Horserace Betting Levy Board

The Horserace Betting Levy Board has revised upwards, by approximately £5m, the Levy yield for 2018/19. The total for the year to 31st March 2019 is now therefore £83m compared to the provisional sum of £78m announced in May 2019.

The Board reported in August 2019 that it had asked all Levy-paying bookmakers for information on certain bet types offered during the 2018/19 year. The Board is grateful to bookmakers for their constructive and cooperative approach and the timeliness of their responses to enquiries.

Following consideration of additional information provided by the bookmakers and with the benefit of further legal advice, certain operators were invited to submit revised returns, which all have now done.

Levy Board Chairman Paul Lee commented: “The issues involved here are complex, turning as they do on the construction of legislation and its operation, specifically in relation to certain types of bets. All bookmakers have now paid Levy on these bets in accordance with the legislation. 

“To achieve agreement on this matter is important, not only in effecting a significant increase on the provisional £78m announced for 2018/19 but also for assessing Levy liability in the current year and future years.

“This very satisfactory outcome would not have been achieved but for the hard work of the Executive who have diligently pursued these matters whilst maintaining good relationships with the bookmakers. We are also grateful to our legal advisors, Herbert Smith Freehills, and to counsel.”

For further information, please contact Levy Board Chief Executive Alan Delmonte on 07931 701536