Determination of the 50th Levy Scheme
The Board noted the details of the Determination of the Secretary of State for the 50th Levy Scheme, for which the following terms will apply:
• The headline rate of Levy will increase from 10% to 10.75% for Licensed Betting Offices (LBOs) as well as for telephone and internet betting operators (including betting exchanges).
• The ‘threshold’ level beneath which LBOs pay an abated rate of Levy will be reduced to £50,000.
• Levy will continue to be payable only in respect of profits arising on bets placed in relation to British horseracing.
• The rate of Levy for bookmakers who derive their gross profit from spread betting business will increase from 2% to 2.15%.
• The flat fee for on-course bookmakers and bookmakers standing solely at point-to-point events, harness racing and/or trotting will increase (in line with RPI) to £210 and £166 respectively.
• The amount payable in advance by LBOs, telephone and internet betting operators will continue to be calculated on the basis of their liability under previous Schemes – subject to an uplift of 7.5%.
The Secretary of State estimated Levy income to be between £73.7m and £80.8m.
Process for the 51st Levy Scheme
The Board will discuss the process for the 51st Scheme at its meeting in May.
Betting Exchanges Consultation
The Board decided to publish two recently received opinions from Lord Pannick QC and Michael Fordham QC on the Levy Board’s website here.
Fixture Criteria 2012
The Board approved its 2012 Fixture Criteria, which is now being discussed with the RCA and the Fixture List Advisory Group (FLAG).