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Racing's fortunes hostage to those of betting shops
Bill Barber says closures prompted by a crackdown on gaming machines would hit the sport
William Hill: revenue up for start of 2018Credit: David Dew
British racing's financial fortunes are tied inextricably to those of Britain's betting shops.
Until a replacement is found that captures the money currently being lost to the sport from online betting, as is planned from next April, racing's central funding system – the levy – is based on wagering in betting shops.
But dwarfing even that income stream are the payments racecourses receive from media rights, primarily from the television pictures shown in betting offices.
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more inFeatures
- Captain Marvel: how a modern master of Cheltenham and a genuine pioneer executed one of the shocks of the year
- 'We’re delighted with how it's going' - joint-trainers prepare for exciting year after Flat string is doubled
- 'We’ve had to work hard this sales season' - Kennet Valley seeking to build on success with biggest string
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