UK racing leaders urge for more funding from bookmakers

Industry leaders of horseracing, one of the traditional venues of betting in the UK, are asking the betting industry to provide more funding so that betting on horseracing would further grow. Leading the pack is Maggie Carver, the chairwoman of Racecourse Association (RCA), who said the following in the organization’s annual report:

 “Racing is critically dependent on betting income and there is a pressing need for the industry to work with bookmakers to invest in initiatives to grow racing betting.” As part of the new arrangements for the Racing Authority, the RCA has been at the forefront of setting up the Betting Liaison Group, which we hope will form the basis of a new and constructive relationship with bookmakers.”

According to Ms Carver, the RCA is setting up a “Betting Innovation Group” that will report to the Betting Liaison Group in order to strengthen relationships with bookmakers.

Racing could lose an estimated €44.6 million to €66.9 m in income from the betting industry as a result of shops being forced to close after the government’s decision to cut FOBT stakes to €2.2.

 “It will be critical for us to be disciplined and effective in the way income is spent,” the RCA chairwoman said.

Source: Focus Gaming News