UK operators lend support to horseracing industry with one-month package
Bookmakers top up streaming and data fees to provide much-needed financial aid to struggling sport until 2 December
Bookmakers across the UK and Ireland have agreed to pay additional fees to support the horseracing industry throughout November.
As a result of the second nationwide lockdown imposed in England by Prime Minister Boris Johnson, bookmakers will lend further support to the Racecourse Media Group (RMG), which provides streaming and data to bookmakers from 35 British and all 26 Irish racecourses.
According to UK trade body the BGC, the extra revenue from online operators will help racecourses make up a shortfall in revenue caused by the closing of retail betting shops across the country.
The England-wide lockdown will remain in place until at least 2 December, however owing to the existing three-tier system, betting shops may remain closed even beyond this date.
The agreement mirrors a similar motion drafted up in June and July when betting shops remained closed.
With spectators returning to racecourses a pipedream at present, the horseracing industry will struggle to survive without intervention.
The BGC has called on the UK government to act quickly and responsibly to help support both the horseracing and retail gambling industries.
Michael Dugher, BGC CEO, said: “There has always been a close relationship between betting and racing. So, with the government’s ongoing Covid restrictions affecting the sport so severely, it’s welcome that bookmakers are stepping up to further support the sport.
“This extra funding for streaming and data rights will undoubtedly help racing’s finances for the next month and I’m delighted to see BGC members assisting the sport in this way.
“We will continue to make the case to the government that betting shops should be allowed to re-open, in line with the rest of non-essential retail, once the national lockdown ends, and that socially-distanced crowds return to race meetings as soon as possible,” he added.
Nick Mills, RMG commercial director, said: “We are very grateful to all our streaming and data partners who have agreed to pay an increased fee for the RMG Watch & Bet service for one month.
“This will help compensate our racecourses for some of the revenues lost from our LBO (Licensed Betting Office) business, while shops are closed. This shows what can be achieved by racing and betting working effectively together, which is especially important in these times,” he added.