New Sponsor Policy For British Bookies

Bookmakers wishing to sponsor races at tracks owned by Arena Racing Company or the Jockey Club will be required to pay an agreed amount in Levy contributions or have a commercial funding agreement in place as of Dec. 31. Betting operators deemed to have a fair and mutually sustainable funding relationship with the sport will be designated as authorized betting operators, and those currently include 32Red, bet365 and Betfair. Betfred, Coral, Ladbrokes and William Hill have made voluntary contributions of £4.5 million to the industry over the last year, and future commitments will see them join the list. The authorized betting operators will also receive a package of benefits that could include racecourse data, wifi, preferential rates for digital streaming and perhaps the ability to reposition fixtures.

The policy has been put into place to stop British racing from losing an estimated £30 million a year to offshore firms.

“We are underfunded and loopholes in the Horserace Betting Levy system [allow] the majority of betting operators to make no contribution from profits made on British racing through their digital businesses,” said British Horseracing Authority Chief Executive Nick Rust. “We welcome the leading stance being taken by ARC and Jockey Club Racecourses. Every stakeholder in the sport must understand and take on their responsibly for the creation of the right structure to support the funding of our sport. This platform should help the government to complete its commitments to British racing to resolve the problems of the outdated Levy legislation with the introduction of a Racing Right to ensure a fair and equitable funding mechanism between the racing and betting industries.”

“It is simply not an option to allow the status quo to continue,” said ARC Chief Executive Martin Cruddace. “We understand that our own long-term growth and success can only be guaranteed if the whole of British racing grows and succeeds. This is a substantial undertaking involving significant short-term consequences, but it is a necessary one if we are to ensure the sport has a sound basis on which to move forward in the years ahead.”