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British government planning to regulate offshore bookmakers

23 Dec 2009

LONDON, England -- British government is proposing a new licensing regime for offshore bookies, according to a report in The Guardian newspaper.

The racing industry has long expresssed concern about the financial effect on racing of companies moving offshore and with recent match fixing, betting pattern scandals the government appears to be responding, The Guardian reported.

At issue is how to get offshore bookies to provide information on suspicious betting patterns and also how to have them contribute towards the cost of regulation, the Guardian report said.

As soon as companies move offshore they no longer pay the statutory racing levy. Under a new system they'd have to be licensed in the UK, the report explained.

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