British operators set for record horseracing contribution

The Betting and Gaming Council says British operators are set to make a “record contribution” to horseracing next year.

It said Entain, Flutter, bet365, 888/William Hill and BetFred are likely to see a record cost increase to broadcast races, which will reflect in the fact that the bill for media rights is to jump by nearly £30m.

The bill, the BGC said, is set to rise from £270.1m to £285.3m this year before climbing to £315.2m in 2024, a further jump of 10.5 per cent.

Betting and Gaming Council CEO Michael Dugher said: “BGC members are already making a record contribution to horseracing and these figures show that is only going to increase.

“This comes despite a reduction in betting turnover on racing in the last five years and a worrying decline in participation in horse race betting overall.”

The levy payments are set to increase from £50m in 2016-17 to £99m in 2022-23, according to the Horserace Betting Levy Board.