While discussing the dicey situation the British horse racing industry is currently facing with bookmakers over the upcoming edition of the horseracing levy, Matthew Hancock, a Tory MP, has offered some comments which can apply to the nature of racing industry group relationships
across the globe.
An article on sportinglife.com explains that Hancock made comments during a Commons debate which were in regard to the idea of overhauling the industry's funding system.
The horseracing levy is paid to the British racing industry by wagering firms. Many bookmakers have argued that the levy level that the racing industry is pushing for in the upcoming version of the levy is too high. The levy is based on a percentage of the gross profits made by bookmakers on racing.
"I think all sides agree that the levy is broken and needs radical reform," Hancock was quoted as saying in the report.
"The bookies think that the levy's broken, racing thinks it's broken, the Secretary of State (Jeremy Hunt) thinks it's broken."
In a quote which can apply to many racing group in many jurisdictions, Hancock went on to say, "No one wants the annual spectacle of ministerial decision about the funding of racing -- not least because it unnecessarily antagonizes relationships, wastes time and money, and prevents a proper commercial relationship between racing and betting."
Later, Hancock said, "I ask you this -- years from now, will we look back in wonderment at this sport of beauty and skill and speed that fell into ruin, or will we say that in the nick of time we gave this great sport that we love the future it deserves?"
(With files from sportinglife.com)
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Imagine UK bookmakers saying
Imagine UK bookmakers saying horse racing is stuck in the 60's and years from now we will look back in wonderment at this great sport that died. I have been posting here for the last year saying over and over again that the race game is stuck in the 60's and 70's. The track GM'S, the boards of directors and track presidents along with racing commission's and so on have to catch onto the fact that they are no longer the only game in town.
You have competition that you never had before. The Walmart's of the world have put all kinds of places out of business, you either adapt to the changing times or you go the way of the dinosaur. The race game has become a welfare industry where they do little to nothing in the way of helping themselves. The only solution they seem to have in north america is to sit back and beg for more handouts. There resistance to change just gets a little bit more pathetic as time goes on.