Horserace Betting Levy Board

In light of the first three months of racing since the sport resumed on 1st June, the Horserace Betting Levy Board has invited each Levy-paying bookmaker to consider whether to maintain or revise current monthly Levy payments on account for the year ending on 31st March 2021.

Bookmakers make monthly payments to HBLB based on an estimate of Levy liability, with a reconciliation at the end of the year against the final amount due. The payments that took effect in May 2020 were agreed before racing resumed and will total around £65m until HBLB’s year-end.

However, the first three months of betting activity have led the Board to adopt a forecast income for 2020/21 of at least £70m.

Levy Board Chief Executive Alan Delmonte said: “Bookmakers’ timely payments on account have maintained HBLB’s cash flow, while the larger bookmakers that already provide voluntary up to date trading information have continued to do so. This has given HBLB the confidence and the means to make significantly over and above normal contributions to Racing in the initial stages of resumption.

“Given that we have now had three months of racing, each Levy-paying bookmaker has been asked whether they wish to maintain their current level of payment or adjust it to reflect their own expected Levy liability for the year as a whole. The purpose of doing so is to give the Board a fully-informed understanding of anticipated income as it begins to consider its expenditure budget from January 2021.”

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