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Sportingbet Horseracing Tax
10/14/09 - Online gambling group Sportingbet, which relocated to Jersey in the Channel Islands last year, has nevertheless volunteered to pay a levy to British horseracing's Levy Board.
There has been considerable acrimony over the amounts paid by UK bookies and the lack of support for British horseracing by offshore sportsbetting companies recently .
Sportingbet's voluntary contribution amounts to 10 percent of its gross profits on bets the company takes on British racing from British and European customers, with effect from August 2010.
Sportingbet's chief executive, Andrew McIver said: “An important part of our UK revenue is derived from British horseracing. We have recently set ourselves the goal of increasing this revenue stream and have stepped up our sponsorship activity in British racing.
“This equates to the statutory payments we would make if we were based in the UK and, as a mark of good faith, we are happy to go the extra mile in agreeing that the figures should undergo an audit.”
McIver revealed that the agreement has been approved following negotiations with the Racehorse Owners Association.
“We hope this will set an example to other bookmakers who are either offshore or are planning to take part of their business offshore." said ROA President Paul Dixon. "We should do everything in our power to support those bookmakers who support British racing.”
Levy Board chief executive Douglas Erskine-Crum praised Sportingbet, saying that the company had explicitly recognised the importance of British horseracing to its business model in undertaking to pay levy arising from bets taken on the sport.
“It is in the betting industry’s interest to develop this virtuous circle," he said. "We are continuing to work with government as it addresses the wider betting and gaming environment but, in the meantime, we welcome Sportingbet’s initiative and call upon all betting operators based outside Britain to adopt the same constructive policy.”
Sportingbet has also joined forces with the Racehorse Owners Association in a three-year sponsorship deal, which will give the company exposure at the ROA Awards evening at the London Hilton on 3 December this year.
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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