{"id":163,"date":"2024-06-13T18:04:28","date_gmt":"2024-06-13T15:04:28","guid":{"rendered":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/uk-horse-racing-sees-funding-boost-amidst-levy-hikes-and-modernization-needs\/"},"modified":"2024-06-13T18:04:28","modified_gmt":"2024-06-13T15:04:28","slug":"uk-horse-racing-sees-funding-boost-amidst-levy-hikes-and-modernization-needs","status":"publish","type":"post","link":"https:\/\/vegas2webnodepositbonus.icu\/2024\/06\/13\/uk-horse-racing-sees-funding-boost-amidst-levy-hikes-and-modernization-needs\/","title":{"rendered":"UK Horse Racing Sees Funding Boost Amidst Levy Hikes and Modernization Needs"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/n9fFIkXFzg0\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The UKs equestrian racing sector experienced a notable upswing in 2022, with a \u00a3455 million ($582 million) infusion from wagering and gaming entities. This considerable amount, verified by the Betting and Gaming Council (BGC), highlights the sector&#8217;s dedication to the sport.<\/p>\n<p>Nevertheless, this occurs amidst escalating racing levies. The horse racing levy, a crucial financial instrument for the sport, is anticipated to hit \u00a399 million in 2022\/2023, a sharp rise from the \u00a350 million gathered in 2016\/2017.<\/p>\n<p>Despite a 10.3% dip in wagering revenue over the preceding five years, the BGC has vowed to bolster its backing for British horse racing. This pledge is particularly significant considering the ongoing deliberations regarding potential tax hikes arising from the recent gambling white paper.<\/p>\n<p>BGC Chief Executive Michael Dugher stressed the industry&#8217;s commitment to the sport, remarking, &#8220;The regulated wagering and gaming sector is essential to the financing of racing, but its contribution should not be assumed.&#8221; He recognized the fiscal strains confronting both racing and the wagering industry, especially following the pandemic and amidst economic instability. <\/p>\n<p>The Racing Authority Board is dedicated to collaborating with prominent figures in the field, such as the UK Horseracing Authority, to ensure its not just continued existence but also its flourishing for many years to come.  It&#8217;s widely acknowledged that the sport requires modernization, and financial backing must accompany these transformations. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UKs equestrian racing sector experienced a notable upswing in 2022, with a \u00a3455 million ($582 million) infusion from wagering and gaming entities. This considerable amount, verified by the Betting and Gaming Council (BGC), highlights the sector&#8217;s dedication to the sport. Nevertheless, this occurs amidst escalating racing levies. The horse racing levy, a crucial financial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>UK Equestrian Racing Sees Record \u00a3455M Boost, But at What Cost?<\/title>\n<meta name=\"description\" content=\"The UK equestrian racing sector enjoys a \u00a3455 million surge thanks to wagering and gaming, but with rising racing levies on the horizon, is it sustainable? 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