Betting and Gaming Council (BGC) members contributed a record £105 million in levy payments to the Horserace Betting Levy Board in 2023.

This figure is provided by the independent Horserace Betting Levy Board and is an increase of £5 million from 2022.

Due to this higher contribution from BGC members, the board has announced that it will increase its prize money contribution by £3.2 million for 2024, going from $67.3 million to £70.5 million.

This is the third year in a row that levy contributions have increased, from £97 million in 2021/22 to £100 million in 2022/23 and now £105 million.

The £105 million figure for 2023 is derived from provisional end-of-year submissions from Britain’s levy-paying operators.

“This record contribution to the Levy is extremely welcome news and demonstrates once again the enduring, mission critical support regulated betting provides British horseracing,” said BGC chief executive and acting chair Michael Dugher.

The BGC revealed that horseracing is the second biggest live spectator sport in the UK, with around five million attendees across some 1,400 race meetings each year.

Despite the levy payment increases, the sport is threatened by a decline in betting volume, with the percentage of the population participating in horse race betting falling from 17 per cent in 2007 to 10 per cent in 2018.

This has been accompanied by a fall in attendance at race courses amid a general decline in the popularity of the sport.

The BGC estimates that its members contribute around £350 million annually to British horseracing through the current levy, media rights and sponsorship deals.

“Despite a double-digit decline in horserace betting turnover over the past five years – and a double-digit decline in racecourse attendances – this shows that levy contributions and prize money are both up, and it once again provides a timely reminder that racing could not survive without the record financial support that is flowing from betting,” said Dugher

“Our members remain committed to the long-term success of horseracing and the huge economic contribution it makes across the country, especially in rural communities.

“Attention must now turn to how we challenge vested interests, introduce real change and reform the sport, ensuring we reverse the current decline and provide racing with a genuinely long term sustainable future.”