David Power, INBA\’s Chairman, proposes that betting exchanges be taxed on the same basis as off-course bookmakers, at 2 per cent of turnover.
“In the six months to the end of June attendances rose and bookmaker betting was up by approximately 5 per cent. Then on June 24 At The Races started showing live pictures of Irish racing and by the end of December attendances for the year were down and bookmaker betting was down 4.6 per cent for the year while turnover on betting exchanges was up many times on the previous year. And betting exchanges are still paying nothing to racing,” Power said.
“Betting exchanges are not on-course bookmakers. They are off-course entities and their commission does not equate to turnover.”
“On-course bookmakers have a vested interest in the health of Irish racing as that is where they earn their living. Unlike the exchanges, on-course bookmakers play their full part in supporting Irish racing by paying the racecourses in excess of Euro 2.5m per year.”
He added that the on-course bookmakers are not afraid of competition but that they want “a level playing field.”
Calculators
