The Gambling Commission has issued a timely reminder to on-course bookmakers operating at this year’s Cheltenham Festival, emphasising their anti-money laundering obligations and the need for vigilance when handling large cash transactions during one of racing’s busiest weeks.

With tens of thousands of punters expected at Prestbury Park and millions changing hands in wagers, the regulator is underlining that licensees must maintain robust policies and procedures to prevent their businesses being exploited for money laundering or terrorist financing.

Cash-Heavy Environment Demands Extra Vigilance

The Commission’s message centres on LCCP Condition 12.1.1, which requires gambling operators to identify and mitigate money laundering risks. On-course bookmakers must remain alert to attempts by customers to gamble proceeds of crime, whether to launder funds or simply use illicit money to place bets.

John Pierce, the Commission’s Director of Enforcement, acknowledged that Cheltenham creates a uniquely pressured environment. “Cheltenham Festival is an exceptionally busy period, and while the vast majority of on-course betting is entirely legitimate and part of people enjoying their racing experience, licensees should continue to ensure that their written policies, procedures and controls remain robust and effective in practice, and that they remain vigilant to guard against counterfeit currency and criminal proceeds entering the gambling system,” he said.

Reporting Obligations in Focus

The regulator has also reminded bookmakers of their duty to report suspicious activity or transactions under LCCP Conditions 15.2.1 and 15.1.2. This includes filing key event reports and notifying the Commission when they suspect criminal offences may be occurring on-course.

For most on-course bookmakers, who operate professionally and within the rules, this serves as a straightforward reminder of existing obligations rather than a red flag.

The cash-intensive nature of Festival week simply demands extra attention to the controls that should already be in place.

Industry Context

The Cheltenham Festival represents a unique operational challenge for the on-course sector. Unlike digital betting, where transaction records are automatic and comprehensive, cash betting requires manual oversight and real-time judgement calls.

The Commission’s intervention reflects the sector’s particular exposure during high-volume events.

The reminder arrives as bookmakers finalise their preparations for what promises to be another record-breaking Festival. With proper systems in place, the industry can continue delivering the authentic on-course betting experience that remains a cornerstone of British racing culture, while meeting its regulatory responsibilities without fuss.

What the team thinks

Carl Mitchell says:

Spot on from the Commission here, especially with the sheer volume of cash that flows through the rails at Cheltenham. Having seen firsthand how chaotic it can get when the big races are running, it’s easy to see why they’re getting ahead of this now rather than dealing with compliance issues after the fact. The on-course lads generally run tight ships, but a gentle nudge before the festival crowds arrive is never a bad thing for keeping everyone on the straight and narrow.