Norway formalises Norsk Rikstoto revenue share arrangements

The Ministry of Food and Agriculture has defined how the gambling operator’s revenue will be divided.

Norway.- The Ministry of Food and Agriculture has introduced regulations to formalise the revenue share from the state-controlled gambling operator Norsk Rikstoto. Revenue is divided between national equestrian organisations.

The new rules formalise the arrangement, laying out the percentage of profit to be received by each body. The Ministry of Food and Agriculture previously had a degree of discretion to decide how to distribute the funds.

The Norwegian Trotting Association, the national harness racing association, will receive the lion’s share of profit at 82 per cent. The funding is used to support the development of Norwegian harness racing, horse breeding and keeping, and will be passed on in the form of grants for racetracks, investment in training facilities, prizes for industry workers and support for voluntary activity.

Meanwhile, Norwegian Gallop, the national horse racing association, will receive 9.2 per cent of Norsk Rikstoto’s profits from horse racing bets. It will invest the money in infrastructure and in people in the industry.   

Finally, 5.8% of profits will go to the Norwegian Horse Centre, a foundation that promotes quality in horse keeping and breeding. The Ministry said it would guide the body on how to use the funds.  

Norsk Rikstoto is the monopoly gambling operator for horse racing betting in Norway, taking all pari-mutuel bets. Its monopoly was extended for another 10 years in December.