The announcement that the UK government will introduce changes in the online gambling laws has been well received by the horseracing industry as well as for UK consumers. The government has stated that new modifications will protect consumers and also generate more profits for the horseracing sector.

Under these new regulations offshore groups that offer online horseracing bets will be subject to the same taxes that apply to UK sports bettors and will contribute to funding the horseracing sport and comply with anti-corruption measures. This represents a boost for the UK horseracing industry.

Currently, gambling operators based offshore, like Victor Chandler and Stan James, can offer horseracing bets in the UK but are not obliged to share information concerning suspicious betting patterns. Besides, they don’t have to pat levies, which prompted many operators such as Ladbrokes and William Hill to move to Gibraltar.

According t the Levy Board, the cost for racing of those operations moving offshore has been of approximately £4.2 million. The British Horseracing Board has informed that UK punters who bet in offshore operations would represent a minimum of £10 million a year to the Levy Board.

The new rules will force all bookmakers who offer their services in the British market to give information about possible betting frauds with the United Kingdom’s governing bodies and the Gambling Commission. This measure aims to establish a central anti-corruption body to control integrity in all sports, including horseracing.

“The minister's statement is a very positive start to a year of great importance for racing,” Nick Coward, Chief Executive of the British Horseracing Board commented. “Together we must ensure that the way in which the sport in this country is funded is right for the modern age.”

For the horseracing industry these new regulations are important not only because of anti-cheating measure but also because offshore operations are expected to contribute to the horseracing sport, as implied by Sports Minister Gerry Sutcliffe.

“Of course it's right that all operators pay, wherever they are. Offshore operators have been getting away with it for too long, and racing has taken a considerable hit to its Levy income, and has also had the ever present threat of more moves offshore, with potentially severe consequences,” Sutcliffe commented.