The Department for Culture, Media and Sport (DCMS) has today published a Frontier report into the funding of the horseracing industry in Britain. The report was commissioned to help inform DCMS’s decision about a replacement for the Horserace Betting Levy, which was published recently.
Frontier’s report explored the costs incurred and revenues generated by the British horseracing sector. To support the proposals for a replacement for the Levy, the report also considers the nature of the economic relationship between betting and horseracing. This includes analysis of the current revenue flows between the two industries, and the extent to which there are ‘common interest’ costs between betting and horseracing.
Drawing on a range of quantitative and qualitative data sources from both betting and horseracing, the key findings from the report are:
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