{"id":195,"date":"2024-06-17T19:57:01","date_gmt":"2024-06-17T16:57:01","guid":{"rendered":"https:\/\/pacificspinscasinonodepositbonus.icu\/2024\/06\/17\/uk-betting-operators-propose-levy-overhaul-to-revitalize-horse-racing-funding\/"},"modified":"2024-06-20T17:11:51","modified_gmt":"2024-06-20T14:11:51","slug":"uk-betting-operators-propose-levy-overhaul-to-revitalize-horse-racing-funding","status":"publish","type":"post","link":"https:\/\/pacificspinscasinonodepositbonus.icu\/2024\/06\/17\/uk-betting-operators-propose-levy-overhaul-to-revitalize-horse-racing-funding\/","title":{"rendered":"UK Betting Operators Propose Levy Overhaul to Revitalize Horse Racing Funding"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/zFBci9ZgvNQ\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>UK betting operators are advocating for a comprehensive transformation of how their sector financially supports horse racing.  They aim to replace the existing levy system, established five decades ago, with a new commercially-driven agreement. <\/p>\n<p>The ABB contends that the current framework is obsolete and no longer serves its intended purpose. As an alternative, they suggest a racing-centric, voluntary system granting them greater influence over the racing schedule. This, they posit, would enable the creation of a more attractive racing product, benefiting both the racing and wagering sectors.<\/p>\n<p>To facilitate this shift, the ABB is requesting a three-year period to negotiate a lasting agreement with the racing industry.  They also believe the government should play a role in fostering this process, such as maintaining the VAT exemption for betting.<\/p>\n<p>ABB&#8217;s Chief Executive, Dirk Vennix, declared: &#8220;The time has come to eliminate the betting levy, which has simply run its course. It should be phased out by 2014.&#8221; He stressed the necessity of redefining the relationship between racing and bookmaking, establishing a contemporary business model appropriate for the 21st century.<\/p>\n<p>The racing industry has signaled its openness to engaging in direct commercial discussions with the betting sector, aiming to establish an equitable and enforceable payment structure. <\/p>\n<p>We concur with the overall feeling and are pleased to embrace the administration&#8217;s plan. A fruitful discussion with the equestrian sport sector is undoubtedly the path to success, and through collaboration, we can optimistically forge a sustainable operational framework for the year 2014. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>UK betting operators are advocating for a comprehensive transformation of how their sector financially supports horse racing. They aim to replace the existing levy system, [&#8230;]<\/p>\n","protected":false},"author":74,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Betting Shakeup: Modernizing Horse Racing Funding<\/title>\n<meta name=\"description\" content=\"Is it time for a change? UK betting operators are pushing for a modern funding model for horse racing, aiming to replace the 50-year-old levy system. 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