A proposed new bill in Ireland that would ban gambling advertising on television throughout the day has led Sky Sports Racing and Racing TV, the pay-television broadcasters dedicated to horse racing, to reconsider their futures in the country.

The long-awaited Gambling Regulation Bill, which passed committee stage early this week, proposes a new watershed whereby gambling advertising is prohibited between 5.30am and 9pm, in effect denying any adverts on live horseracing coverage during daytime hours.

Racecourse Media Group (RMG), Racing TV’s parent company that last month secured exclusive media rights to broadcast from all 26 Irish tracks until 2029, said that its service will likely “cease to be viable in Ireland” should the bill be enacted in its current form.

Sky Sports Racing, whose widespread coverage of British racing is available to watch in Ireland, warned its Irish broadcast operations would be “economically unviable”.

The two have called on the gambling regulator and the Irish Parliament to allow an exemption for channels dedicated to horse racing, claiming that as subscription broadcasters there is, effectively, an ‘opt-in’ agreement by their customers that meets safeguarding measures.

Martin Stevenson, RMG’s chief executive, told the Racing Post: “There would be substantial economic and operational challenges in ceasing to carry gambling advertising, sponsorships, and branding on Racing TV – and it is likely to mean that it ceases to be viable to continue broadcasting in Ireland.

“Television coverage is the lifeblood for any sport and the damage that the loss of these channels in Ireland might cause the successful Irish racing industry is of real concern. Once fans are no longer able to watch a sport on TV, there is a real risk that the sport then suffers a decline in interest and participation.

His Sky Sports Racing counterpart Matthew Imi warned: “Uniquely, as compared to other sports, horseracing and betting go hand in hand, so a significant amount of advertising on our specialist horseracing channel and, indeed, on competitor racing channels, is betting related.

“If this proposed watershed ban on gambling advertising goes ahead as drafted it could have a devastating impact on such dedicated horseracing channels. It’s our view that such a ban may render Sky Sports Racing economically unviable in Ireland if the option for bookmaker advertising and sponsorship support is no longer open to us.”

Before the Irish president enacts any bill into law, it must enter the report stage, where amendments will be considered. After that it progresses to the final stage in the lower and upper houses of Parliament.