The UK Gambling Commission (UKGC) has sent out a reminder to on-course bookmakers at the Cheltenham Festival about their licensing responsibilities.
Ahead of the annual horse racing event, the regulator urged licence holders to remain vigilant when handling large volumes of cash and to ensure appropriate safeguards are in place to prevent criminal activity.
Under the Commission’s Licence Conditions and Codes of Practice (LCCP), gambling operators must maintain effective policies, procedures and controls to mitigate risks related to money laundering and terrorist financing.
Specifically, Licence Condition 12.1.1 requires operators to remain alert to attempts by customers to gamble funds obtained unlawfully, whether in an effort to “clean” criminal proceeds or simply to spend money derived from illegal activity.
The regulator also reminded bookmakers of their obligation to report suspicious activity. Licence holders must notify the Commission of relevant concerns in accordance with LCCP Condition 15.2.1 on reporting key events and Condition 15.1.2, which requires the reporting of suspected offences linked to betting licences.
John Pierce, Commission Director of Enforcement, said: “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.”
The Cheltenham Festival is one of the busiest periods for on-course betting in the UK, drawing large crowds and significant wagering activity across the four-day meeting.
In recent years, on-course bookmakers have also been more prominently offering card transactions for attendees placing a bet.
Last year saw an increase in betting volume at UK race meetings, with £248m wagered between April 2024 and March 2025 – a 9.5% year-on-year increase.