Betfair Offers £40 Million to British Horse Racing

After a long period of negotiation, the British Horse Racing Authority have come to an agreement that will see both parties partner up over the course of the next five years. Since horse-racing is an important part of UK’s gaming culture, this deal is certainly in line with the interests of the country at large.

As it stands, Betfair makes a voluntary donation to the British Horseracing industry every year. While the payment is not mandatory, the company always ensures that it is generous. However, the new agreement is part of a five-year deal that will see Betfair awarding over 10% of its profits to the horse racing market in the UK.

In return for Betfair’s generosity, the British Horseracing Authority will guarantee a certain number of fixtures every year. As such, Betfair will also see some great benefits from this new partnership, and it is a milestone event in the market. The BHA is pleased with the outcome of the negotiations and is optimistic about the future.

“We hope that similar arrangements with other betting operators will follow”, says Paul Bittar of the British Horseracing Authority.