FEW things in life have given Paul Dolan more pleasure than horses.

The York bookmaker has spent a lifetime at the races - whether it be taking punters' bets or cheering his own string of thoroughbreds to victory on the track.

But the 40-year-old says it's getting tougher to make a living in the self-styled Sport of Kings, with the industry irrevocably altered by the advent of betting exchanges.

A few years ago, a betting pitch at a decent British track would have cost thousands. Now, a wannabe turf accountant can pick one up for a couple of hundred quid.

Dolan, of Copmanthorpe, has spent ten years in the profession having taken the reins from his dad, the former York Wasps and Great Britain Under-21 international rugby league player Terry Dolan.

He believes the industry has to change or die. "I still love it and I still want to carry on, but it's getting hard," Dolan said. "I always knew I loved horses but being a bookmaker means a lot of travelling - particularly during the summer when I don't miss a day."

Dolan is a regular fixture on Knavesmire and he also sets up a stall at all Britain's major meetings, including on the hill at the Epsom Derby. He's seen bookmaking change from handing out cardboard tickets at tracks to the computerised industry it is today.

He explained: "You have to try and make all your money in the summer. In the winter, it's just Saturdays really. It's a lot more difficult at the moment. Attendances are low, admission is high and exchanges have changed everything.

"It's become harder and exchanges have a lot to do with it. As a registered bookmaker, I have to pay admission charges, a pitch charge and wages. It can be as much as 25 per cent. On an exchange, you can do everything and you don't have to pay tax. That's totally wrong."

Dolan takes light relief from a high-pressure job by running his own horses. His biggest success was with Hitchhiker who won three Jump races at Newcastle, Wetherby and Huntingdon for his bookie owner in the late 90s.

In Silveretta, and an as yet unnamed four-year-old, Dolan hopes to have two more decent prospects in the near future.

"It is all about getting a good horse and when it wins it is such a thrill. You just can't beat it. It doesn't matter how good or bad the racing is and when you consider that nine out of ten horses don't ever win a race, it's an even better achievement."

So what about the future of bookmaking? "You need to sort the exchanges out," Dolan said. "Racecourses, especially in midweek jump racing, need to get the crowds back by lowering prices. It's tough for smaller bookies. A while ago, everyone wanted to do it. Now the squeeze is on everywhere."