Skip to main content

the Betfair/BHA Levy deal

So Betfair and the BHA have struck a five-year deal which should deliver 'at least' £40m in funding to the British racing industry. The deal has been struck at 10.75% of revenues from British residents wagering on UK racing, effectively locking in the rate they already pay as a voluntary figure, since Betfair are now baed in Gibraltar.

A few comments:
1. Well played to both sides on getting in early. Getting the lawyers in only makes those leaches richer and does nothing for forging stronger relationships.

2. This deal sets an example for other firms as the industry tries to phase out the Levy scheme.

3. The deal doesn't go far enough in that whether someone is based in Britain or not should be irrelevant - if they bet on British racing, then they should be supporting British racing. But since this group have seemingly abandoned Australian racing, will they start paying UK revenue if they move further into British racing?

4. Critics of Betfair will say this doesn't go far enough... yet at the same time, they are happy to support the High St bookies who all moved to Gibraltar first to avoid paying Levy and/or tax on their online and phone business.

Will the second reading of the bill to tax bets from British residents at the point of placement rather than processing put a further sting in the tail for UK firms?

Comments

Popular posts from this blog

Preview de la Prix de l'Arc de Triomphe 2020

The European flat racing season comes to its natural conclusion in this messed up hell of a year. The queen of the turf, Enable, goes for an historic third win but it has been wet and cold all week in Paris, making it a tough old slog in deep ground. There won't be much of a crowd there to 'bring the house down' if she wins, in front of no more than 1000 paying spectators, but the racing world will be tuning in across the globe. =============================================== Prix de L'Arc de Triomphe   ParisLongchamp, 1605 local, 1505 BST, 0005 Monday Sydney time.  2400m, Group 1 Weight-for-Age, (no geldings)  Approx €3m.  Expected Going - Heavy.  1.Persian King - 4yo, Kingman/Pretty Please - Andre Fabre - Pierre Charles Boudot   Star French colt stepping up to a mile and a half for the first time. Won the French 2000 Guineas (Poulains) on heavy ground but ran fourth (only time in his career finishing worse than second) in the Jacques Le Marois, almost nine lengt

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals. Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview! -------------------------------- The Lexus Melbourne Cup Group 1, Handicap, 3200m AUD 7,750,000 Flemington 1500 local, 0400 GMT Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK) 1. Cross Counter Trainer - Charlie Appleby (one previous Cup win) Jockey - William Buick Breeding - Teofilo - Waitress Drawn 5, Weight 57.5kg Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. W