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British Racing Receives £21.5M from UK Government’s Sport Winter Survival Package

Published

4 years ago

June 25, 2021

George Miller

British Racing Receives £21.5M from UK Government’s Sport Winter Survival Package

Reading Time: 6 minutes

British racing’s leaders and the Horserace Betting Levy Board (HBLB) have announced the details of HBLB’s agreed deployment of £21.5 million of loan funding secured from the Government’s Sport Winter Survival Package (SWSP), with racecourses and participants set to benefit as the sport continues its recovery from the COVID-19 pandemic.

British racing has been impacted by well over £400m in lost racecourse revenues since the start of the pandemic and a reduction of over £65 million paid out as prize money to participants in 2020 (41% reduction). The sport continues to be significantly affected by the limited number of spectators allowed.

The money is being lent by Government to the Horserace Betting Levy Board (HBLB) rather than to any constituent body of Racing as a consequence of the sport’s particular governance structure and the HBLB’s role in providing central funding to the costs of race-day regulation, equine welfare and industry training. The loan will need to be repaid from future Levy returns.

The SWSP was launched by the UK Government in late 2020 with the stated aim of supporting “the immediate future of major spectator sports” that have suffered revenue losses as a result of the absence of spectators. British racing developed its expenditure proposal to the HBLB with the Government’s overarching objective in mind.

£7.5m support to aid British racing’s international competitiveness

£7.5m will be utilised to enhance prize money for the 12 months from July 2021, in such a way as to support engagement levels and maximise the retention of horse numbers in 2021 and beyond. The allocations will be split approximately 60% to Flat racing and 40% to Jumps, in line with the composition of the fixture list and the HBLB’s historic funding split, and will be targeted to support the upper tiers of racing and developmental races.

Support of Novice and Maiden races

The following Novice and Maiden races will receive additional support in the form of fixed grants to top-up prize-money, worth over £3.5 million:

On the Flat, Classes 3, 4 and 5;

Over Jumps, Classes 3 and 4

Support for such races is designed to ensure the benefit to participants is felt as widely as possible, with amounts for each determined by race type and class, with the payments added on top of the minimum value.

Support for Black Type races

Minimum values of Black Type races will not be changed but additional funding will be provided to races run above the minimum value, with every £1 of prize money offered above that amount unlocking an additional £1 of matched funding, up to a maximum amount determined by race class. These races will be:

On the Flat, Group 2, Group 3 and Listed Races;

Over Jumps, Grade 1 and Grade 2 races, including for Novices

The additional funding from racecourses to unlock these matched amounts could deliver an extra £2.5m of prize money on top of the £7.5m allocated, ensuring the extra funds are used to deliver the largest possible increase in the prize-money values of Black Type races.

Support for racecourses

Racecourses have suffered financially not only as a result of the original lockdown but the subsequent absence of spectators and so, with a view to supporting their immediate future, the plans will see a further £7.5m deployed to support the raceday integrity costs incurred at those fixtures. This will be in addition to the existing support provided by the HBLB for the regulatory and integrity costs of fixtures.

The current raceday services grant from the HBLB to racecourses of £12,571 per fixture partly covers the BHA fixture fee of £15,341. In addition, racecourses incur other raceday integrity-related costs totalling approximately £10,000 per fixture at Flat meetings and £6000 at Jumps meetings.

Under the plans for the SWSP loan, an additional payment of £5000 will be added to the raceday services grant from 1 July 2021 to 30 June 2022.

Minister for Gambling and Lotteries John Whittingdale said: “Horse racing is part of our national life. We have stepped in to provide £21.5 million as part of the Sports Survival Package, to help get the sport back on track, secure its future and retain its place on the world stage.”

Julie Harrington, Chief Executive of the BHA, said: “British racing is grateful for this vital support from the Sport Winter Survival Package. We much appreciate the assistance of the Levy Board in agreeing to take on the loan and work with racing to agree how the money is best used and distribute using existing funding processes.

“Plans for the deployment of these funds have been designed to target the areas where we have seen a decline in horses in training and provide confidence in the future to our investors.

“Britain is rightly proud of its unique and world-leading racing heritage. But it is clear that with competition around the globe increasing, this is not sufficient to attract the best in the world to be trained and raced here. Ensuring that prize-money is competitive helps ensure that Britain has the best horses, which benefits everybody who loves the sport.

“It is also important that we recognise the contribution and sacrifices made by trainers and jockeys, and the loyalty of their owners, that have combined to keep racing going during the pandemic.

“Vital to the overall success of British racing are our unique racecourses, whose staff have also worked so hard since racing resumed to ensure we remain compliant with Covid rules and guidelines. Supporting their financial recovery is an important part of this plan and will help to ensure our races retain their place as being at the forefront of the global racing scene.”

David Armstrong, Chief Executive of the Racecourse Association (RCA), said: “Racing and racecourses in particular are very grateful to Government for this vital funding boost for the sport in very difficult times. I would also like to thank Sport England for their tireless advice and support in helping us unlock this funding. We are especially grateful to the Levy Board for stepping in and helping us overcome some of the structural challenges we faced in accessing the SWSP – yet another example of their support during the pandemic.

“Racecourses continue to incur significant integrity costs in putting on Racing on a daily basis and this additional support will be very beneficial at such a sensitive time and during the recovery phase over the next 12 months.”

Charlie Liverton, Chief Executive of the Racehorse Owners Association (ROA), said: “The Sports Winter Package loan will provide a much-needed enhancement to prize-money levels as British Racing, along with other major sports, recovers from the impact of COVID-19. It is well noted that owners spend in excess of £30m a month on training fees to ensure that the race programme is fulfilled, along with jockeys riding fees of around £15m per year. We are grateful to have been able to resume behind closed doors for much of the pandemic, albeit for much-reduced prize-money levels, the impact of which has been felt by owners, trainers, jockeys, stable staff and breeders.

“The resilience of owners is such that overall, horses in training numbers are higher than they have been at any time over the past five years. However, it must be recognised that British Racing does have a problem with the number of two-year-olds entering training. It is a concern that the numbers are down on previous years with domestic and international owners choosing to have their horses trained in overseas jurisdictions because of the higher levels of prize-money on offer.

“Prize-money, and its equitable distribution across the participants, is critical to the retention and future growth of owners and the number of horses in training, which in turn will determine British Racing’s standing amongst overseas racing jurisdictions. We are therefore grateful to Government for providing British Racing with much needed and very welcome financial support.”

Paul Darling, Chairman of the HBLB, said: “HBLB is pleased to announce that it has accepted a ten-year loan of £21.5 million from the Government’s Sport Winter Survival Package. This is in keeping with our desire to provide over and above support to the sport in this exceptionally difficult time.

“HBLB’s involvement came about after Racing indicated that there were structural difficulties with Racing taking up the Government’s support and that it considered HBLB the most appropriate vehicle to do so, which would benefit the whole of the sport and that this secondary model was essential if the package was to help the wider industry.

“HBLB then invited Racing’s suggestions as to how the money should be spent in accordance with HBLB’s statutory duties. The Board considered the proposals and sought detailed reassurance from Racing that the money would be properly and appropriately distributed. The Board accepted Racing’s joint submission and assurances.

“The Board had very much in mind that this money is a loan from Government and not a grant. The discussions involved consideration and agreement of how the money being spent is to be repaid. It is critical that the wider sport fully understands that the effect of this arrangement is that the amount of Levy available to spend in future years will be reduced.

“Over the ten-year repayment period, with repayments required in years three to ten, the loan will carry an interest charge of £2.6m. The total repayments of around £24m will be made out of future Levy years’ receipts over that period through a top-slicing of the Board’s allocations to prize-money and raceday services as the first calls on grant expenditure.”

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Legalizing Online Casino Gaming Could Generate Over $18 Billion in Tax Revenue to US States

Published

25 minutes ago

April 29, 2025

George Miller

Reading Time: 2 minutes

Legalizing online casino gaming could add $18.4 billion to US state budgets, a new study says.

The report, conducted by online casino comparison site BonusFinder.com, analyzed tax revenue generated by online casinos across the seven US states where they are already legal — Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, Rhode Island, and West Virginia — to estimate the total economic impact.

Based on average per-adult spending of $262.40 in those markets, the researchers estimated how much revenue the remaining 44 jurisdictions, including Washington D.C., could generate if they adopted similar legislation.

In total, the study estimated that the states are leaving up to $62 billion in gross revenue on the table.

With a 30% tax rate — an average of the seven states with legal online casino gaming— this would translate into $18.4 billion in tax income annually. Even with a more conservative tax rate of 20%, the figures could reach $12.3 billion.

California is estimated to be missing out on the most — with the analysis showing that its adult population of approximately 31 million could generate up to $2.4 billion in annual tax revenue.

“These numbers highlight two problems,” said Luciano Passavanti, Vice President at BonusFinder.com. “States are missing out on billions in tax revenue, and consumers are being pushed to platforms that don’t offer the same safety, accountability, or responsible gaming tools as licensed operators.”

This concern is backed by a recent report from research firm Yield Sec, which found that 74% of gross gaming revenue in the US in 2023 — totaling $67.1 billion — came from unlicensed, illegal, and unregulated operators.

That means the vast majority of online gambling activity is still happening outside state oversight — costing governments billions in potential tax income and leaving players vulnerable.

“The demand for online casino gaming already exists — but right now, the money is flowing offshore,” Passavanti added. “States that act now have the chance to bring that revenue back into their own economies, and to do so responsibly.”

States where online casino gaming is already legal are directing the funds into essential public services. In Michigan, more than $400 million from iGaming taxes, which includes both online sports betting and online casinos, went to the School Aid Fund, $4 million to the First Responder Presumed Coverage Fund and $3.7 million to the state’s agricultural and equine development programs.

Beyond the financial upside, regulated online casino markets allow states to implement age verification, deposit limits, and self-exclusion tools, offering far stronger consumer protections than offshore operators.

“With over $18 billion in annual tax revenue potentially at stake, the case for legalization is becoming harder to ignore.” Passavanti said.

“As states continue to explore ways to balance budgets and modernize outdated gambling laws, regulated online casinos could offer both financial upside and meaningful consumer protections — if policymakers are ready to act.”

The post Legalizing Online Casino Gaming Could Generate Over $18 Billion in Tax Revenue to US States appeared first on European Gaming Industry News.

Latest News

Gaming Americas Weekly Roundup – April 21-27

Published

2 hours ago

April 29, 2025

George Miller

Reading Time: 2 minutes

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

International Game Technology PLC announced that its dynamic Wheel of Fortune DiamondRS Premium Wheel cabinet recently launched in casinos across the US. Guests of Sky River Casino in Elk Grove, Calif. and of Mohegan Sun in Uncasville, Conn. were among the first players in the world to enjoy the Wheel of Fortune Cash Link Reels Double Diamond and Wheel of Fortune Cash Link Reels Double Gold games on IGT’s new ultra-high-tech, mechanical-reel cabinet. Designed exclusively for Wheel of Fortune game content, the Wheel of Fortune DiamondRS Premium Wheel cabinet boasts a 20-inch physical wheel, a 32-inch LCD top box and a 23-inch transmissive display.

CT Gaming continues its strong momentum from the first quarter of 2025 with a new wave of installations in Panama. Strengthening its position in the Latin American market, the company has partnered with leading operators to introduce top-performing products, including the EZ Modulo 32/32/32 slot cabinet and the highly successful Diamond King series. Among the highlights of the installation is Diamond King 3—CT Gaming’s bestselling multigame featuring 50 captivating titles. Players can enjoy a diverse mix of content, including the legendary Mega Jack trio: Aztec Gold, Slot-O-Pol Deluxe and Champagne Party. The experience is further enhanced by the Diamond Tree progressive jackpot, which delivers elevated gameplay and exciting reward potential.

Las Vegas Sands has contributed $100,000 through the Sands Cares global community engagement programme to 100 Black Men Las Vegas in support of the organisation’s youth mentorship, scholarship and community service offerings. The 2025 donation will enable 100 Black Men Las Vegas to offer new programmes including a science, technology, engineering and math initiative; the Pathways to Public Service programme, which focuses on developing a pipeline of law enforcement and first responder professionals; and Realtist Academy, which prepares participants to become licensed real estate agents or mortgage brokers. In addition, Sands Cares funding will help 100 Black Men Las Vegas pursue efforts to identify a permanent location for the organisation.

Partnerships

SCCG Management has announced an expanded partnership with AWARE, a global leader in biometric verification software. Under this agreement, SCCG becomes a preferred reseller for AWARE’s biometric and identity verification solutions within the global gaming industry. AWARE’s advanced biometric technology offers a future-proof solution for iGaming and gambling platforms—empowering operators to ensure compliance, prevent fraud and protect players, all while delivering a seamless and secure user experience. With growing regulatory scrutiny and rising demand for frictionless onboarding, AWARE’s adaptive biometrics provide a scalable and trusted identity framework for modern gaming environments.

The Brazilian Football Confederation and Sportradar Integrity & Regulatory Services, a unit of Sportradar AG announced the extension of their long-standing partnership, set to begin with the 2025 season. The new agreement aims to enhance efforts to combat match-fixing in Brazilian football and safeguard the integrity of the sport. Sportradar, through its industry-leading Universal Fraud Detection System (UFDS), will deliver integrity monitoring for more than 8200 men’s and women’s matches organised annually by the CBF. Through this renewed partnership, the UFDS will now cover all Brazilian national championships.

The post Gaming Americas Weekly Roundup – April 21-27 appeared first on European Gaming Industry News.

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SOFTSWISS Enhances Leadership Team to Drive Global Expansion

Published

3 hours ago

April 29, 2025

George Miller

Reading Time: 2 minutes

SOFTSWISS, a leading global provider of iGaming software, announces the appointment of three seasoned professionals to key leadership positions: Denis Ilienkov as Product & Technology Non-Executive Director; Kyryl Avdieienko as Chief Product Officer (CPO); and Viktor Iegorov as Chief Delivery Officer (CDO).

These strategic appointments are integral to SOFTSWISS’ vision of strengthening its leadership team to navigate the complexities of the global iGaming landscape, ensuring agility and innovation in product development and delivery.

Denis Ilienkov, in his new role as Product & Technology Non-Executive Director, will oversee product and technology-related operations, including control responsibilities. Kyryl Avdieienko, appointed as CPO, will lead product strategy and development across the SOFTSWISS product portfolio. With a background in iGaming, game development, and fintech, Kyryl brings a wealth of experience to the role. Viktor Iegorov, as CDO, will be responsible for developing processes and managing the strategic delivery portfolio.

These appointments are part of SOFTSWISS’ ongoing commitment to fostering a collaborative and synergistic leadership approach. Denis, Kyryl, and Viktor will work closely to drive the company’s mission of delivering cutting-edge iGaming solutions, fostering a culture of innovation and excellence.

Denis Ilienkov commented on the appointments: “At SOFTSWISS, we’ve always prided ourselves on our agility and innovation. As we venture into new markets like Brazil and South Africa, it’s imperative that our leadership structure evolves to meet the unique challenges and opportunities these regions present. The introduction of roles such as the Chief Delivery Officer ensures that our delivery processes are not only maintained but continuously enhanced. This strategic shift is about more than just titles; it’s about positioning SOFTSWISS to deliver unparalleled value to our clients and partners worldwide.”

These leadership changes closely follow SOFTSWISS’ recent product and technology milestones. Notably, the company celebrated its first Sportsbook Network Jackpot win during the SiGMA Americas event in São Paulo, where a player claimed €80,294.89 – more than doubling the initial €35,000 prize pool. Additionally, SOFTSWISS’ Deputy CTO, Sergey Kastukevich, was honoured as CTO of the Year in EMEA at the 2025 Oracle Excellence Awards, recognising his strategic use of emerging technologies to advance the company’s objectives.

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 27,800 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

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