to the betting industry after the coronavirus crisis caused next month’s Grand National to be cancelled and all racing in Britain postponed until the end of April at least.
With the Grand National cancelled on Monday for the first time since the Second World War, bookmakers are expected to make devastating losses over the coming weeks, with all horse racing in Britain abandoned yesterday following the British government’s change in stance on coronavirus.
The Aintree race was postponed by two days in 1997 following an IRA bomb threat but was still run on the Monday, while in 1993 it was declared void after a number of the field continued around the course following a false start. However, it has not been completely cancelled since 1945.
Asked what impact the moves will have on the betting industry, Betfair spokesman Barry Orr projected the likely loss of more than £100m in bookmakers’ revenue.
He said: “From a betting perspective, it is a serious body blow.
“Not only is it the highest-ranking race in terms of turnover on sportsbooks and highest volume on the exchange, but it’s also an important period for companies to engage with the betting and wider public.”
Unibet’s Brett Williams concurred on the estimated scale of lost finances, as well as voicing support for the decision which has had to be made.
He said: “The cancellation of the Grand National meeting is a devastating loss for everyone and will cost the racing industry millions at a time when we are already feeling the strain of a completely decimated sporting calendar — but it goes without saying the treatment and care of those suffering, or potential sufferers, of the coronavirus is paramount and Unibet fully support the decision made.
“This is an unprecedented situation we are all facing and it is extremely important the whole industry pulls together and adheres to the guidelines and reacts accordingly to all advice issued by the government.
“All bets on the Grand National have been voided.”
Simon Clare, PR director for
Ladbrokes Coral, said: “The Grand National is the biggest betting horse race of the year, so its cancellation is clearly a blow.
“However, the wider public health situation that we are all facing is so serious and unprecedented that tough decisions are having to be made for all the right reasons, and this is clearly one of them.”
Mark Pearson of Betfred said: “It’s a huge blow to the industry as a whole, but we support the decision of the Jockey Club.”
Two-time National winner Tiger Roll was set to try and emulate Red Rum’s achievement of winning three Grand Nationals this year, only to have the shot at history snatched away.
Meanwhile, Mark Johnston admits only time will tell what the full impact of the coronavirus pandemic will be for the racing industry following the cancellation of all British meetings until the end of April.
While last week’s Cheltenham Festival went ahead unaffected, the situation has escalated hugely in the last seven days — with racing taking place behind closed doors yesterday, before the British Horseracing Authority’s latest decision to suspend the calendar from today.
Johnston, the most successful Flat trainer in British racing history having trained well over 4,000 winners, is keeping his fingers crossed for a swift resolution — describing the possibility of the entire Flat season being cancelled as “unthinkable”.
The Middleham handler said: “It’s very disappointing. I’m not going to criticise the decision, because I’m sure they had good reason for it. None of us knows how long this is going to go on for.
“The implications of it potentially cancelling the entire Flat season don’t bear thinking about. We’d have a whole generation of two-year-olds who haven’t been able to run — it’s unthinkable.”