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6h ago

UK Horse Racing Shuts Down Wednesday Over Proposed Betting Tax Hike

The sport mounts a one-day shutdown to pressure ministers weighing a plan to lift remote betting duty on racing to 21%.

Bookmaker Geoff Banks told AFP bookies on and off course have been suffering and big firms are itching to move off shore if the tax rise goes ahead
British racing authorities hope their historic decision to strike will persuade the government to backtrack on its plans to raise online betting tax
The tax will be another nail in the coffin for British racing whose best horses are already being bought at the sales by buyers from abroad breeder David Redvers told AFP
Trainer John Gosden told AFP the rise in betting tax will have a disastrous impact on rural communities

Overview

  • All four fixtures scheduled for September 10 at Lingfield, Carlisle, Uttoxeter and Kempton have been cancelled, with meetings moved to dates between September 8 and 15.
  • Jockeys, trainers and owners will convene in Westminster to lobby MPs as part of a coordinated industry action.
  • The government proposal would align remote betting on racing and sports with online gaming at 21%, up from the current 15% rate.
  • Industry modelling cites at least a £66 million annual hit to racing income and roughly 2,752 jobs at risk, while bookmakers point to about £380 million a year they channel into the sport.
  • Ministers are reviewing consultation responses, with final duty rates due in the autumn budget on November 26 as the Treasury pursues additional revenue projected at around £2 billion.