Findlay threatens to quit British racing after he is banned over betting gaffe

The disqualification period, which came into effect immediately, was imposed after Findlay was found guilty of betting on one of his horses, Gullible Gordon, to lose in two separate races.

He breached integrity rules that the British Horseracing Authority introduced following various race-fixing controversies.

Findlay's 'warning off' cast a shadow over a day when National Hunt racing was celebrating the award of an OBE to Tony McCoy, the 15-times champion jockey, in the Queen's Birthday Honours list following his emotional Grand National win aboard Don't Push It.

The BHA decision means 10-year-old Denman, one of the most popular horses in training, will be unable to contest November's prestigious Hennessy Gold Cup at Newbury, his expected comeback race.

Among others affected is Big Fella Thanks – fourth in this year's National. The many horses that run in the name of Findlay's elderly mother, Margaret, are covered by the ban.

A downcast Findlay – a former leading light on the South Yorkshire greyhound circuit – was last night hoping to switch the ownership of some of his Flat horses, trained by Mick Channon and Brian Meehan among others, on a temporary basis to Channon, a former England footballer, to circumvent the ban.

As he declared his intention to lodge an appeal, Findlay also threatened to quit British racing. "I'm going to appeal but, whether I win the appeal or not, I honestly don't think I will be owning horses again in Britain," he said.

"I'm a gambler and all I have is my word. My CV wouldn't get me a job stacking shelves at Sainsburys, all I have is my reputation."

Even though the BHA accepted that Findlay had no corrupt motive – he had also staked large bets on Gullible Gordon to win the races in question – and that the owner reported himself to the authorities when the error became clear, they had no option but to ban the owner.

In the first race, Gullible Gordon was sixth in a novice hurdle at Exeter in October 2008 when the odds-on favourite. Findlay bet 80,000 on the horse winning and 17,000 on it losing. He says that he "made a technical error and pressed the wrong button" when staking the bet with internet firm Betfair. He lost 62,000 in total.

When the same horse easily won a novice chase at Chepstow last October when 4-6 favourite, Findlay staked 64,000 on the horse to win. Unsure of Gullible Gordon's form, he covered his options, with a punting pal, through a 32,000 bet on the horse to lose. He emerged from the race in profit to the tune of 35,000.

"He's a front-runner and a bit of a character," explained Findlay. "We were certainly wrong to do so. I did not check the rules and the serious trouble I was in was my own fault."

Even though champion trainer Paul Nicholls, who trained Gullible Gordon, was unaware of the illegal bets, the scandal is particularly embarrassing for horse racing – and those who have worked tirelessly to restore its image.

Ironically, the promotion of this year's Cheltenham Gold Cup revolved around Denman, who Findlay co-owns with farmer Paul Barber, and stablemate Kauto Star.

However, Betfair last night defended Findlay's reputation, pointing that he had more money staked on Gullible Gordon winning the races in question. Spokesman Tony Calvin added: "While this may have been a technical breach, he was, in effect, overwhelmingly a net backer of the horses in question."