UK announces new race betting levy

race betting

This system will replace the Horserace Betting Levy that’s currently in operation.

The government confirmed that operators will need to pay an extra 10 percent.

UK.- The Minister for Sports, Tourism and Heritage, Tracey Crouch, confirmed that British operators will need to pay an extra 10 percent of the race betting revenue to the UK racing industry.

The new measure will take effect in April 2017, and it will apply equally to betting operators on-course, off-course, online, pool betting operators, spread betting lines, retail and betting exchanges. This system will replace the Horserace Betting Levy that’s currently in operation in the UK, and from early 2018, the UK Gambling Commission will be the body responsible for collecting the new fees.

“This move will help secure the future of horse racing in Britain by making sure that gambling firms pay a fair return to support the sport. Horse racing has a strong heritage in this country, employing thousands of people and is enjoyed by many almost every day of the year. This new approach to the Horserace Betting Levy will help sustain and develop the sport,” said Crouch.

Chief executive of the Remote Gambling Association, said that there is a passing reference to the need for them to obtain state aid clearance and that remains a significant hurdle for them to overcome. “It would be premature to talk about legal challenges until that process [of notifying the EU] is complete and that could take months,” he added. The previous system had been operating since 1961, and officials believe that there was a necessity to update the rules.

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