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UK government announces Horserace Betting Levy overhaul

16th January 2017 9:00 am GMT

All operators accepting bets on horse racing from players in the UK will be required to pay 10 per cent of gross profit from such bets to help support the sport and the country's equine industry, Sports Minister Tracy Crouch has announced.

The government’s long-awaited replacement for the existing Horserace Betting Levy will see companies required to pay 10 per cent of gross profits above the first £500,000 they make.

It replaces the existing Levy system, which [...]

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