The BHA Board has confirmed that participant fees will rise by 3.9% for 2025. The fee increases will help contribute to further improving BHA services, including through investment in digital technology to enhance raceday operations and simplify administrative processes so it is easier to take part in the sport.

A decision to increase fees is never something we take lightly. We recognise that this has an impact on individuals and businesses across our industry, those who own, train, ride and look after our horses and play an invaluable role in our collective success. We know that you too are facing rising costs and external pressures, and we are immensely grateful for your continued support for British racing.

We are especially grateful to racehorse owners, who continue to show unwavering loyalty despite a challenging economic period. Our sport would not be possible without your significant contribution. It is therefore essential that we work to ensure you feel valued and rewarded, through an improved owner experience and increased prize money returns.

The need for fee increases

The BHA has considered very carefully the appropriate level of fees for 2025. We aim to break even over the longer term, with fees calculated at a rate that supports the effective governance, administration and regulation of our sport.

We will always look in the first instance at where the BHA can make additional savings. For example, our head office move is saving us approximately £300k every year, and we have also been able to absorb the financial hit from the changes to employer national insurance, which will cost us around £400k.

But we need to balance any potential cost savings with ensuring we continue to provide high-quality services for participants and the wider industry, both on and off the racecourse. We must also make sure that our sport remains safe, clean and fair, giving participants, customers and investors confidence in the integrity of our racing product.

Investment and planning for 2025

In a rapidly changing digital landscape, the BHA will be investing in technology to support, improve and build greater resilience into our raceday operations and regulatory functions, particularly around the connectivity of our systems. We also need to be on the front foot when it comes to protecting ourselves and the online systems on which racing depends against the increased cyber security risk.

The BHA continues to lead the development and delivery of British racing’s industry strategy work, which seeks to grow our revenue and put us on a more secure long-term footing. This is a cross-industry approach, informed by direct input from racing’s stakeholders and representatives.

2025 will see a much bigger focus on customers and investors – whether that’s owners, trainers, racegoers, bettors or others – with work underway around the owner experience and how we better promote, engage, attract and retain both new and existing supporters.

The new Racing Digital Hub will launch in 2025 and improve administrative processes for owners and trainers in particular, making them more user-friendly. Owners will benefit from a simplified fee structure to make it clearer about what they are paying for and why – increasing transparency and reducing the administrative burden.

We can also expect the publication of an industry people strategy, focused on the recruitment, retention, development and wellbeing of a happy, high-performing workforce. Horse welfare and our social licence to operate will remain a priority for the sport.

Challenging financial circumstances

Of course, everyone in British racing and breeding is operating against the backdrop of extremely challenging financial circumstances.

We continue to robustly make the case to the UK Government about the well-documented pressures on racing’s finances and income streams, urging expedited action to address immediate threats and secure a more sustainable future for the sport.

Alongside this work, the BHA is leading a cross-industry effort to look at racing’s income and funding models and think about how we can make better use of existing resources.

We will always look to ensure that the BHA provides good value for money to those who are asked to pay the fees. Thank you again for your continued involvement with and support for British racing.