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WILLIAM HILL ENTERS HORSERACING LEVY DEBATE
Betting exchanges should pay the levy too.
William Hill plc, a major land and online betting group in the UK, has come out in support of a proposal that betting exchanges should contribute to the Horserace Betting Levy Board's finances.
The Board is currently conducting a consultation on betting exchanges, to which William Hill has responded.
In a statement posted on its website, the gambling group observes:
* William Hill agrees with the argument set out in the HBLB consultation document that those who trade by way of business on betting exchanges should be subject to levy
* William Hill contends that the failure to collect levy from business users of betting exchanges has led to a shortfall in funding for horseracing (estimated loss at least GBP30 million per annum)
* Given the well-developed accounting and risk systems employed by exchanges and the classification of different types of user by the exchanges themselves, definitional issues relating to business users on exchanges should not prove to be an insurmountable challenge for the authorities.
* William Hill appreciates the limitations placed on this consultation by the HBLB’s own statutory objectives, but whilst it may be possible to consider this issue purely in terms of extant legislation, there is undoubtedly the need for a wider review and possible legislative change which eliminates ambiguity and brings business users of exchanges within the scope of tax, levy and regulation. There is as the HBLB have pointed out, a lack of correlation between tax, levy and regulatory statutes. A coordinated gambling policy requires this correlation.
* William Hill is therefore calling for a full review of the betting exchange model by the authorities, but this should not hold up early action by the HBLB, which working within existing levy legislation could move to identify and levy business users of exchanges.
* This should pave the way for a more fundamental reform. The levy, an anachronistic subsidy introduced in the 1960s to compensate racecourses for loss of attendance at courses expected with the legalisation of off course betting, should be replaced by a commercial relationship between racing and the betting industry by 2013.
Ralph Topping, William Hill’s chief executive, said that his company was confident that the HBLB would agree with its belief that "...those who have decided to operate a business via betting exchanges are not appropriately levied, taxed or regulated in the same way as traditional bookmakers.
"While this disparity exists an unfair competitive advantage remains which distorts the market, resulting in a falling tax yield and dwindling financial support for racing.’’
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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