The Betting and Gaming Council (BGC) has raised concerns about the potential negative impact of further tax increases on the gambling industry, particularly on horseracing funding. Despite this, new figures reveal that betting operators have contributed a record £108m in Levy payments to the Horseracing Betting Levy Board (HBLB) for the 2024/2025 period—marking a £3m increase compared to last year and continuing a trend of rising contributions for the fourth consecutive year. Levy Contributions Rise, But Betting Turnover Declines This year’s rise in Levy payments comes amid a worrying decline in betting turnover, with the HBLB reporting an 8% drop in average turnover per race from 2023/2024 figures. This represents a 15% fall compared to 2022/2023 and a 19% drop from 2021/2022. Despite the increased Levy contributions, which have been growing since 2021, the ongoing struggle of the racing industry to maintain its economic strength persists. The HBLB’s Levy payments… Read More
Category: News
Source: Casino News Daily
