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Those who make the most money should pay.
The major bookmakers keep announcing record profits.
A lot of that profit is now from non racing products but without racing to attract customers would they have made as much money? Therefore bookmakers should contribute to the levy based on their total profits (inc sports, virtual, FOBT, etc.) not just the profit from UK racing.
Take this winter – if there wasn’t evening racing the shop opening hours wouldn’t have been extended and there would be no profit for betting shops from non racing products. Racing has been kind (or dumb) enough to put on meetings in the hope of producing more levy. Unfortunately all it will ultimately do, is lose punters cash to racing.
Good god.
The major bookmakers are bleeding the sport dry and someone wants exchange punters to pay 10% commission?
What people who say commission increases don’t matter mustn’t realise is that they are applied to every bet. In an afternoon if you win £1,000, lose £1,000, win £1,000 and lose £1,000 betting shop punters finish level but you want exchange punters to pay £200 in commission? Please don’t say the exchange odds are 20% better to make up for it! They certainly aren’t since major bookmakers have started spoofing the exchanges to lower prices.
A better suggestion would be that the bookmakers hand over the 1% or 2% they are thieving via the new SP system.
Re FOBT’s racing has shot itself in the foot with the new winter evenings. Don’t they realise punters only have so much cash to spend? It isn’t an endless supply! Now punters will lose their cash betting on non racing products on an evening and won’t be seen betting on the more horse race meetings the following afternoon.
There is no point in increasing the tax because bookmakers would then just want more machines per shop to make up the difference. The number of machines per shop now is only an agreement not a law. It’s only a matter of time before bookmakers take the next step.
