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newsbritish betting and gaming council make record horse racing contribution

British Betting and Gaming Council Make Record Horse Racing Contribution

We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

The British Betting and Gaming Council are set to make a record contribution to the Horserace Betting Levy Board, as the latest figures are revealed.

British Betting and Gaming Council Make Record Horse Racing Contribution

According to the latest figures, members of the Betting and Gaming Council will have contributed £105 million to the Horserace Betting Levy Board in 2023.

This contribution was reported by the independent Horserace Betting Levy Board and shows a £5m increase from last year – due to an increase in popularity across the UK.

Due to this record funding funding from a variety of bookmakers, the HLBB confirmed that the prize money for 2024 will increase by £3.2m – rising from £67.3m (2023) to £70.5m.

Contributions from Levy have continued to rise over the last three years, starting at £97m in 2021/22, rising to £100m in 2022/23 and now sitting at £105m in 2023/24.

The Horserace Betting Levy Board confirmed that the £105m was generated through the receipt of provisional end of year submissions, spawning from the majority of Levy-supporting bookmakers and sports betting sites in the United Kingdom.

Betting and Gaming Council CEO and acting chair, Michael Dugher, expressed his delight about the continued increase in contributions to the Horserace Levy and believes it highlights how British horse racing could not survive without record financial support year on year.

He said (Via British Betting and Gaming Council): “This record contribution to the Levy is extremely welcome news and demonstrates once again the enduring, mission critical support regulated betting provides British horseracing.

“Despite a double digit decline in horserace betting turnover over the past five years – and a double digit decline in racecourse attendances – this shows that levy contributions and prize money are both up and it once again provides a timely reminder that racing could not survive without the record financial support that is flowing from betting.”

Louis Fargher
Louis Fargher
Louis Fargher

Louis Fargher is a sports betting writer, specializing in Football news and statistics. Publishing online articles for the Burton Albion website and producing match-day content for Chesterfield Academy. The main responsibility being to write match reports while updating the social media for the Burton Albion Ladies side. Louis has also gained experience through attending press-boxes in Premier League and EFL stadiums for his University site.

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