General Betting
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if exchanges take over 90% of the entire UK horse racing markets, its reasonable to presume the levy will fall to approx £30m pa - gov revenues will also fall alarmingly - entirely due to exchanges business/profit model
If you were in gov, how would you 'restore' your piece of the cake? What legislation can they use for any offshore moves?
If you were in gov, how would you 'restore' your piece of the cake? What legislation can they use for any offshore moves?
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what proportion of sports betting is horses?
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The sport will have to become more self-sufficient.
The Levy is a holdover from an earlier era. |
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Horse racing got so big because it used to be one of the few things you could legally bet on. Now you can bet on football, Darts, the X factor etc. It's been in decline for years, so the revenue will just get smaller and smaller until it reaches a sustainable level. It happened to greyhound racing and it's just a matter of time before horse racing follows.
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Absolutely. In running liquidity struggles.
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They either give up on it or introduce a low-margin toat that is competitive w/ bf. That´s what I am hoping anyway.
But what a pipe-dream! Aren´t they about to flog the toat? |
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So refreshing to read a thread that recognises how little impact horse racing issues may actually have lon term.
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*long term.
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might help if the govt forced the firms to lay a decent bet to increase the levy they receive from each firm.
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^^^^ no chance of that happening, be a bit like telling a shop what prices they have to offer.
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Govt doesn't give a sh1t (nap)
Govt on take to bookies (nb) |
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Maybe there will eventually be a tax on exchange users, or perhaps something more substantial on the exchange itself.
If anyone from any country bets on an exchange in the UK and are taxed on it, then the exchange may leave the UK. Some exchanges are non UK resident anyway. Can't see BF sitting back losing its client base. If UK citizens or residents are taxed on any exchange they use then those with the most to lose (the top 5% seems to be banded about a lot) may well move themselves or their computer (if running bots) to more tax efficient countries. |
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off shore bots, whatever next! :)
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Exactly. The government has worked long and hard to entice the gambling industry to stay onshore. That's the reason for relaxingthe advertising rules. It knows that it will have little or no control for once these firms move offshore and that it will lose vast revenue streams from corporation tax. Whilst I can see a stupid indivudal group of MPs wanting to tax winners I can't imagine how any government would jeopardise losing the industry as a whole.
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I've never really understood what this levy is. Why do the rest of us have to fund horse racing seems to be a fair question though. If, as it seems, it's a fund that keeps the sport going, why not just pull the plug?
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Lori, slot machines in Canada fund horse racing. It has become a political issue and may change in the future. One thing for certain w/o them racing is dead.
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same with printing the cards in all the papers, 2 or 3 or more pages of sports betting prime space for fecking horses! and it cant even pay its own way ffs :(
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How many US tracks with slots would survive without them?
2010-2020 will be the decade of shrinkage in alot of traditional racing countries. |
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No one says 'Eventually' better when it comes to horse racing:
on 1 minute 17 seconds: http://www.youtube.com/watch?v=s6EaoPMANQM |
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brendanuk1 19 Dec 11:54
off shore bots, whatever next! :) Sounds like someone Michael Barrymore spends his holidays in the Caribbean with! |
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exchanges represent the cheapest form of gambling in taxation terms. it may change when govt appreciates its cake has diminished and jobs lost. books - it has to be said offer greater range of bets and often liquidity, i mean try getting a grand on a horse in the morning on this site..
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more chance here than with any firm imho
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i mean try getting a grand on a horse in the morning on this site..
It can be done if you trickle it on, instead of showing it. There's over a grand matched on several horses in the evening, if it's a big race. You won't get it on with a bookie unless you are a proven mug. |
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Premium Charge has done enough damage , any more deductions and that will be IT.
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awesome news ...i will get a fortune back in losing bets then eh??
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If the winners get taxed, on the other side of the coin the losers could try and get some sort of rebate!
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Virtual Racing could be a winner for Betfair !!
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kyjellybaby 29 Dec 21:56
awesome news ...i will get a fortune back in losing bets then eh?? Opportunity Knocks 03 Jan 16:30 If the winners get taxed, on the other side of the coin the losers could try and get some sort of rebate! love this response, seems clever but not as US and other countries do tax gambling winnings as a form of 'capital gains tax', imho would be suicide for betting industry/govt returns as betting industry is totally different in the UK and they wouldnt have changed the 9% tax law long ago etc... |