Russia Considers Increasing Gambling Tax [...]
Racing Operators Warn UK Bookmakers to Pay Up
- October 21, 2015 By Nemanja L. -
The two leading horse racing operators in the UK have joined efforts to ban any commercial deals with the country’s bookmakers who do not make sufficient contributions to the sport in question.
Arena Racing Company (ARC) and Jockey Club Racecourses (JCR) made it clear on Tuesday that they fully supported the British Horseracing Authority’s (BHA) efforts to forbid UK sports betting operators from sponsoring horse racing events across the country unless they comply with the latest guidelines.
Racing Operators Want More Money
Namely, in order to continue the lucrative cooperation with the most popular racecourses, the bookmakers need to either continue to make Levy payments or contribute a portion of their profits from online horse racing bets made by UK customers to the sport.
The joint statement made by the UK’s leading racing operators is likely to be taken very seriously due to the fact that a half of the nation’s racetracks are under their control, including Aintree, Cheltenham, Newmarket and Epson, as well as 60 percent of all racing fixtures.
British Horseracing Authority chief Nick Rust has praised the ARC and JCR for their actions, while other famous racecourses have also supported said statement.
Under the terms of the Levy scheme, UK bookmakers are obliged to contribute a set percentage of revenue made on horse racing events from bets placed by UK players, including online, offline and phone wagers, with new deal agreed each year.
In an attempt to avoid lengthy negotiations that occur almost every year, the government has revealed plans to replace the Levy system with Hoserace Beting Right, but the problem is that the new plan could be in violation of EU trade rules.
Seven Firms Are in the Clear
The BHA has announced its plans to give sports betting operators that agree to increase their current payments Authorized Betting Partner status, which would see the gaming firms enjoy numerous perks and benefits.
At the moment, 32Red, Betfair and bet365 are the only three firms that would earn said status that would allow them to continue advertising at racetracks across the UK.
And with Betfred, William Hill, Ladbrokes and Coral each having agreed to contribute £4.5 million on top of the regular Levy payments, chances are the four gaming companies will earn the Authorized Betting Partner seals as well.
YOU MIGHT BE ALSO BE INTERESTED IN THESE:
NetEnt to Add Three Slots to Their Gaming Portfolio [...]
Supreme Court to Consider New Jersey’s Betting Legalisation Plan [...]