{"id":93,"date":"2024-06-13T21:36:01","date_gmt":"2024-06-13T18:36:01","guid":{"rendered":"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/"},"modified":"2024-06-17T13:22:56","modified_gmt":"2024-06-17T10:22:56","slug":"uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding","status":"publish","type":"post","link":"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/","title":{"rendered":"UK Gambling Industry Proposes Levy Overhaul to Reshape Horse Racing Funding"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/F6D4zUO4plE\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>UK gambling companies are advocating for a significant overhaul of how their sector financially backs horse racing, suggesting the termination of the longstanding betting levy system.<\/p>\n<p>In place of this tax, which has existed for five decades, the Association of British Bookmakers (ABB) wants to establish a new, voluntary business arrangement based on a more equitable financial support structure directly linked to the profits they gain from horse racing. They contend that this would grant them greater influence over the sport&#8217;s schedule and enable them to develop a more attractive racing product, ultimately advantageous to both sectors.<\/p>\n<p>To achieve this, the ABB suggests a three-year implementation phase to discuss and enact the new system. They are also requesting that the government contribute by maintaining the betting industry&#8217;s exemption from specific taxes. These suggestions are detailed in a preliminary consultation paper presented to the government. <\/p>\n<p>Dirk Vennix, Chief Executive of the ABB, asserts that the existing levy system is obsolete and no longer suitable. He believes that a new business partnership would forge a more robust and contemporary collaboration between betting and racing, mirroring the realities of the 21st century.<\/p>\n<p>The horse racing sector has also indicated a willingness to engage in direct business discussions with betting companies, aiming for a system that provides equitable and assured financial support for the sport. <\/p>\n<p>Mostly agreed with this concept and would appreciate a fruitful discussion between the administration and the equestrian sport sector.  Finding a viable way ahead is crucial, particularly regarding the financial framework, with 2014 fast approaching. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK gambling companies are advocating for a significant overhaul of how their sector financially backs horse racing, suggesting the termination of the longstanding betting levy system. In place of this tax, which has existed for five decades, the Association of British Bookmakers (ABB) wants to establish a new, voluntary business arrangement based on a more [&hellip;]<\/p>\n","protected":false},"author":96,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Horse Racing Shake-Up: UK Bookmakers Propose Levy Overhaul<\/title>\n<meta name=\"description\" content=\"Say goodbye to the old betting levy! UK bookmakers want a brand new system to financially support horse racing, directly tied to their profits. Will this revolutionary idea race to the finish line?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Gambling Industry Proposes Levy Overhaul to Reshape Horse Racing Funding\" \/>\n<meta property=\"og:description\" content=\"Say goodbye to the old betting levy! UK bookmakers want a brand new system to financially support horse racing, directly tied to their profits. Will this revolutionary idea race to the finish line?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/\" \/>\n<meta property=\"og:site_name\" content=\"Where Casino Enthusiasts Gather for Secure &amp; Licensed Fun\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-13T18:36:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-17T10:22:56+00:00\" \/>\n<meta name=\"author\" content=\"Lily &quot;Lotus&quot; Boone\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lily &quot;Lotus&quot; Boone\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/\",\"url\":\"https:\/\/gossipslotsnodepositbonus.icu\/2024\/06\/13\/uk-gambling-industry-proposes-levy-overhaul-to-reshape-horse-racing-funding\/\",\"name\":\"Horse Racing Shake-Up: UK Bookmakers Propose Levy Overhaul\",\"isPartOf\":{\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-13T18:36:01+00:00\",\"dateModified\":\"2024-06-17T10:22:56+00:00\",\"author\":{\"@id\":\"https:\/\/gossipslotsnodepositbonus.icu\/#\/schema\/person\/a8e509c429c865be7a0aefdc096b4dfd\"},\"description\":\"Say goodbye to the old betting levy! 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