British racing receives multi million donation by Betfair
Betfair has shown its constant support for British racing through a donation of GBP 6 million this week. This donation was made because of 50th Levy Scheme payment that the company would have to make if the company stayed under British license. Betfair is the only major company not under British license to donate a sum which is equal to the Levy conditions.
The donation will be given to Horserace Betting Levy Board within the coming week. It was also committed by Betfair that the company is going to further invest GBP 3 million for the coming 3 years into the racing’s grassroots. Mr. Cruddace who is the Chief Legal and Regulatory Officer of Betfair said that the company is having a reputable record in supporting racing in Britain and this huge figure is a testament for the dedication towards the sport. He said that he will be encouraging other operators who are not licensed in Britain but who are accepting bets on British racing to follow the same. The Chairman of Horserace Betting Levy Board, Mr. Paul said that when the receipts of Levy are falling, the involvement is quite crucial and he is especially happy that it will reach to prize money in year 2012 when at the moment they are facing a considerable scarcity. Mr. Penrose who is Minister for Tourism and Heritage, UK Department for Culture, Media and Sport said that they welcome the announcement from Betfair and they strongly support other betting operators to follow the same. This is a constructive step towards the industry of betting and racing at a time when every area is dedicated towards finding a permanent resolution for the levy. In similar news, Betfair has also released a smartphone racing application for Royal Ascot. Timeform powers the web application ‘Betfair Racing on your mobile’ and offers the racing lovers with a product which is all in one. It has Timeform star ratings, complete results service, Timeform tips, and detailed race cards. Mr. Johnson who is Director of Racing of Betfair said that the expansion of Betfair Racing on the player’s mobile has emphasized on 2 things – their commitment to provide the players with the best and complete products and continuing modernization in the field of mobile gaming. The company is on a employment phase, following the loss of both senior and middle managers with the declaration of Mr. Chuter in newly built position of Group Operations Director.
