Bookmakers seek logic behind likely new ate

Bookmakers will be seeking more information this week on the “logic” behind the government’s thinking after it emerged that sports minister Tracey Crouch was “minded” to set the rate for the proposed levy replacement system at ten per cent.

That rate, which would apply to both retail and online betting operators, could result in income of more than £90 million per annum for British racing by capturing a share of betting on the sport lost when bookmakers moved offshore.

Crouch is due to meet racing and bookmaker representatives tomorrow to discuss the matter, and representatives of the sport and betting were largely keeping their own counsel in advance of those meetings as they digested the news which was relayed to them by letter on Friday afternoon.