The UK government has opted to retain the Horserace Betting Levy at its existing rate after a much-anticipated review. This decision drew criticism from racing authorities.
UK Maintains 10% Levy on Horse Racing Bets
Ian Murray communicated the announcement to Parliament, presenting findings from a review led by Baroness Twycross. Ministers determined that the current 10% levy on bookmakers’ profits from British horseracing will stay unchanged, with no immediate reform plans.
The levy targets operators earning over GBP 500,000 ($667,878) from bets on domestic racing. The Horserace Betting Levy Board allocates funds to support breeding, veterinary research, and improvements in the sport. Revenues reached GBP 108 million ($144.2 million) last year, showing a modest increase from the previous period.
Stability within the wider gambling sector influenced the decision, the government notes. Recent tax changes, including shifts in betting duties, were reasons to avoid further regulatory changes. Officials also rejected proposals to expand the levy to include wagers on international racing, suggesting that the current framework already reflects the bond between bookmakers and British racing.
UK Horse Racing Faces Funding Concerns Amid Policy Dispute
Horse racing remains a significant part of the UK’s sporting identity, attracting large crowds and global interest through events like the Grand National and Royal Ascot. Ministers emphasized their continued support for the sector, highlighting efforts to enhance governance, race scheduling, and animal welfare.
The British Horseracing Authority has been critical, however. Chief executive Brant Dunshea expressed dissatisfaction with both the review’s duration and its outcome, indicating that the sport had spent years engaging with policymakers and demonstrating that its financial returns from betting don’t keep up with rising operational costs.
Dunshea also highlighted a disparity between Britain and other major racing countries, noting that regions like France and Ireland secure more betting-related income for their racing industries. In contrast, he argued, the financial return to British racing remains low.
Another issue raised by the BHA involves regulatory measures like aff
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com