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DOUBLE THE HORSERACING LEVY, SAYS HRI

Posted 1/27/11 : Association boss warns of the danger of losing the industry
 
The Irish Times reports that Horse Racing Ireland chief executive Brian Kavanagh has called for a doubling of the horse racing levy, warning that the consequences of not doing so could be serious for the horse breeding industry and the Irish economy.
 
Kavanagh also proposed that the same betting levy be imposed on offshore operators as those bookmakers operating on Irish soil. Bet on horses now.
 
The HRI’s position is that the current one percent levy for off-track betting should be doubled – something which bookmakers oppose - and that online betting firms should be swept into the same tax net as their high street cousins.
 
Kavanagh told the government's agriculture, food and forestry committee that total betting in Ireland quadrupled from Euro 1.3 billion to Euro 4.5 billion from 2001 to 2009, but the return to the Exchequer more than halved to Euro 31 million. He said that the reduction of the betting levy to 1 percent was at the core of the problems facing the equine industry.
 
“The rate is so low that the bigger betting operators can absorb it as part of their costs while the smaller operators find themselves struggling to pay a turnover tax irrespective of their level of profitability," he said. "The bigger operators also have online betting operations which avoid paying even this 1 percent levy. Online is effectively offshore and even telephone call centres based in Ireland route their calls offshore and thus accrue no duty.”
 
Kavanagh said the betting levy was introduced in 2001 to finance the industry. It was set at 5 percent and worked well but was progressively reduced to 1 percent in 2006 and the liability transferred from the punter to the bookmaker. Consequently, the Horse and Greyhound Racing Fund had been reduced progressively and had fallen from Euro 76 million in 2008 to Euro 57.2 million this year, which was an unsustainable position from which to develop a key industry.
 
Kavanagh described the need for action as "urgent," quoting statistics to prove his point that included the 16,500 full-time jobs in the industry, the sector’s value of over Euro 1 billion to the economy and its ability to attract 80,000 visitors annually.

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Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

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Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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