UK bookmakers to help mitigate horseracing lockdown losses
Bookmakers in the UK have agreed to pay additional funds as part of existing horse racing streaming and data deals to help mitigate funds lost due to lockdowns in the region.
The fees will be increased until 2 December as part of a new agreement with Racecourse Media Group which provides horseracing streaming and data to bookmakers from 35 British and 26 Irish racecourses.
The additional funds will provide racecourses with extra revenue to mitigate the shortfall created by the closure of betting shops in the UK and Ireland for the next month and the lack of crowds at race meets.
There have been no crowds allowed at race courses across the UK since March. Usually, spectators would provide more than half of a racecourse’s revenue.
The same deal was agreed in June and July during the first closure of bookmakers as a result of virus lockdowns.
Commenting on the news, Julian Thick, CEO of Newbury Racecourse, said: “We are very grateful for the betting industry to agree to paying increased fees for the next month, while most of Britain and Ireland will be locked down.”
Although the rest of the UK is in various stages of lockdown, the Betting and Gaming Council has welcomed news of the reopening of betting shops and casinos in Wales. The country’s 360 betting shops and four casinos have been permitted to reopen following a two-week COVID “fire break” lockdown.
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