racing

He added: “The Chancellor has listened to our concerns and rightly recognised that racing is a unique national asset – culturally, socially and economically – and we welcome this support.

“We recognise that the increase in general taxation on the betting industry may have trickle-down effects on racing. We will work with our partners in the betting industry to understand the implications of this.”

Details of the government’s plans were mistakenly released early by the Office for Budget Responsibility before Reeves’ statement in the House of Commons.

The measures are expected to generate £1.1bn from the gambling industry by 2031 and shares in major companies fell immediately after the announcement, although some recovered later.

Before the Budget, bookmakers warned of betting shop closures if Reeves hiked taxes on gambling firms.

Each shop provides thousands of pounds in funding to racing through the levy and media rights payments.

Racing’s bosses say if bookmakers needed to cut costs, this could impact the sport through reduced sponsorship and promotion, worse odds and reduced bonuses for customers, and potentially turn people towards the black market.

An additional £26m of funding will be provided by the government to the Gambling Commission over the next three years to tackle the illicit market.

Jockey Dylan Kitts has been given a nine-year ban in a racing corruption case.

The rider and associate John Higgins conspired together to commit a corrupt practice by agreeing to stop a horse achieving its best possible position, it was found.

Kitts, 24, admitted to a disciplinary hearing he prevented his mount Hillsin from running on his merits when finishing third in a handicap hurdle at Worcester in July 2023.

Higgins, who has been banned from racing for 12 years, was deemed to be the mastemind behind the plan to stop Hillsin winning.

He is the father-in-law of Premier League footballer Ashley Barnes and is an associate of the horse’s owner Alan Clegg, who was not charged by the British Horseracing Authority (BHA).

Trainer Chris Honour was judged not to be part of the conspiracy but was found to have misled stewards and was fined £750.

Calandagan has been named horse of the year at the Cartier Racing Awards in London.

The four-year-old, trained in France by Francis-Henri Graffard, won three top-level Group One races including both the King George VI and Queen Elizabeth Stakes and the Champion Stakes at Ascot.

He is the only horse other than Brigadier Gerard (1972) to win both contests in the same season.

Calandagan, who runs in the Aga Khan’s colours, also won the Grand Prix de Saint-Cloud in his home country, having finished second earlier in the year in the Coronation Cup and Dubai Sheema Classic.

Champion Stakes runner-up Ombudsman, who won the Prince Of Wales’s Stakes and Juddmonte International, and leading three-year-olds Delacroix and Minnie Hauk were also nominated for the main award.

Trawlerman, trained by John and Thady Gosden, was named leading stayer at the 35th annual awards after four victories this year which included the Gold Cup at Ascot.

The award of merit was given to broadcaster and writer Brough Scott.