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Evading Government Intervention

In the spotlight once again within the online casino, horseracing and gambling industry news is the contributions from UK bookmakers to the British horseracing industry. This subject matter has long been a controversial issue, especially when those who are negotiating are trying to evade any involvement from the government in reaching a certain arrangement on subsidy amounts for the horseracing tracks. In a sports business conference recently, the chief executive officer of the Jockey Club, Simon Bazalgette, announced to the conference delegates, many of whom have interests at online casinos and gambling sites, that the agreement is possibly closed. This is probably because the horseracing and bookmaking industries do not want the government to intervene with the issue, such as what happened in the previous year when both parties only ended in a stalemate.

Ladbrokes, a major bookmaker in UK also offering online casinos in the market, is hoping that an agreement will finally be reached. The spokesperson of this online casino and bookmaking company, through Reuters, said that they are looking forward for the agreement without any intervention from the minister, considering that the gap between the two parties is not as wide as last year’s.

It should be noted that the bookmakers share within the industry declined considerably since several bookmakers migrated to other jurisdictions to operate their online casinos and gambling companies—the migration was specifically to avoid paying the levy for the UK races imposed on the companies. But the gambling companies arguments have to do with them actually funding the races though opening additional channels, paying for the rates to be televised and sponsoring teams. Last year, up from 10 percent, the bookmakers were forced by the government to pay 10.75 percent.