Levy rollover as bookies and racing fail to agree

Levy rollover as bookies and racing fail to agree

Friday, December 4, 2015 Totally Gaming
Betting companies will pay 10.75 per cent of gross profits from UK racing

The UK government has announced that the existing horseracing levy scheme will be extended in April 2016 after the sport’s representatives and the gambling industry failed to agree on a new system.

Culture Secretary John Whittingdale and Sports Minister Tracey Crouch expressed their disappointment that the two sides could not come to an agreement on the funding scheme.

Ministers were only able to determine the terms of the statutory levy of at 10.75 per cent of gross profits from UK racing rather than the voluntary elements that have been a feature of recent levy schemes. The announcement comes after Chancellor George Osborne announced plans for a Racing Right earlier this year.

A Department for Culture, Media and Sport (DCMS) statement said: “With the statutory Levy rate now set for next year, I hope that these discussions continue and that an agreement can be reached.”

Bookmakers' committee chairman Mike O'Kane said: ''It is a matter of regret that the Bookmakers' Committee recommendations for the 55th levy scheme were not agreed by the Levy Board before October 31, and as a result were referred to government for determination.”

BHA chief executive Nick Rust added: “DCMS can now continue its focus on the replacement of the Levy with the Horserace Betting Right to which all in British racing remain fully committed.”

Meanwhile, Betfair, Bet365 and 32Red have confirmed their commitments to the new Authorised Betting Partners (ABP) initiative introduced by the BHA and accepted by courses owned by Arena Racing Company and Jockey Club Racecourses, and the five Scottish tracks.

ABPs will be granted use of a kitemark and promotional benefits as part of a marketing campaign to be rolled out across the sport.

They will also have the opportunity to negotiate preferential commercial arrangements with participating racecourses including access to sponsorship opportunities, Wi-Fi provision and wider promotion.
 

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