British Racing And Betfair Sign ₤ 40m Commercial Deal > 자유게시판

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British Racing and ₤ 40m industrial bet9ja's welcome offer

4 July 2012

Online wagering exchange Betfair has signed a handle British horse racing organisers, assuring a minimum ₤ 40m of financing over the next 5 years.

It will give 10.75% of all profits on the sport drawn from its UK customers.

It follows meetings with industry bodies the British Horseracing Authority, the Racecourse Association and Horsemen's Group.

In return, the sport has pledged a minimum number of components per year and to maximise betting opportunities.

The arrangement will replace Betfair's current annual voluntary Horserace Betting Levy payments.

Most significant betting firms, including Betfair, now run their online operations outside the UK and are liable to pay tax and horserace levy just on business done within the country - rather than on their total global operations.

However, previously Betfair has actually willingly paid the UK horse racing levy as though it were still British-based.

The new agreement will change this promotion code previous ad-hoc contract and will take effect from the 51st Levy Scheme, which covers the 2012-13 racing season.

"We are happy that we have had the ability to reach a contract with Betfair, one which represents a landmark for both the racing and betting industries," said Paul Bittar, president of the BHA.

"It brings lots of benefits, including considerable and increased guaranteed financing, in addition to notably providing certainty for the sport in relation to Betfair's contribution."

The Horserace Betting Levy, a major source of funding to the sport, has been slowly decreasing for many years with the moves offshore by betting companies.

And Mr Bittar said he hoped comparable arrangements to the Betfair one could now be concluded with other wagering operators.

Betfair's chief legal and regulative officer Martin Cruddace called the bet9ja's welcome offer "historic" and likewise contacted other betting firms to "embrace similar contracts to assist guarantee a strong, healthy and dynamic horseracing market in this promotion code country".

British Horseracing