\n<\/p>\n
Lord Charles Allen, the chair of the British Horseracing Authority, paid tribute on Wednesday to \u201ceveryone who has played their part across the sport\u201d following the budget announcement by the chancellor, Rachel Reeves, that the rate of duty for betting on horse racing will remain unchanged at 15%.<\/p>\n
Confirmation that racing would be exempt from tax hikes on online casino gaming as well as betting on football and other sports follows a seven-month campaign under the slogan \u201cAxe The Racing Tax\u201d, which initially launched in response to a Treasury proposal to \u201charmonise\u201d the duty paid on both betting and gaming at a single rate.<\/p>\n
Instead, the chancellor opted for a new regime on gambling duty with a focus on online games of chance, which are associated with significantly higher rates of gambling-related harm than single-event betting. Remote Gaming Duty (RGD), the tax paid on profits from online slots and casino games, will effectively double, from 21% to 40%, and while the tax rate for online betting on sports other than racing will rise from 15% to 25%, there is no change to the rate on either machine gaming or sports betting in high-street shops.<\/p>\n
\u201cI would like to commend the chancellor and the government for listening to the concerns of British racing and offering their clear support for our sport,\u201d Lord Allen said on Wednesday, \u201c[and] thank everyone who has played their part across the sport, standing as one to communicate our message.<\/p>\n
\u201cThe government has rightly recognised that we are not only a vital part of the fabric of the British way of life, but we are also a global leader and one of the country\u2019s most important soft power levers. We want to maintain Britain\u2019s place on the world stage.\u201d<\/p>\n
Martin Cruddace, the chief executive of Arena Racing Company (Arc) and a key figure in the \u201cAxe The Racing Tax\u201d campaign, said the sport had \u201cbeen clear throughout that harmonisation of tax rates of British racing and other betting and gaming products would gravely impact our industry.\u201d<\/p>\n
Cruddace added: \u201cAs a sport and industry, we continue to offer a real contribution to this country, supporting communities and culture. I am so glad that the government has recognised that fact and helped put our sport on a path to growth.\u201d<\/p>\n
The new gambling duty regime is closely aligned to proposals put forward by the Social Market Foundation (SMF) think tank in July, and also follows an intervention in the debate in August by the former prime minister, Gordon Brown, calling for a significant rise in online gaming duty.<\/p>\n
<\/span>Rachel Reeves announced in Wednesday\u2019s budget that the rate of duty for betting on horse racing will remain unchanged at 15%. <\/span> Photograph: House of Commons<\/p>\n \u201cThis decision mirrors the proposals made in our recent SMF report on gambling tax,\u201d Dr James Noyes, one of the authors of the report, said. \u201cWe are pleased that the government has decided to differentiate between different types of gambling product \u2013 increasing the duty on more harmful remote casino content while protecting horseracing from the planned rise in betting duty.<\/p>\n \u201cFor too long, the online gambling industry has been undertaxed. This decision by the chancellor will ensure that operators pay their fair share and brings the UK into line with international best practice.\u201d<\/p>\n Gambling operators\u2019 profits on racing bets are subject to an additional 10% deduction to fund the Levy, and the decision to increase the rate of duty on non-racing bets, effectively aligning these with racing bets at a total deduction of 25%, will be expected to increase the sport\u2019s attractiveness as a product for online operators.<\/p>\n The budget statement also allocated an additional \u00a326m for the Gambling Commission to combat a possible increase in unlicensed gambling, which has been repeatedly raised by the Betting and Gaming Council, the industry\u2019s main lobbying group, as a potential result of tax rises.<\/p>\n Quick Guide<\/span><\/p>\n <\/span>Show<\/span><\/span><\/p>\n Uttoxeter:\u00a012.25 Merry Monty 12.55 Khrisma 1.30 Double Click 2.05 Holokea 2.40 Fortune Dancer 3.15 Soldier\u2019s Leap.<\/p>\n Taunton:\u00a012.35 Miss Altea Blue 1.05 Iris Des Issards 1.40 Maximum Offers 2.15 Ellerton 2.50 Bashful Boy 3.22 Begin The Luck 3.52 No Risk Today.<\/p>\n Lingfield:\u00a012.40 Malago Rose 1.15 Moor End 1.50 Broomfield Aderra 2.25 Noble Park 3.00 Mondo Man 3.33 Defi Nonantais.<\/p>\n Newcastle:\u00a03.28 Jez Bomb 4.05 Leonetto 4.40 Mythical Bay 5.15 Unassuming 5.45 Henery Hawk 6.15 Uniting 6.45 Secret Guest 7.15 Bungle Bay.<\/p>\n Chelmsford:\u00a04.30 Accommodation 5.00 Snow Light 5.30 Diamond Ali 6.00 An Bradan Feasa 6.30 Madrigal Moment 7.00 Calafrio (nap) 7.30 Parlando (nb) 8.00 Eliza Bennet 8.30 Stratoc.<\/p>\n Thank you for your feedback.<\/p>\n \u201cWe want to collaborate with our betting operator partners to grow the sport,\u201d Brant Dunshea, the BHA\u2019s acting chief executive, said, \u201cand I\u2019m absolutely convinced that betting operators and racing have a shared interest in doing that and are committed to doing so.<\/p>\n \u201cOur sport is often criticised for being fragmented and not joined up. I think [the success of the campaign] is a very good example of how when the sport comes together with a shared purpose and a shared goal, we are an incredibly powerful voice to government.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Lord Charles Allen, the chair of the British Horseracing Authority, paid tribute on Wednesday to \u201ceveryone who has played their part across the sport\u201d following the budget announcement by the chancellor, Rachel Reeves, that the rate of duty for betting on horse racing will remain unchanged at 15%. Confirmation that racing would be exempt from<\/p>\n","protected":false},"author":1,"featured_media":35419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53],"tags":[12256,113,1972,3879,6833,6834,2656,19960,344,101,3518],"class_list":{"0":"post-35418","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports","8":"tag-axe","9":"tag-budget","10":"tag-campaign","11":"tag-celebrates","12":"tag-horse","13":"tag-racing","14":"tag-reeves","15":"tag-spares","16":"tag-sport","17":"tag-tax","18":"tag-victory"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/35418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35418"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/35418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/35419"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Greg Wood’s Thursday tips<\/h4>\n