Uk horse racing has received a lift from the European Commission, which on Friday gave full approval on the UK government’s reforms associated with the sport’s main funding system.
British activities minister Tracey Crouch thinks the levy that is new ensure gambling reforms pay a fair return to aid horse racing, but the bookies argue they already help it through sponsorship deals.
All bookmakers will be required to pay a ten percent levy on all gross profits derived from betting on British horse racing above a $500,000 ($640,000) threshold under the new system.
Under the system that is previous which has been doing existence since 1961, just betting firms based in the UK had been required to contribute to funding, but now the levy will apply to all companies that offer bets on British racing, including including on- and off-course bookmakers, betting exchanges and spread betting companies.
The majority that is vast of websites, also those owned by Uk household-name brands like Ladbrokes and William Hill, are based overseas.
‘This move will help secure the future of horse racing in Britain by making certain that gambling firms pay a fair come back to support the game,’ said sports minister Tracey Crouch, whose department is behind the reforms.
‘Horse racing possesses strong heritage in this country, using a large number of individuals and is enjoyed by many nearly every day of the entire year. This approach that is new the Hor Continue reading