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UK Horseracing is Big Business
10/13/09 - A report by the Sports Business Group at Deloittes has revealed that horseracing is the UK’s second most popular sport after football and generated expenditure of GBP 3.4 billion last year, triggering calls by racing officials for bigger rewards.
The British Horse Racing Authority said that the contribution to the national economy rose to GBP 3.7 billion if capex was added. Officials reiterated a call for reform of the levy system, through which bookmakers contributed GBP 118 million to the racing industry last year.
Commissioned by the BHRA, which has repeatedly called for greater levies from the bookmaking sector, the Deloittes study found that
horseracing businesses contributed at least GBP 325 million in tax last year and GBP 1.5 billion since 2004.
British racing provides the economy with 18 600 full-time equivalent jobs, the vast number in rural areas, while the onshore betting industry employs an estimated 52 000.
Researchers found that Britain was second only to Japan in the total amount wagered on racing at GBP 12.1 billion compared with just under GBP 14 billion in that country. But the industry in Japan realised a return of 5.3 percent, whilst that in Britain this was only 1 percent. In the US and France, the return was 8 percent.
Nic Coward, chief executive of the British Horseracing Authority, said: “Deloitte’s study reiterates that British horseracing, as the second biggest sporting activity in Britain, is a significant contributor to the leisure, agricultural and rural economies in Britain.
“It also highlights the disparity regarding the returns to the sport from betting compared to other major racing nations. If further demonstration of our broken system was needed, we have the second highest betting turnover of the major racing nations yet the lowest return by far from the betting industry to our sport."
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.
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