Tag: UK horseracing
Levy deal to lead to record prize money in UK horseracing
October 28, 2013
iGaming Business – The UK’s four largest retail bookmakers – William Hill, Ladbrokes, Coral and Betfred – have agreed a deal to make voluntary contributions of £4.5 million (€5.3 million/$7.3 million) per year into British horseracing’s Levy Scheme. The four-year deal, from 2014 to 2017, was announced a week before the deadline for a new agreement. The bookmakers will make the contributions into the newly-created Incentive Fund in addition to their statutory Levy contributions. Following the agreement, the Levy yield for 2014-15 is expected to be £80.2 million – including a contribution of £7.8 million from Betfair. Philip Freedman, the…