Bookmakers Facing 10% Levy on UK Horse Racing
New government plans would see bookmakers that take bets on British horse racing from UK gamblers have to pay a 10% levy on their profits.
From April betting firms, including those located offshore, may be charged the levy in order to support UK horse racing. It seems as if the reforms are set to replace the current system which required only UK-based bookmakers to pay. The British Horseracing Authority has said that the levy is critical to the future health of British racing.
However, betting firms have said that the plans will face complex legal issues. First of all they will have to pass European Union state aid rules which could delay the reforms long beyond April. After that process is complete there is a chance that gambling firms may launch legal action to try and prevent the change.