Connect with us
bgc-members-made-record-contribution-to-british-horseracing-last-year bgc-members-made-record-contribution-to-british-horseracing-last-year

Latest News

BGC Members Made Record Contribution to British Horseracing Last Year

Published

on

Reading Time: 2 minutes

 

Betting and Gaming Council members directly contributed £455m to British horseracing last year in levy, media rights and sponsorship deals, new BGC figures reveal.

In addition, bookmakers spent £125m on marketing to promote racing and betting through advertisements and partnerships, helping secure terrestrial coverage of the sport, support two racing channels and raise revenue for print newspaper titles.

Showing a significant rise on previous estimates, media rights payments alone have increased by around £45m since the previous year, totalling £340m in 2022.

Meanwhile, levy payments are projected to be £99m in 2022/2023 – up from £50m in the year 2016/2017, according to the Horserace Betting Levy Board.

These new figures dwarf previous estimates on the regulated sector’s direct contribution to horseracing, which had placed the figure at around £350m a year.

This record investment also enabled horseracing to use some of these revenues to deliver record prize money of £179.3m in 2022.

Michael Dugher, CEO of the BGC, said: “BGC members in the regulated betting industry are now paying more towards British horseracing than ever before, despite a 10.3 percent reduction in betting turnover on racing in the last five years.

“These huge sums also come at a time when the regulated betting sector is under enormous pressure, not least in the form of recent measures unveiled in the Government’s White Paper.

“As well as being a world-leading great British sport, enjoyed by millions, just like the betting industry, horseracing is a vital pillar of the economy, important to countless communities across the country and supporting tens of thousands of jobs.

“There has always been a symbiotic relationship between betting and racing. Our two industries can only succeed and prosper in the future if we work in unison towards a shared goal of growing the sport as a product – especially in the face of a recent decline in betting on racing.

“These figures show that betting continues to bankroll the sport but it is not a bottomless pit. I know racing, just like any other sport and indeed our own land-based betting and gaming industry, is trying to bounce back post-covid in the face of seriously challenging economic headwinds – a task made even harder for racing and betting because of the decisions the Government deliberately chose to make in its recent White Paper.

“That is why BGC is fully committed to working together with the leadership of the sport, including the BHA and others, to ensure racing not only survives but thrives. Anyone who cares passionately about the sport, as I do, understands that racing must change. Future investment must come with reform.

“It is also important to note this funding to racing only comes from licensed bookmakers. The unsafe, unregulated gambling black market is a growing threat, and it makes no contribution whatsoever to horseracing.”

The figures are estimates covering the 2022 calendar year based on exact data supplied by the BGC’s largest members, which account for around 85% of all GGY on horserace betting.

Horseracing is the second biggest sport in the UK, second only to football, with more than five million people attending around 1400 fixtures annually across 59 racecourses.

Latest News

SlotMatrix ignites the reels of West Virginia with Wild Extravaganza launch

Published

on

slotmatrix-ignites-the-reels-of-west-virginia-with-wild-extravaganza-launch
Reading Time: < 1 minute

 

SlotMatrix, the world’s largest casino content aggregator, has expanded Wild Extravaganza’s reach in the U.S launching in West Virginia, alongside existing markets, New Jersey and Michigan.  

Wild Extravaganza is a high-energy 5×3 video slot that packs vibrant visuals, dynamic gameplay, and huge win potential in a 10-payline experience. The game pays left to right, right to left, and even from the middle, offering players multiple chances to win on every spin.

The core feature of Wild Extravaganza is its multiplying wilds, which can stack on three of the five reels and can reveal a 2x, 3x, or 7x win multiplier.

Wild Extravaganza is fully supported by EveryMatrix’s suite of advanced engagement tools, including free spins, leaderboards, and tournaments, helping operators drive acquisition and retention in regulated U.S markets.

This U.S release is part of a recent surge of SlotMatrix exclusive games entering the market, including 3 Coin Treasures, Lara Jones Treasures of Egypt 2, and Glorious Diamonds.

EveryMatrix holds licences in key North American markets, including West Virginia, Michigan, Pennsylvania, Connecticut, and Ontario, and powers more than 300 customers globally.

Stephen Orchard, Head of Commercial Operations, SlotMatrix, said: “Wild Extravaganza is all about giving players thrilling, fast-paced action and the chance to land some seriously big wins. We’re excited to bring this experience to West Virginia as we continue our expansion across the U.S.”  

The post SlotMatrix ignites the reels of West Virginia with Wild Extravaganza launch appeared first on European Gaming Industry News.

Continue Reading

Latest News

SlotMatrix ignites the reels of West Virginia with Wild Extravaganza launch

Published

on

slotmatrix-ignites-the-reels-of-west-virginia-with-wild-extravaganza-launch

 

SlotMatrix, the world’s largest casino content aggregator, has expanded Wild Extravaganza’s reach in the U.S launching in West Virginia, alongside existing markets, New Jersey and Michigan.  

Wild Extravaganza is a high-energy 5×3 video slot that packs vibrant visuals, dynamic gameplay, and huge win potential in a 10-payline experience. The game pays left to right, right to left, and even from the middle, offering players multiple chances to win on every spin.

The core feature of Wild Extravaganza is its multiplying wilds, which can stack on three of the five reels and can reveal a 2x, 3x, or 7x win multiplier.

Wild Extravaganza is fully supported by EveryMatrix’s suite of advanced engagement tools, including free spins, leaderboards, and tournaments, helping operators drive acquisition and retention in regulated U.S markets.

This U.S release is part of a recent surge of SlotMatrix exclusive games entering the market, including 3 Coin Treasures, Lara Jones Treasures of Egypt 2, and Glorious Diamonds.

EveryMatrix holds licences in key North American markets, including West Virginia, Michigan, Pennsylvania, Connecticut, and Ontario, and powers more than 300 customers globally.

Stephen Orchard, Head of Commercial Operations, SlotMatrix, said: “Wild Extravaganza is all about giving players thrilling, fast-paced action and the chance to land some seriously big wins. We’re excited to bring this experience to West Virginia as we continue our expansion across the U.S.”  

The post SlotMatrix ignites the reels of West Virginia with Wild Extravaganza launch appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Compliance Updates

Bacta commissioned research shows huge support for seaside arcades led by Gen Z

Published

on

bacta-commissioned-research-shows-huge-support-for-seaside-arcades-led-by-gen-z
Reading Time: 2 minutes

 

The findings of independent research conducted by Censuswide among a sample of 2,000 UK Nationally representative respondents aged 16+ shows that Generation Z has fallen in love with the seaside arcades so popular with their grandparents. 

The research reveals that 8 in 10 respondents (81 percent) view seaside arcades as being part of British culture and it is young Brits that are banging the drum for arcades, with 90 percent of 25–34-year-olds backing their importance.

Despite overwhelming public support from Britain’s younger generations, seaside arcades continue to face a perfect storm of challenges from rising energy and staffing costs, plus the threat of increased taxation as suggested by former Prime Minister Gordon Brown.

72 percent say Government should do more to protect them – with 86 percent of those aged 25-34-years calling for urgent action.

The research findings confirm the central role played by seaside arcades with 72 percent of adults saying they would visit an arcade on a trip to the seaside a figure that rises to 91 percent for 24-34-year-olds.

In terms of providing accessible entertainment 55 percent say that arcades offer great value for money, making them the UK’s most affordable family day out. As a result, 84 percent confirmed they have enjoyed arcades with multiple generations of their family.

The importance of contributions to local economies featured highly in the research paper with 7 in 10 stating that arcades play a key role in regenerating seaside towns, a figure that rises to 85 percent of 18-24-year-olds.

Reflecting on the research findings Joseph Cullis, President of UK trade association, Bacta said: “Britain’s seaside arcades are a vital element of our proud tourism industry, a modern cultural icon, and have been a fun family activity for more than a century.

“It’s brilliant but not surprising to see young people are embracing them with all the enthusiasm of their parents, grandparents and great-grandparents before them.

“At Bacta, we’re fighting to protect our seaside arcades from the threats of rising costs and from those who want to tax them out of existence. We hope that local councillors, MPs and the Treasury will heed the wants and needs of the British people and protect these vital institutions.”

Elliot Ball, who co-owns and runs Clacton Pier with his brother Billy, said other attractions would be at risk if arcades were taxed even more.

“I’m the fifth generation of my family – on both sides – involved in amusement arcades so this is a labour of love” he stated.

“But the threat from the government to raise gambling tax would put at risk a traditional family day out to the seaside. Trips here have been making memories for generations, and it’s great that younger people are finding the same safe, harmless fun on the pier that has been raising a smile and lighting up eyes for years and years.

“We’ve bounced back from the pandemic and the rise of staycations helps, but many of Britain’s most beloved seaside attractions will be put at high risk if gambling taxes rise.”

The post Bacta commissioned research shows huge support for seaside arcades led by Gen Z appeared first on European Gaming Industry News.

Continue Reading

Trending