British racing took a significant step towards a new betting Levy when the UK Parliamentary process was completed regarding the implementation of an extension of the Levy to include offshore digital betting operators Wednesday evening.
Will Lambe, Director of Corporate Affairs at the British Horseracing Authority (BHA) said in a statement:
“Today, British racing has moved a significant step closer to achieving a fair, enforceable and sustainable return from all betting activity on the sport. This has been the result of a sustained campaign for a number of years.
“We appreciate enormously the support that Parliamentarians across the political spectrum have provided to our unique and multi-billion pound industry. Parliament has made clear its will that the funding of British racing should be supported by legislation that reflects fully today's digital economy.
“We now await the anticipated European Commission clearance, as the final formal step in the process and which will secure the new Levy and have a transformative effect on our sport, in particular its grassroots and our tens of thousands of employees. We look forward to working with our partners in the betting industry and beyond to grow interest and participation in our sport.”
Regarding the European Commission process, Tracey Crouch MP, Minister for Sport, Tourism and Heritage, spoke during Monday's House of Commons Committee and said, “My officials have engaged extensively with the European Commission, and as a result I am confident that we will receive that clearance shortly. To be perfectly honest, we would not have introduced these regulations to the House if we did not have that confidence.”
For the full draft of the new Horserace Betting Levy Regulations 2017, please go to www.parliament.uk.
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