Angus Loughran has become the first casualty of the latest cutback of the BBC's racing coverage.

It was revealed last week that the BBC could dramatically cut its output of live racing to just 12 days a year from 2010 and Loughran, who had been scheduled to be on duty at Haydock Park and Aintree this weekend, leaves with immediate effect.

A BBC spokeswoman said: "The BBC's betting expert, Angus Loughran, is leaving the Corporation after 12 years.

"He leaves by mutual consent to pursue his freelance career and as part of editorial changes to the BBC's racing output next year."

Loughran, who rose to fame as 'Statto' on David Baddiel and Frank Skinner's Fantasy Football League on ITV in the Nineties, was brought into the racing team as the BBC's equivalent of Channel 4 betting expert John McCririck to give information on the latest market moves and starting prices.

Earlier this year Loughran was temporarily dropped by the BBC after he was declared insolvent at Manchester County Court in relation to a £5,700 debt to spread-betting firm Sporting Index.

Loughran said: "It's a shame my association with the BBC has ended so quickly.

"I was informed a few days ago I wasn't part of their plans for 2009 - obviously its been well documented in the press that there isn't much racing around.

"It's a shame the BBC don't wish me to continue working for them as I feel I have done a good job.

"I part on good terms, albeit prematurely. I could have stayed until Christmas, but would have had to forgo any opportunities between now and then, and given the choice I would rather work for people who want me rather than people that don't."