The Cheltenham Festival is one of the biggest events of the year not only for horse racing but also for the sheer number of bets placed at bookmakers.
However, while gambling and horse racing go hand in hand, Irish bookmakers are preparing for what will be the final time gambling advertisements air on daytime television during the event.
The newly established Gambling Regulatory Authority of Ireland (GRAI) has officially commenced operations, marking the beginning of stricter regulations for the betting industry.
With this, Justice Minister Jim O’Callaghan has signed an order granting the watchdog full authority to oversee and enforce gambling laws in Ireland — including the aforementioned ad ban.
Although the ban on daytime gambling ads has not taken effect in time for this year’s Cheltenham Festival, sources indicate that its implementation is a top priority for the GRAI and will roll out in the coming months after.
Under its new mandate, the GRAI will issue licences to bookmakers, online gambling platforms, and lottery operators while ensuring compliance with evolving gambling laws.
Those who fail to follow regulations could face hefty fines of up to €20 million or prison sentences of up to eight years for company executives which is a huge deterrent.
In addition to banning advertisements on TV and online between the hours of 5:30 AM and 9 PM, the new laws will also restrict promotional incentives such as free bets and VIP perks for high-rolling customers.
Anne Marie Caulfield, CEO of the GRAI, emphasized the necessity of stronger safeguards, citing a 2023 ESRI study that found 130,000 Irish adults suffer from problem gambling, with an additional 279,000 classified as experiencing moderate gambling-related harm.
“While most people gamble responsibly, greater awareness and education on the risks associated with gambling will be a key focus of the Authority,” Caulfield stated. “We will implement protections to prevent children from engaging in gambling activities and ensure strict adherence to industry safeguards.”
The Cheltenham Festival remains one of the most widely watched horse racing events globally, drawing hundreds of thousands of viewers in Ireland each year.
Despite the announced restrictions, Irish punters are still expected to wager an estimated €120 million during the festival, so it’s not likely that the lack of adverts is going to make or break the industry.
However, with Ireland’s new gambling regulations taking shape, next year’s festival will certainly usher in a new betting era.
