SBC News Voice of the Sports Betting Industry
The UK Racing Levy Scheme has again hit national headlines, as UK Sports Minister Tracey Crouch detailed to industry stakeholders that her department intends to place a 10% gross profit charge on all racing wagers whether placed via a retail bookmaker or online.
Crouch and the Department of Culture, Media and Sports will seek to implement the industry charge which was due to be implemented in April 2016.
The new levy charge for both retail and digital wagering will aim to raise £90-100 million for UK racing.
The overhaul of levy scheme has split the racing and betting industries, who have been at loggerheads regarding its terms since first published in 2014.
UK ‘Big Four’ retail operators Ladbrokes, William Hill, Coral and Betfred have yet to commit to levy terms for their online betting operations.
Furthermore, the bookmakers have publicly hit back at UK racing chiefs’ imposing bans on them advertising and sponsoring racing events for not committing to the levy and its ‘Authorised Betting Partner’ scheme.
In November 2015, The Levy Board which represents the British Horseracing Authority, the Racecourse Association and the Horsemen’s Group stated that it had referred the scheme to the UK government as negotiations with bookmaking industry had broken down.
Racing and betting representatives are due to meet with Crouch at the Department for Culture, Media and Sport separately on Wednesday and have been given until November 4 to make their final representations in writing.
