In order to properly distribute the new horseracing betting levy from April 2019, the governance of British Racing will be revamped.
UK.- April 2019 will mark the beginning of the redistribution of the new horseracing betting levy, and the structure of British Racing governance is set to be rearranged to meet the industry’s needs. That’s why a new collective structure will oversee the segment’s funding and the relationship between the sport and the betting industry.
The new Racing Authority will be supervised by the British Horseracing Authority (BHA), Horsemen’s Group and Racecourse Association, which expect the new scheme to be greatly beneficial to racing. The reorganisation has been promoted to “reduce financial and administrative burdens on the betting and horseracing industries,” and terminated the Horserace Betting Levy Board (HBLB) – a Government Non-Departmental body which will be abolished.
“Today sees a significant step forward for British Racing. I have been very encouraged to see how well the Authority’s new Board is working together to agree spending priorities,” Racing Authority Independent Chairman Sir Hugh Robertson said and added: “We now have an intense period of work ahead of us as a new organisation to prepare for the formal transfer of responsibilities in April 2019, and we look forward to working with the Department for Digital, Culture, Media and Sport; the Horserace Betting Levy Board; the Gambling Commission and stakeholders throughout racing and betting in the coming months.”