British racing welcomed today’s confirmation by the European Commission that new legislation to extend the Horserace Betting Levy to all betting operators accepting bets on the sport – already cleared by the UK Parliament – is in line with EU state aid rules.
Once the Department for Culture, Media and Sport (DCMS) receive formal confirmation directly from the Commission – which is anticipated in the next few days – it is expected that the Government will confirm the effective date of the new Levy.
Nick Rust, Chief Executive of the British Horseracing Authority, said:
“With the final, outstanding approval now secured from the European Commission, today marks one of the last few steps in the process of securing a fair return from all betting on our sport. We look forward to receiving confirmation shortly from Government of when the new legislation will take effect.”
“We look forward to working closely with bookmakers to build an exciting future for both our industries. The new Levy has the potential to put an end to unnecessary divisions between racing and betting as it creates a level playing field, removes the need for annual negotiations on the rate and provides long-term certainty for both parties.”