Uk horse racing has gotten a lift through the European Commission, which on Friday gave approval that is full the UK government’s reforms for the sport’s main funding system.
UK sports minister Tracey Crouch thinks the levy that is new ensure gambling reforms pay a fair return to guide horse race, but the bookies argue they currently support it through sponsorship deals.
Under this new system, all bookmakers are required to pay for a ten per cent levy on all gross profits produced by betting on British horse racing above a $500,000 ($640,000) threshold.
Under the system that is previous which has been doing existence since 1961, just betting firms based in the united kingdom were required to contribute to funding, however now the levy will affect 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, even those owned by Uk household-name brands like Ladbrokes and William Hill, are based overseas.
‚This move will assist secure the future of horse racing in Britain by making certain that gambling firms pay a reasonable return to support the game,‘ said sports minister Tracey Crouch, whose division is behind the reforms.
‚Horse racing has a heritage that is strong this country, using thousands of people and it is enjoyed by many virtually every time of the entire year. This approach that is new the H „UK Horse Racing Levy Reforms Clear Final Hurdle“ weiterlesen