Prize-money is set to rise thanks to government reforms

Income and expenditure on areas such as prize-money are set to rise according to the Levy Board's annual report, which was published last week.

Government reforms to the levy system that came into force earlier this year have bedded in well, the board said.

In his statement in the report, Levy Board chairman Paul Lee said: "Congratulations are due to all those in government and racing who worked to achieve an extension of the levy to bookmakers based outside Britain. This has been regarded, including by the Levy Board itself, as a long-running issue to be addressed."