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British Horseracing Remains Confident
Thursday September 1,2016 : BRIT HORSERACING REMAINS CONFIDENT ON NEW LEVY REGIME
BHA expects the industry to benefit by GBP 100 million when government introduces compulsory levy in April 2017.
The British Horseracing Authority has shrugged off speculation that the Brexit issue will materially effect the implementation of the proposed new government-enforced levy on internet and retail bookmakers who accept bets on British horse races.
Commenting that the government’s intention is “clear and unambiguous,” the Authority said that it remains confident that the proposed start date for the new regime of 1 April 2017 will be achieved, and that it hopes to benefit by at least GBP 100 million a year in direct funding from bookmaking companies.
The current voluntary levy system is about to be replaced after 50 years, and speculation was triggered by a Racing Post report that quoted figures from an as yet unpublished report commissioned by the government and compiled by Frontier Economics, a consultancy firm.
According to the Post’s report, the document examines a number of possible models for the new funding system, including an extreme case in which the bookies’ payments for media rights – such as live broadcasts of racing in betting shops and online – are taken into account, along with their racing sponsorship programme. That would, in the economists’ opinion, leave only GBP 10.4 million to be raised directly from betting.
The Guardian newspaper reported that the present levy system raised on average around GBP 100 million a year for British horseracing, but has been diluted as bookmaking companies moved offshore with the advent of online betting.
“We are working on the unambiguous and repeated government commitment that it will restore to racing a fair contribution from all operators, which has been lost to racing simply because of the shift towards offshore remote betting,” a BHA spokesman said Wednesday.
“The replacement of the current Levy is on track to take effect from April 2017. Work within racing is at an advanced stage on various fronts, including the formation of the Racing Authority to distribute the enhanced funding.
“Our own direct discussions with the European Commission have been very encouraging, including since the referendum, and we have had confirmation that this case has clear precedents, most recently in France, and will be dealt with as promptly as possible.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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