Gambling advertising ban would cause “crippling” prizemoney and job cuts in racing: Jason Scott

Racing would lose a huge pillar of its funding model if the Federal Government forges ahead with a blanket ban on gambling advertising which would result in prizemoney cuts across the board.

Racing Queensland boss Jason Scott has warned of huge prizemoney cuts and job losses. Picture: Richard Walker

Racing faces “crippling” prizemoney cuts and jobs slashed if the Federal Government goes through with a proposal to put a blanket ban on gambling advertising in Australia.

Racing Queensland chief executive Jason Scott has warned racing’s funding model would take a catastrophic hit if all advertising from wagering companies was banned.

While the proposal, carried by Communications Minister Michelle Rowland, began with concerns over the amount of advertising in live sport, there are fears racing could lose out as an unintended result.

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Scott, who acts as Australia’s representative on the Asian Racing Federation executive and is the chairman of the Australian Hall of Fame, argues racing has a different relationship with wagering to other sports such as rugby league and AFL.

It comes on the back of new Racing Victoria chief executive Aaron Morrison lobbying the government for “sensible” reform.

“Over regulation of advertising reform, both on TV and through social media, has the potential to be crippling to the racing industry,” Scott said.

“Racing Queensland has seen the comments from Racing Victoria chief executive Aaron Morrison over the weekend and we completely agree with him.

“The current racing funding model will be harmed in the form of cuts to prizemoney and loss of jobs.”

Aaron Morrison has also warned of dire consequences to racing if the ban is implemented.

The Queensland racing industry is entirely funded by wagering turnover, which is already facing strong headwinds given slow economic conditions.

“If wagering service providers can’t advertise to customers who have opted in, we are going to see a reduction in interest in wagering,” Scott said.

“Almost 100 per cent of the money Racing Queensland receives comes from wagering through point of consumption tax or race field fees.”

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Scott, who is the former boss of Ladbrokes Australia and worked for BetMGM in America, has been at the coalface of wagering for some time and concedes advertising has overstepped the mark when it comes to live sporting events.

“We accept that it has potentially gone too far, things like betting companies on football jerseys and bright signage around football games aren’t suitable in 2024 and beyond,” he said.

“That doesn’t mean wagering service providers shouldn’t be able to contact their customers.”

Originally published as Gambling advertising ban would cause “crippling” prizemoney and job cuts in racing: Jason Scott