
British horse race has gotten a boost from the European Commission, which on Friday gave full approval on the UK government’s reforms regarding the sport’s main funding system.
UK recreations minister Tracey Crouch believes the levy that is new make sure gambling reforms pay a fair return to support horse race, but the bookies argue they currently support 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 in existence since 1961, only betting organizations based in britain had been required to contribute to funding, but now the levy will affect all companies that offer wagers on British racing, including including on- and off-course bookmakers, betting exchanges and spread betting companies.
The vast majority of wagering websites, also myfreepokies.com those owned by British household-name brands like Ladbrokes and William Hill, are based offshore.
‘This move will help secure the future of horse racing in Britain by making yes that gambling firms pay a fair go back to support the sport,’ said sports minister Tracey Crouch, whose department is behind the reforms.
‘Horse racing possesses heritage that is strong this country, employing a huge number of people and it is enjoyed by many almost every day of the entire year. This new approach Continue reading “UK Horse Racing Levy Reforms Clear Final Hurdle”