The Betting and Gaming Council donates £455m to British Horse Racing in 2022
Date: 2023-08-02 Author: Kirill Zagoruyko Categories: SPORTS BETTING
Data from the Betting and Gaming Council (BGC) shows that its members directly contributed £455m ($582m) to UK horse racing last year in fees, media rights and sponsorship deals.
However, according to the Horse Racing Collection Board, fee payments are forecast to be £99 million in 2022/2023, up from £50 million in 2016/2017.
The Department of Culture, Media and Sports has pledged to revise the horse racing tax by next year.
The Horse Racing Collection, which is administered by the Horse Racing Collection Board, aims to improve the sport, breeding and development of veterinary care.
Despite betting turnover down 10.3% over the past five years, BGC has committed to donating more to British horse racing than ever before.
The BGC is keen to highlight its current contributions with talk of a potential increase in future fees following the recommendations of the White Paper.
Michael Dager, CEO of BGC, said: “Staking continues to fund the sport, but it is not a bottomless pit. I know that racing is like any other sport and our own land based betting and gaming industry is trying to bounce back from the pandemic in the face of severe economic hardship.
“This is why the BGC is fully committed to working with the leadership of the sport, including the BHA and others, to ensure that racing not only survives but thrives. Anyone as passionate about the sport as I am understands that racing has to change. Future investments must be accompanied by reforms.”
However, according to the Horse Racing Collection Board, fee payments are forecast to be £99 million in 2022/2023, up from £50 million in 2016/2017.
The Department of Culture, Media and Sports has pledged to revise the horse racing tax by next year.
The Horse Racing Collection, which is administered by the Horse Racing Collection Board, aims to improve the sport, breeding and development of veterinary care.
Despite betting turnover down 10.3% over the past five years, BGC has committed to donating more to British horse racing than ever before.
The BGC is keen to highlight its current contributions with talk of a potential increase in future fees following the recommendations of the White Paper.
Michael Dager, CEO of BGC, said: “Staking continues to fund the sport, but it is not a bottomless pit. I know that racing is like any other sport and our own land based betting and gaming industry is trying to bounce back from the pandemic in the face of severe economic hardship.
“This is why the BGC is fully committed to working with the leadership of the sport, including the BHA and others, to ensure that racing not only survives but thrives. Anyone as passionate about the sport as I am understands that racing has to change. Future investments must be accompanied by reforms.”
