Jockey Club chief executive Nevin Truesdale has called for an urgent re-think by the Government on proposed intrusive financial checks on punters ahead of Monday’s Parliamentary debate on gambling regulation.

Racing leaders fear the checks on punters who lose as little as £1.27 a day will put some people off betting while driving others into the unregulated black market.

Both scenarios would have a disastrous effect on the sport’s finances with estimates of the loss of income close to £50million putting at risk jobs in a rural industry which employs 85,000.

Truesdale, who believes the proposals will not help those at risk of gambling harm, added: ‘The checks would fail to recognise an individual’s personal circumstances and not effectively take action to intervene if there are signs of gambling vulnerability.’

Racing leaders are concerned that the Government’s proposed intrusive financial checks on punters will put some people off betting and drive others into the unregulated black market

Jockey Club chief Nevin Truesdale (above) has called for an urgent re-think of the proposal