Offshore Bookmakers To Pay For Right To Bet On British Racing

Friday, 21st March 2014

George Osborne's announcement in Wednesday's Budget Speech that racing deserved Government backing to gain what he termed a "Racing Right," which is a commercial mechanism that enables the sport to claim money from its customers, was hailed as a "breakthrough" by the sport's leaders, reports telegraph.co.uk. The Chancellor of the Exchequer also announced that bookmakers based offshore would now be subject to legislation that demanded Levy payments from them for the right to bet on British racing. For many years, they have escaped paying the Levy because of their geographical position. "Today's announcement by the Chancellor represents a major milestone in our efforts to secure the future finances of our industry," said Paul Bittar, chief executive of the British Horseracing Authority. "For too long, we have sought a funding mechanism which reflects the nature of the modern Racing and Betting industries. Today's commitment brings us considerably closer to achieving this goal, and securing the future of one of the country's leading sports, and a major employer across the country." One surprise announcement by the Chancellor was the decision to raise the duty on gaming machines in betting shops, which will result in a fivefold increase from 5 per cent to 25 per cent. The London Stock Exchange reacted immediately to the news with shares for both Ladbrokes and William Hill falling dramatically, as these machines are seen by many as a core product for the betting

So what does this mean for south african bookmakers including obviously bettingworld?? Major things seem to be happening everywhere for the industry. First Hong Kong now UK...

Nothing

can i bet off?shore

Hit em hard Wrote:

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> can i bet off?shore

LOL (tu)

the Tories robbing the poor to subsidise the rich once again.

chicken 'n chips Wrote:

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> the Tories robbing the poor to subsidise the rich
> once again.

Tories / Labour, Democrats / Republicans, ANC / ANother, etc, etc...whoever wins an election gets to access the purse and that is SOLELY what it is about...

PHUMELELA MEDIA RELEASE
SUBJECT: Off-shore bookmakers to pay for right to bet on British racing
DATE: Monday 24 March 2014
RELEASED BY: Phumelela Gaming and Leisure Limited

According to a report in The Telegraph online, off-shore bookmakers will have to pay for the right to bet on British horseracing into the future.
The report states: UK Chancellor of the Exchequer George Osborne’s announcement in his Budget Speech that horseracing deserved Government backing to gain what he termed a “Racing Right,” which is a commercial mechanism that enables the sport to claim money from its customers, was hailed as a “breakthrough” by the sport’s leaders.
Osborne also announced that bookmakers based offshore would now be subject to legislation that demanded Levy payments from them for the right to bet on British racing.
For many years, they have escaped paying the Levy because of their geographical position. “Today’s announcement by the Chancellor represents a major milestone in our efforts to secure the future finances of our industry,” said Paul Bittar, chief executive of the British Horseracing Authority, this week.
“For too long, we have sought a funding mechanism which reflects the nature of the modern racing and betting industries. Today’s commitment brings us considerably closer to achieving this goal, and securing the future of one of the country’s leading sports and a major employer across t

You got to remember most of these offshore bookies are UK bookies who are working from Gibraltar to escape the levvy

williamhill.com


Important Account Information

We regret to inform you that William Hill has taken a decision to withdraw all of its online betting and gaming services for all residents of South Africa for the foreseeable future.

We sincerely apologise for any inconvenience this may cause you; however this decision has been taken for regulatory reasons beyond our control.

We will be suspending all accounts of all residents of South Africa from midday (GMT) 26th March 2014. After this date, you will not be able to use your account to access our online sportsbook, casino or games products.

You will be able to check your account and withdraw any outstanding balance at any time, unless we notify you otherwise in future. To do so, please visit our website. Simply Login, select 'My Account' and then 'Withdraw' to request a return of your outstanding balance.

If you experience any problems accessing your account or withdrawing your funds, you can contact Customer Services by emailing support@williamhill.com

We would like to take this opportunity to thank you for your loyal custom and support of William Hill. If these circumstances change, we will not hesitate to contact you.

Yours sincerely,

The William Hill Team

Does this also mean that I will not be able to tune into their radio station?