Following the publication this morning of a on the conclusion of the 2024 Horserace Betting Levy Review, British Horseracing Authority Chief Executive Brant Dunshea has issued the following statement
鈥淚t is disappointing that it has taken almost three years to determine there should be no change in the Levy rate.
鈥淭hroughout protracted negotiations British horseracing engaged with the Government in good faith, including providing clear evidence of a substantial 鈥� and growing 鈥� gap between our costs of providing the sport and the return we receive from betting.
鈥淔ollowing the BHA鈥檚 lobbying campaign, the Government in its last Budget recognised the vital cultural, social and economic importance of horseracing by not imposing an increase in betting duties on the sport.
鈥淚n its pre-Budget advice to the Treasury, the DCMS also warned that 鈥榰nless a carve-out for racing was accompanied by an increase in the Horserace Betting Levy鈥acing would be unlikely to feel any benefit.鈥�
鈥淭oday鈥檚 WMS leaves unexplained why, only a few months after the Budget, the DCMS now believes there is no need to change the Levy rate.
鈥淏ritish horseracing already gets a significantly lower return from the gambling industry compared to our nearest rival jurisdictions. While French and Irish horseracing gets 7.7% and 8.4% respectively, we receive less than 3%.
鈥淭his is compounded by the failure to recognise that in refusing to extend the Levy to bets placed on overseas racing, the sport in Britain is funding our international rivals which diminishes our global standing
鈥淚t was the last Conservative Government that introduced the concept of affordability checks on gambling, despite our repeated warnings of their impact on horseracing and the growth of illegal betting with all its associated risks for consumers.
鈥淭he current Chancellor recognised these dangers in her last Budget by awarding the Gambling Commission 拢26m to tackle the illegal sector.
鈥淲e agree that this Labour Government should not consider itself bound by the policies of its predecessor.
鈥淚n which case it is surely time for the DCMS and HMT to recognise that adding more red tape to an already highly regulated sector will only fuel a significant rise in illegal betting, deprive horseracing of funding and prevent the Government collecting millions of pounds in much-needed taxation.
鈥淭he Government would be genuinely鈥痗ongratulated if it took this moment to recognise the impact that no increase in the Levy will have on horseracing鈥檚 finances and stopped the introduction of affordability checks鈥痺hich鈥痶hreaten the sport鈥檚 future.鈥�
