Replacement Levy Takes Effect

British racing welcomes the introduction of a replacement betting levy which comes into effect as of tomorrow Apr. 25. In future all betting operators – whether they operate on or off-course, on or offline or on or offshore – will pay 10 per cent of their profits from British customers to British racing. The changes mean that the Levy will now capture online betting which is estimated to account for more than 50 per cent of all betting activity on the sport. It is a significant boost for the British racing and bloodstock industry as levy receipts will be targeted at growing the grassroots of British racing and will also support integrity, equine welfare, veterinary science and the mental and physical well-being of the sport's participants.

The BHA's chief executive Nick Rust sees the new Levy as a significant milestone for racing and commented, “Today is a very important day for British racing as the new Levy will make a significant contribution to securing the long term health and growth of our sport. While there remains much more to do in this regard, the levy replacement in itself is a huge achievement, and one that could not have been achieved without the determination and leadership demonstrated by Tracey Crouch MP and her team of dedicated officials at the Department for Culture, Media and Sport. Everyone in British racing owes thanks to her, and to the many supporters of our sport across and outside Westminster.”

These sentiments were echoed by Philip Freedman, owner of Cliveden Stud and chairman of the Horsemen's Group. “This is fantastic for all involved in British racing and beyond any doubt a massive boost for our horsemen,” he said. “The reformed Levy will improve owners' returns and investment, enhance breeders' confidence to invest in bloodstock, and improve prize money for trainers, jockeys and stable staff to help them sustain a living in the sport, following many years of downward pressure,” Freedman added.