UK-listed gambling operator Ladbrokes Coral has decided to voluntarily pay a levy on its international online betting turnover from UK greyhound racing.
UK retail betting operators already return 0.6% of their greyhound racing turnover to the British Greyhound Racing Fund. On Wednesday, Ladbrokes Coral announced its intention to voluntarily pay a levy on its “off shore greyhound turnover” once the calendar flips over to 2018.
Starting April 1, 2018, UK betting operators will be required to pay a uniform 10% levy on all revenue derived from the UK horseracing industry, following years of complaints by the British Horseracing Authority that the bookies’ online divisions weren’t paying their fair share to prop up the dying sport of kings. At the time, a Ladbrokes Coral spokesperson said horseracing was “in danger of pricing itself out of friends.”
But Ladbrokes Coral owns four UK greyhound tracks – Crayford, Hove, Monmore and Romford – so this willingness to pay higher greyhound betting rights fees is basically Ladbrokes Coral subsidizing its own operations, and likely hoping that the government will eventually require rival betting operators to kick in as well.