The UK's Betting and Gaming Council has warned against further tax rises on members as it was confirmed that payments to the Horseracing Betting Levy Board are expected to increase for the fourth year in a row.
BGC members are expected to contribute a record £108m in levy payments to the HBLB for last year, new figures reveal. The figure, provided by the independent HBLB, is an increase of £3m on the previous year.
It is the fourth year in a row that levy contributions have increased, from £97m in 2021/22, to £100m in 2022/2023, £105m in 2023/2024 and £108m in 2024/2025.
This increased contribution came despite a concerning fall in betting turnover and amid threats of a further new tax hike on online sports betting.
The independent HBLB said average turnover per race was down by about eight per cent on 2023/24, representing a 15 per cent fall on 2022/23 and a 19 per cent drop on 2021/22.
Meanwhile, earlier this month the Treasury announced a new tax consultation, proposing replacing the three current online betting and gaming tax rates with a single new one, sparking fears for sports like racing.
Betting and Gaming Council CEO Grainne Hurst said: “For the fourth year running levy contributions have increased to record levels, demonstrating the growing, long-term investment regulated betting provides British horseracing.
“But it is concerning to see once more that despite record levy contributions, racing continues to struggle, both as a sport and as a betting product, with betting turnover down again year on year.
“BGC members remain committed fans of racing and recognise better than most the huge economic impact it makes in communities across the country.
“It’s now more important than ever this vital contribution is not undermined by further new tax rises through the creation of a single tax for online betting, which risks driving punters away from the sport or into the arms of the growing, unsafe gambling black market.
“These parasite operators don’t pay tax, don’t care about safer gambling and do not contribute a penny to the levy. The BGC wants sustainable growth, for our members and for racing, but any new taxes would halt investment, hurt punters and harm racing.”
