Levy Board Annual 2018/19 Report Released

The 2018/2019 Horserace Betting Levy Board (HLBL)'s annual report was released on Tuesday. HBLB Chairman Paul Lee, whose 10 1/2-year term ended on Mar. 31, noted the following:

• the UK government continues to work with the HBLB and other facets of the industry to maximise the benefit of changes made to the Levy in 2017, including primarily the capture of Levy income from bets placed by British-based customers with bookmakers outside Britain;
• the Levy income was adjusted from £78 million to £83 million after an agreement between the HBLB and certain betting operators as to the treatment for Levy purposes of a particular type of promotional bet offer
• the above point made possible the publication of accounts in 2020 that accurately reflect the final 2018/19 financial position
• the HBLB financial reserve stood at £48 million as of Mar. 2019
• HBLB increased its contributions in several areas, including prize money in 2018/19, despite fall in Levy income
• HBLB introduces a payment towards the installation of sectional timing/tracking systems during fixtures
• HBLB also started a betting data project and took responsibility for the new Betting Liaison Group, made up of senior betting and racing representatives

For more information, go to www.hblb.org.uk.