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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 .

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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.

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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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