Decision could be taken on bookmaker profit levy

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Decision could be taken on bookmaker profit levy

Equine insurance customers could be facing changes to the way that horse racing is funded, according to a report.

Tim Franks, sports news correspondent for the BBC, said that for the past 50 years, the sport has been funded by a levy on bookmakers' profits, however, this year, no agreement has been made, which could see secretary of state for the department of culture, media and sport Jeremy Hunt intervene.

Mark Tompkins, chairman of the Newmarket Trainers' Federation, warned that people are going out of business all the time.

He went on to suggest that equine insurance customers in the industry will "really struggle", predicting only 20 of 85 trainers in Newmarket will survive.

"We still have the best horses in the world. We just don't want the bookmakers to take all the money away from the races," jockey Frankie Dettori told the news source.

The next major meeting is the Breeders' Cup Turf race at Churchill Downs, which takes place on November 6th.

October 26th 2010

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