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BETTING EXCHANGE CLAIMS CREDIT FOR HORSERACING LEVY AGREEMENT
Thursday, November 3, 2011 : Betfair claims agreement would not have been possible without its GBP 6.5 million donation; and urges other off-shore operators to contribute
Hard on the heels of the announcement this week that UK bookies and the horseracing industry had reached agreement on the quantum of this year's racing levy , Betfair has claimed that the last-minute agreement would not have been possible without its GBP 6.5 million voluntary donation, and called on fellow off-shore operators to follow suit.
In a press statement Tuesday, the betting exchange said: "With the GBP 45 million guarantee from the licensed betting offices of the big three bookmakers and the donation of GBP 6.5million from Betfair, this year’s scheme in all likelihood will yield GBP 72.4 million, possibly more.
"An agreement such as this would not have been possible without Betfair’s donation, increased by GBP 500,000 from the 50th Scheme, an amount equal to the sum Betfair would have had to pay if it conducted its business under a UK licence."
Betfair legal executive Martin Cruddace notes that notwithstanding the three representatives of Racing, led by Paul Roy, inexplicably voting against the proposal, he sensed a real shift in the willingness of the Bookmaking industry to work constructively with Racing, as evidenced by guarantee of the traditional bookmakers and his company's substantial contribution of GBP 6.5million.
“In order to properly demonstrate this new desire to co-operate, it is imperative that all off-shore bookmakers make proper donations to the Horserace Betting Levy Board (HBLB) in respect of levy they would otherwise have to pay, if on-shore. If other off-shore operators followed suit the GBP 72.4 million becomes circa GBP 90 million," he said..
“It therefore is of grave concern that Mr Roy remains committed, with the help of his new BFF, Ralph Topping, to risking upwards of GBP 3 million of prize money in hopelessly futile litigation against the HBLB in respect of the HBLB’s detailed and thorough consultation on the customers of [betting] exchanges.
“On a positive note, perhaps Mr Roy can persuade Mr Topping over the candlelit dinners that will inevitably follow, as they discuss their litigation, that as the boss of the largest non-levy paying Bookmaker (William Hill.com) Mr Topping should pay the millions he is saving in the levy to horseracing, thereby following Betfair’s lead.
“Perhaps other operators will then follow suit whereby negotiations on the commercial replacement of the levy can take place against a much more secure and positive backdrop”.
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 -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
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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