The horse racing sector has expressed its dissatisfaction with Gambling Minister Baroness Twycross’ announcement that the Horserace Betting Levy will remain unchanged.
Speaking to the House of Commons, Labour Minister Ian Murray relayed the decision on behalf of the Baroness, emphasizing that it was driven by a shared view that racing is a significant contributor to the British economy and sporting landscape.
As such, horse racing is the only sport to receive a levy mandated by the government, equal to 10% of the annual gross profits of bookmakers that manage to generate more than £500,000 from bets on British horse racing.
This is managed and collected by the Horserace Betting Levy Board (HBLB), which then uses the funds to improve the sport – be it for horse breeding, science advancements and veterinary education.
