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Bookmakers in talks on funding

27 Dec 2007

LONDON, England -- As reported by the BBC: "Three bookmakers are in talks with more than 20 racecourses over an alternative to the £90m horse-race bet levy that funds the industry, a newspaper says.

"The betting levy is a flat fee, negotiated annually, that bookies have paid since 1961 to fund horse racing.

"Ladbrokes, William Hill and Betfred are the three companies involved in the talks, the Daily Telegraph reported.

"...Bookmakers are looking for the levy to be cut by $50m to offset the extra cost of buying footage from Turf TV, a television service backed by 31 tracks..."

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