London, 17 February 2017 – Sporting Index have reached an agreement with British racing under the Authorised Betting Partner (ABP) model.
Under the terms of the ABP agreement, Sporting Index have confirmed that the company’s existing remote betting operations currently fall within the scope of the Levy.
If Sporting Index move any part of their operations outside of the UK during the term of the agreement, the firm have agreed to make voluntary contributions to British racing in line with ABP terms.
The principal industry-provided benefits received by ABPs include the use of a kitemark across assets, central promotion through media campaigns, discussions with racing on the composition of the fixture list and access to an account manager resource within racing.
Commercial entities in the sport also offer benefits to ABPs, at their discretion.
Paul Turner, Head of Sporting Index, said: “Sporting Index have been passionate supporters of British racing for 25 years and I’m delighted to underline our commitment to the future of the sport by becoming an Authorised Betting Partner.
“We are looking forward to working closely with British racing in the years to come and hope the sport continues to grow.”
Will Lambe, Director of Corporate Affairs for the British Horseracing Authority (BHA), added: “We’re delighted to welcome Sporting Index as an Authorised Betting Partner of British racing and pleased that they recognise the mutual benefit of a partnership approach between racing and betting.
“The Authorised Betting Partner initiative remains of critical importance to the health of industry and will continue until the new Levy Replacement system is implemented in April.”
About the Sporting Index Group
The Sporting Index Group is best known as the world’s largest sports spread betting business, offering the widest range of markets and taking some of the largest bets on sporting, political and entertainment events around the world.
The Group has 220 staff, all based at its London HQ. It is privately owned and is the undisputed world leader in sports spread betting, dominating the global market with an estimated 80%+ market share. Today it makes thousands of markets on upwards of 500 events every week, offering the sports fan the opportunity to bet on a wide variety of sports, political and showbiz events, as well as on a portfolio of unique virtual games, in addition to a newly launched casino and Live Casino product. Clients transact via its websites, award winning mobile phone applications, and a 24/7 voice telephony service. Sporting Index’s B2C business continues to grow in the face of a fiercely competitive online betting market.
At the heart of the business is a world class trading, modelling and liability management capability that is widely acknowledged as amongst the best in the global betting market. The Group combines the latest technology with unrivalled trader expertise to service its core sports spread betting clients as well as an increasing number of wholesale customers who rely on the company’s fixed-odds in-play pricing data to underpin their own sportsbook operations via the Sporting Solutions brand. This has quickly established itself as a leading data provider with a number of flagship betting brands signed up.
Sporting Index is authorised and regulated in the UK by the Financial Conduct Authority and the Gambling Commission.
About Spread Betting
The principle of spread betting is that the punter is invited to challenge a prediction made by Sporting Index by betting higher (buying) or betting lower (selling) on that prediction. Profits or losses are calculated on how right or wrong you are with the outcome. Spread betting can result in losses that exceed your initial deposit or credit limit.
About the Authorised Betting Partner scheme
British racing’s Authorised Betting Partner (ABP) is a voluntary scheme that aims to reward betting operators who make a contribution on their betting activity to fund British racing in the current environment. In recognition of their support, betting operators are able to use the ABP logo and become eligible for any additional benefits that supporters of the scheme choose to offer to ABPs.
Further information about British racing’s Authorised Betting Partner policy, and a list of its current partners, can be found here.