Nearly $12.9 million to be wagered illegally on 2025 Grand National, warns BGC

Almost £10 million ($12.9 million) could be bet through illegal operators during this weekend’s Grand National, the UK’s most-watched horse race, the Betting and Gaming Council (BGC) said, warning of growing threats from the unregulated gambling black market.

The industry group, which represents more than 90% of the UK’s regulated betting and gaming sector, estimated that £9.4 million — or around 3.8% of the £250 million expected to be wagered on the race — will be staked via unlicensed platforms. The Grand National takes place on April 5 at Aintree Racecourse and is set to draw bets from around 13 million UK adults and a global audience of 600 million.

“Almost £10 million is predicted to be staked illegally on the unsafe, growing gambling black market at this year’s Grand National,” BGC chief executive Grainne Hurst said. “It fuels crime, undermines player protection measures, while sucking vital cash from sport and the Treasury.”

The BGC said the illegal market poses a serious risk to consumers, particularly young and vulnerable bettors, as well as to the integrity of British horseracing and the broader economy. The legal betting industry generates £3 million in tax revenue and £2 million for the horseracing levy from the Grand National alone.

A separate study published in February by the International Federation of Horseracing Authorities found that the number of UK users visiting 22 unlicensed betting sites grew by 522% between August 2021 and September 2024. In contrast, traffic to 10 licensed horseracing betting sites increased just 49% over the same period.

The BGC also warned that one in five British bettors aged 18–24 already use unregulated platforms, often accessed through encrypted messaging apps. The council says some black-market operators target self-excluded users and those most vulnerable to harm.

The council estimates the black market could cost the UK Treasury up to £335 million over the course of a five-year Parliament if the trend continues unchecked.

“The Grand National is the nation’s punt, and it is being subverted by illegal operators offering illicit gambling to thousands of punters, many of whom are vulnerable to harm,” Hurst said.

She urged the UK government to ensure future regulation strikes the right balance.

“This should serve as a wake-up call for the Government, which must guard against overbearing regulations that risk driving punters into the arms of illegal operators,” she added. “Balanced regulations and a stable tax regime are the best defences against this black market menace, which now poses an existential threat to British racing.”

The regulated betting industry in the UK supports 109,000 jobs, contributes £6.8 billion to the economy, and raises £4 billion in taxes annually, according to the BGC. It also provides £350 million a year to British racing through sponsorships, media rights and the levy, along with additional millions to other sports such as football, rugby league, darts and snooker.