Although gambling companies in the majority of countries, which suffer from the lockdown, are against any additional taxes or fees, the UK bookmakers have agreed to support the horseracing vertical by paying increased fees.
According to the British betting news, companies will provide financial assistance to horse races until the beginning of December. This will help the industry to stay afloat during these hard times when betting offices are closed for visitors.
Horseracing events organizers are grateful for the help
Bigger fees on streaming are the only possible way for the vertical to go through the lockdown without becoming bankrupt. Additional funds will allow racecourses to continue their operation. It is worth mentioning that the current situation in the sector is difficult as from March the events have been held without the audience, which influences the financial state of racecourses negatively.
Representatives of some racecourses confirm that the horseracing sector is suffering from immense financial losses. Even operators’ help can’t cover all expenses to the full extent. The industry doesn’t receive the appropriate amount of funding, which damages it considerably. Moreover, the situation will remain the same for a month and even longer. Some industry experts predict that even after the lockdown ease, betting shops may stay closed. The Betting and Gaming Council continues to ask the UK government to allow them to reopen when lockdown finishes with following all safety measures.