Horse Racing Betting in UK is to Undergo Massive Change

March 4, 2016

Horse racing betting in UK became problematic due to the strong appearance of offshore online betting. Therefore, British Horse Racing Authority aims to change the horse racing betting regulation in UK. 

According to online horse racing betting news, the current betting system costs over millions of pounds for the British government. The reason is the massive shift from betting shops to offshore online operators. Offshore online betting doesn’t provide profit for the government and the British Horse Racing Authority. Therefore, a new regulation is in progress to change the system in a way to give a piece to the government from the huge pie.

Deficit in Horse Racing Betting in UK

Representing horse racing betting in UK, British Horse Racing Authority is waiting for the government’s response in the question of restoring the actual betting levy system. The government’s aim is to reinstate the situation in terms of racing and betting without a shift to betting offshore.

According to online UK betting news, the new system could be set out soon and might get introduced in the next April. The decision would be beneficial in terms of giving a boost to the whole industry of horse racing betting in UK.

Robin Mounsey, the manager of British Horse Racing Authority expressed his expectancy in terms of the upcoming discussion due on Thursday. As he said, they are waiting for the response from the government “with interest”.

Four bookmakers have already agreed in contributing to build up a new system. Since BetVictor, Betfair, bet365 and 32Red are Authorised Betting Partners, they promised to pay their profit gained from online bets.

Currently, the tax on horse racing betting in UK is bringing roughly £100 million per year, while racing is expected to generate by over £30 million annually.