The success of the new regime in capturing bets from offshore bets placed online has exceeded expectations and the Levy will net over £90m
An announcement by the British Horseracing Authority this morning confirms that the structure of the new Racing Authority, which will take over the functions of the Levy Board from April 2019, has been confirmed by the main stakeholders. The BHA, the Horsemen’s Group and the Racecourse Association will all get two board members each, alongside two independent appointees including Sir Hugh Robertson, the chairman, a former minister for sport.
Buried in paragraph six, meanwhile, is the interesting news that yield from the 2017/18 levy scheme – the first to include mandatory payments from offshore bets placed online – is expected to exceed £90m, and could even reach £95m.
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