The British Horse Racing Association's threats to demand more money out of offshore bookmakers via the Levy System has finally elicited a very sharp, and somewhat unexpected, response from Gibraltar-based bookmaker Victor

Chandler.

"The BHA [seems] to think that online bookmakers, like me, are absolutely dependent on horse racing. I can assure them they are very wrong. Over the last 12 months, racing has contributed less than eight per cent of my revenues. Twenty years ago, horse racing was 100 per cent," Chandler has been quoted as saying in an article on dailymail.co.uk.

"Racing is the only sport I deal with where revenues are declining. I support racing commercially through media rights, commercial partnerships, sponsorships, hospitality and other areas with over £2 million per year -- far more than I do any other sport.

"If I pay the Levy, I would have to reduce this support by a similar amount, so there is no more money to be gained."

(With files from dailymail.co.uk)

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