Matt Hancock welcomes Betting levy reforms

MATT HANCOCK WELCOMES CHANGES TO THE BETTING LEVY

Matt Hancock MP has welcomed changes to the Betting Levy which will come into force on 25 April 2017. These reforms extend the levy so that it applies to betting operators based offshore.  Under the reforms, any betting business that takes bets from customers in Britain, on British racing, must pay the levy.  The levy contributes funding to a range of areas including prize money, integrity, equine welfare, and veterinary science .

Commenting, Matt Hancock said:

“After a six year long campaign, the reforms to the Horseracing Levy have been signed into law. It's incredibly good news for British racing, and as the biggest centre of racing in the country, it's great news for Newmarket in particular.

“The levy has been changed to now apply to offshore businesses and it will create a level playing field amongst betting operators. This is a huge win for all those involved in racing and it will help the industry to further grow and prosper.”