Racecourse Betting Compliance (RBC) is reminding on-course bookmakers attending Cheltenham Festival to remain alert to their regulatory responsibilities during one of the busiest events in the racing calendar.
The Gambling Commission has recently issued a reminder to operators about the importance of remaining vigilant to the risks of criminal proceeds entering the gambling system during major events. You can read the Commission’s reminder here:
https://www.gamblingcommission.gov.uk/news/article/reminder-for-on-course-bookmakers-at-cheltenham-festival
While the vast majority of on-course betting is entirely legitimate, busy race meetings can present opportunities for suspicious activity. Operators should ensure staff working pitches remain alert to unusual behaviour, suspicious betting activity or counterfeit currency.
Operators are reminded that the Licence Conditions and Codes of Practice (LCCP) require them to have clear written policies, procedures and controls in place to prevent money laundering and the use of criminal proceeds in gambling, and to ensure these procedures are followed in practice.
Practical reminders for operators:
• Ensure staff understand your written anti-money laundering and reporting procedures and know how concerns should be escalated.
• Be alert to unusual betting activity or behaviour that appears inconsistent with normal betting patterns.
• Take reasonable steps to check notes where appropriate, particularly during busy periods.
• Make a note of any incidents or refusals, so they can be properly recorded if required.
If you are unsure about a situation or concerned about activity on course, speak to the Betting Ring Manager (BRM) who can provide support and ensure any issues are recorded appropriately.
Operators are also reminded of their obligations under the LCCP, including requirements relating to anti-money laundering, reporting suspicion of offences, and reporting key events.
Maintaining vigilance during busy meetings helps protect the integrity of on-course betting and the wider racing industry.
We wish all operators attending Cheltenham Festival a safe, successful and enjoyable meeting.