Book Details
| Author | : Great Britain: Parliament: House of Commons: Culture, Media and Sport Committee |
| Genre | : Business & Economics |
| Release | : 2008-01-23 |
| File Download | : 141 |
| ISBN_10 | : 0215038223 |
| Format | : PDF, EPUB, And Audiobooks |
| Price | : FREE |
In-course horserace bookmaking has undergone substantial regulatory reform, since the enactment of the Gambling Act 2005 (PGA 2005, Chp.19, ISBN 9780105419051). In particular the reform of allocating on-course horserace bookmakers' pitches (the physical position each bookmaker occupies on the racecourse). This issue has been the subject of a dispute, particularly since a certain number of bookmakers have bought what they believe is an existing "tenure" in perpetuity on a bookmakers' list. The Gambling Act also removed the requirement of horse racecourses to obtain a certificate of approval in order to operate. This also removed the "five times rule", which capped the charge to a bookmaker for admission to an enclosure at five times the amount of the highest charge to members of the public for admission to that enclosure, a development the Committee approves. With the removal of certificates of approval by the Act, this also removed the mechanism which ensured that racecourses observed bookmakers' lists (where bookmakers that attend the racecourse are entitled to pick their pitch position in accordance with their respective list position). The Gambling Act has enabled racecourses and bookmakers to enter into commercial arrangements for the pricing and allocation of pitch positions. The Committee though does welcome the efforts of bookmakers and racecourses to agree new arrangements for the administration and regulation of on-course betting and the establishment of the new working party to consider the issue of pitch positions. The Committee believes that if racecourses wish to move to a fully commercial relationship for the allocation and pricing of pitch positions, compensation should be made available for those who purchased a list position under the system of certificate of approval. If the racecourses and bookmakers cannot reach a commercial arrangement over pitches, the Committee believes the system of bookmakers' lists under the certificate of approval should be reimposed.
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