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BETFAIR MAKES MULTI MILLION DONATION TO RACING
Thursday, June 16 2011 : Betting exchange donates sum equal to statutory Levy requirements
Betfair announced its continual support of British racing with a voluntary donation of GBP 6 Million to the sport, this week.
The donation is in lieu of the 50th Levy Scheme payment it would have been required to make had the company remained under a UK licence.
Betfair is said to be the first major operator not under a UK licence to commit a sum equal to the Levy requirements.
The donation will be handed to the Horserace Betting Levy Board within the next week.
Betfair has also committed to investing a further GBP 3 Million over the next three years into the grassroots of racing.
Martin Cruddace, Chief Legal and Regulatory Officer, Betfair said: “Betfair has a strong track record in supporting British racing and this substantial figure is further testament to the commitment we have in seeing the sport thrive. I would now encourage those other operators not licensed in the UK but who are taking bets on British racing to follow suit."
Paul Lee, Chairman, Horserace Betting Levy Board, said; “At a time when Levy receipts are falling, the contribution is very important and I am particularly pleased that it will go to prize money in 2012 when we are currently facing a considerable shortage."
Rt. Hon. John Penrose MP, Minister for Tourism & Heritage, UK Department for Culture, Media and Sport, added; “We warmly welcome Betfair’s announcement and strongly encourage other betting operators to follow suit. This is a positive step for both racing and the betting industry at a time when all sides are committed to finding a long term solution to the levy.”
In related news, Betfair has launched a new smartphone racing app ready for the Royal Ascot.
The smartphone web-application "Betfair Racing on your mobile" is powered by Timeform and provides racing enthusiasts with an all-in-one product, containing detailed race cards, Timeform star ratings, Timeform tips and comments as well as a comprehensive results service.
The content works in tandem with the full betting functionality of the app, allowing users to both back and lay on Betfair's Exchange, as well as bet In-Play, on win and place markets.
Betfair's Director of Racing, Steven Johnson, said: “The development of 'Betfair Racing on your mobile' highlights two things; Betfair's continuing innovation in the mobile gaming space, and our continuing commitment to providing racing fans with the most comprehensive, exciting and cutting-edge products."
Betfair continues on its recruitment drive after the recent loss of various middle and senior managers with the announcement of the appointment of Ian Chuter in the newly created position of Group Operations Director.
Chuter joins Betfair's Executive Committee on 4 July 2011 from a nine year career at William Hill where, until recently, he was Group Head of International and UK Operations. He will be overseeing Betfair's global customer operations team, which includes telephone betting, market operations, fraud, payments and trading.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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