Racing Right

In an announcement described as “truly historic” by the British Horseracing Authority's Chief Executive Nick Rust, British racing will receive a new funding system from next April after the government confirmed its intention to replace the current Horserace Betting Levy. Under the new model, racing will benefit by being able to recoup charges from bookmaking firms for all bets on the sport, thus closing the loophole which currently exists for operators based offshore and for remote betting through online devices, which accounts for almost 50% of bets placed on horseracing....