The UK’s Horserace Betting Levy Board (HBLB) is to make swingeing cuts to prize money and fixture incentives after waking up to the fact that it has to cut its coat according to its cloth. The HBLB must make savings of £3.75m during the remainder of the year as the fallout from the emigration of bookmakers such as William Hill and Ladbrokes, who no longer contribute to the levy, takes effect. Fact is, if they don’t cut their cloth, they’ll soon be touching it. Read more.
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