UK Horserace Levy Scheme Finally Agreed On


After a long debate, the Horserace Betting Levy Board (HBLB) and the Bookmakers' Committee agreed on the UK Horserace Levy Scheme, estimating a return of GBP 72.9 million from April 2013 to March 2014, which will include a voluntary contribution to British Racing, through the Levy Board, from online betting exchange Betfair (around GBP 7 million).

Three biggest bookmakers in the UK - William Hill, Ladbrokes and Gala Coral agreed on the terms of the 52nd Levy Scheme, guaranteeing that they will jointly contribute with not less than GBP 45 million.

According to Levy Board Chairman Paul Lee, 'The Board is extremely pleased to have reached unanimous agreement. This will provide further stability and make possible significant additional expenditure on prize money in 2013. I would like to give recognition to Betting and Racing for the constructive approach that they have taken in seeking early resolution to the terms of the next Levy Scheme.'

Thanks to an increase in the Board's income, a decision to prioritize additional expenditure on prize money and the agreement of the terms of the 52nd Levy Scheme Prize, the Horserace Betting Levy Board money allocations will next year exceed GBP 50 Million, which represents an increase of 30 percent on 2012 and 45 percent on 2011.

Sports Society News General Sportsbook News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from us flag United States read article Italian Cup: AC Milan vs Lazio preview

Sports Community

Share this page on:
Follow LSB on:
Follow LSB

Join Now for full access

In the last 24h

Totals

  • New Members
    4
  • Members Online
    16
  • Guests
    923



eighteen plus only

Follow LSB on Facebook Follow LSB on Twitter Follow LSB on Pinterest Follow LSB on Google plus