Could Horse Racing Betting Rings Go Cashless?

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One of the hottest talking points about horse racing at the moment, other than the obvious no fans in attendance, has been the possible implementation of cashless racecourses, which includes the on-course bookmakers.

This was first mentioned when the Glorious Goodwood festival was named as a sports trial last month, something which eventually didn’t take place. However, in the plans for that day, the plan was for everything on course to be cashless, so if you went to bet with a bookmaker, you would have to pay on your debit card and have any winnings go back the same way.

This would take a huge part of the novelty and history of betting, this has always been a pastime enjoyed with cash when betting in person, but could we be about to see things change forever?

Horse Racing Betting Rings to Join Online Betting as Cashless?

While this may cause a great deal of concern for bookmakers who stand in the betting ring, what they have to remember is that many of their customers currently bet cashless, they do this by betting online.

When you place bets with any online bookmaker, deposits are made and withdrawals come back when you win. However you do this, it is all done cashless, there is no cash option.

If you were to look ahead to the year 2030, it is certainly feasible that many industries will be cashless, and the bookmaking industry is one of those. Could this be brought forward due to the Covid-19 pandemic we are currently facing?

Cheltenham Racecourse Goes Cashless for Everything Except Betting

In a recent letter sent out to racecourse members, Cheltenham racecourse, one of the jewels in the crown of British horse racing, has announced that they will be going cashless for everything on course and the only exception to this will be betting with on-course bookmakers.

While the bookmakers will be happy about this, it is a sign of things to come and we are now just one step away from these bookmakers and the punters on course being forced to go cashless.

Will Online Betting Thrive if This Happens?

One of the main reasons why people use on-course bookmakers is because of the thrill of picking up a winning bet, having cash handed over and then going on to spend those cash winnings later in the day or on something special.

If that is no longer there, will anyone use the on course bookmakers? This could lead to a situation where online betting thrives, and where those on course spend money using a mobile betting app rather than placing their wagers with the on course bookmakers as they have done in the past.

It is certainly an interesting time for the betting industry away from online, with cash sure to be scrutinised even more because of Covid-19. Will it happen soon? That remains unlikely, but eventually, cashless betting will be a thing and could become a permanent fixture on racecourses in the UK.

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