Horseracing fans urged to act over tax proposal ‘threat’
Proposed change would align racing betting tax with online casino rates.
Key points:
– HM Treasury is considering a proposal to apply the same rate of tax to horseracing bets as to online casino games
– Industry analysis suggests the change could cost British racing at least £66m ($85m) annually
British horseracing may come to a crossroads if a Treasury proposal to align betting tax rates across gambling sectors is implemented, according to racing stakeholders.
The proposed change would treat bets placed on horseracing the same as those on online casino games, removing the current distinction between skill-based betting and games of chance.
According to analysis commissioned by the British Horseracing Authority, the change could reduce funding to the sport by a minimum of £66m per year. It could also lead to job losses in the industry, which currently supports an estimated 85,000 roles across the UK.
The proposed tax model may shift consumer behaviour towards higher-risk gambling products or unregulated markets.
Horseracing is the second most-attended sport in Britain, with 59 racecourses and nearly five million spectators annually. Major events such as Royal Ascot and the Cheltenham Festival form a part of the national sporting calendar.
Good to know: The proposed tax change is one of several policy issues currently affecting the future of the sport
Supporters of the racing sector have been asked to write to their local MPs to raise the issue and encourage further scrutiny of the policy. A letter template has been circulated for use in contacting Members of Parliament and government ministers.
Industry groups have also highlighted additional challenges facing the sector, including affordability checks, operator restrictions and delays to Levy reform, which collectively risk placing further strain on racing’s financial sustainability.
The proposal comes amid other actions from the British Horseracing Authority, following an IFHA study that showed increased traffic to unlicensed betting sites in the UK.
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