The tide of gambling taxes is rising globally, with British racing facing an existential triple threat while bettors in the United States are being targeted. Australia knows the script well, but what does it mean for the future of racing? Bren O’Brien investigates.
British racing is staring down the barrel of “one of the gravest risks to racing the sport has ever seen” as the industry rallies against the UK government’s moves to “harmonise” its gambling taxes, one of the outcomes of which could see betting on racing face the same 21 per cent duty as casino games.
Termed the “Racing Tax”, the prospect of racing being put on the same level as other forms of gambling – it is currently at 15 per cent – is being used as a galvanising force by the British Horseracing Authority.
Through key media partners such as The Racing Post and Racing TV, as well as its own marketing efforts, including a slick, well-produced video highlighting the contribution of racing to the British economy, the industry is coming together to advocate for change.
Their collective aim is to convince the Treasury during a consultation process which runs until July 21 that tax harmonisation would be devastating for racing and its related industries.
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