Betting Business News – Industry Developments
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Industry Developments:
The betting industry is having to play the waiting game on a number of fronts as politicians and regulators work on matters which are likely to have a lasting effect on the sector.
Most immediately both bookmakers and racing are waiting for the European Commission to give their approval to the government’s plans for levy reform which will result in remote operators being caught in the levy net for the first time.
The new system became law at the end of March but cannot come into force until it gets the nod from Europe on state aid grounds.
However, of greater concern to the industry is the government’s review of gambling and most importantly the Triennial Review of gaming machine stakes and prizes contained within it.
Speculation is growing that the government will cut stakes, with former culture secretary John Whittingdale warning betting shop operators they need to brace themselves for “significant change”.
Bookmakers have in turn warned that deep cuts in stakes would lead to significant betting shop closures and job losses and damage to horse and greyhound racing.
The government said it would release its findings in the spring but there has been no news yet and it may not come until May or perhaps even early June.
Also due to come in May is news of the outcome of the Competition and Markets Authority’s investigation into online operators’ terms and conditions.
The Triennial Review was a recurring theme as a number of bookmakers announced their full-year results during February and March.
They were no doubt buoyed by results at the Cheltenham Festival which, in stark contrast to the previous year, favoured bookmakers with a number of favourites getting beaten.
Bookmakers also avoided what some have estimated to be a £40 million hit across the industry when Ryan Moore was just touched off in the Lincoln having ridden the three previous winners on the televised card from Doncaster.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][bsf-info-box icon=”Defaults-envelope-o” icon_size=”32″ pos=”left”]For more information about Racing Post’s B2B services, contact us or browse more of b2b.racingpost.com.[/bsf-info-box][vc_column_text]Racing Post B2B caters for all digital content requirements across web, mobile, tablet and retail. But we are more than just a data provider – we enhance raw data with the best and most recognisable content authored by the biggest names in sports betting. Racing Post B2B offers an unrivalled worldwide content portfolio for bookmakers and media associations. Acknowledged throughout the racing and gaming industries, the Racing Post creates bespoke products suited to your audience that will enable your company to maximise profitability by offering unique data, editorial or multi-media solutions.[/vc_column_text][/vc_column][/vc_row]