UK MPs and peers are preparing to place bets at local bookmakers ahead of the Grand National next weekend, as horseracing attendance continues to decline.
To promote the UK’s biggest horse racing event, the UK’s betting industry trade body, the Betting and Gaming Council (BGC), will give each MP £50 to place a bet on the race.
All winnings will be donated to a charity of the MP’s choice. If they don’t win, they will contribute £250 to their nominated charity. Last year’s Charity Bet raised over £15,000 for various causes.
Grainne Hurst, CEO of BGC, said: “The Grand National is one of the very few global sporting occasions with the power to bring the whole nation together, spurred on by the history, the heritage and the incredible spectacle it offers.
“It truly is the nation’s punt, and we are absolutely delighted to work alongside our amazing members to ensure the Grand National once again also supports some amazing charities.”
The initiative also aims to highlight the economic impact of bookmakers, with Hurst describing them as the “beating heart of this country’s highstreets.” She emphasised the jobs, taxes and investments generated by sportsbooks, noting that the Grand National remains one of the biggest events on operators’ calendars.
“Bookmakers are the beating heart of this country’s highstreets, generating jobs, taxes, and crucial investment. They also provide community to millions of customers, many of whom will be visiting their bookie to witness the Grand National,” she added.
“I want to extend a massive thanks to all the MPs and peers who have taken time out to meet with staff, for taking part, and helping to raise thousands of pounds for good causes.
“The Grand National is one of this nation’s greatest cultural exports, and I’m thrilled to see parliamentarians once more back racing, their local bookmakers, and good causes. Best of luck to all.”
The race, taking place at Aintree Racecourse on 4 April, attracts around 600 million viewers across 140 countries, with an estimated 13 million adults in the UK placing a bet on the outcome. According to research conducted by the BGC, approximately £250m will be staked on the main event.
However, the horseracing industry is facing increasing challenges as attendance continues to decline. This was evident at the recent Cheltenham Festival, one of the biggest race weeks of the year.
Attendance at Cheltenham hit an all-time low, with one day’s attendance of 41,949 representing a sharp decline from last year’s figure of 46,771 for the same day.
Horse racing, like many other sports, struggled during the COVID-19 pandemic. While other sports have returned to normal, the effects of the pandemic are still being felt in racing.
