Journalists Wandering Eyes Posted March 28, 2019 Journalists Share Posted March 28, 2019 The Levy Board has given British racing a one-off injection of £6.5-million in additional prizemoney for 2019, Racing Post reports. The intention of the added funds is to aid those affected by falling income from media rights, which is a fallout from the closure of betting shops as a result of the government’s decision to reduce the maximum bet on FOBTs. Levy Board chairman Paul Lee told Racing Post, “This increase in expenditure has been possible due to our additional income from the 2017 extension of the levy to bookmakers outside Britain but also because, since 2017, the board has carefully sought to increase its reserves rather than expending all of that extra income. “As far as the additional contribution to prizemoney is concerned, the board was very clear with racing that the £6.5-million is a one-off grant. It is intended to provide increased certainty to the recipients of prizemoney and breathing space for the sport while the scale and effects of licensed betting office closures become known during this year.” View the full article Quote Link to comment Share on other sites More sharing options...
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