BGC Give £455 Million to British Horseracing in 2022

The Horserace Betting Levy Board projects that levy payments will increase from £50 million in 2016–2017 to £99 million in 2022–2023.

BGC Give £455 Million to British Horseracing in 2022

According to data from the Betting and Gaming Council (BGC), its members directly invested £455 million ($582 million) in British horseracing last year through levies, broadcast rights, and sponsorship arrangements.

The Horserace Betting Levy Board projects that levy payments will increase from £50 million in 2016–2017 to £99 million in 2022–2023.

The Horseracing Levy will be reviewed by the Department for Culture, Media, and Sport by the following year.

The Horserace Betting Levy Board is responsible for administering the Horseracing Levy, which supports veterinary research, breeding, and sport improvement.

Michael Dugher, BGC CEO, said:

“Betting continues to bankroll the sport but it is not a bottomless pit. I know racing, just like any other sport and indeed our own land-based betting and gaming industry, is trying to bounce back post-Covid in the face of seriously challenging economic headwinds.

“That is why the BGC is fully committed to working together with the leadership of the sport, including the BHA and others, to ensure racing not only survives but thrives. Anyone who cares passionately about the sport, as I do, understands that racing must change. Future investment must come with reform."