Britain’s Horserace Betting Levy Board (HBLB) has forecast £99.0m (€113.7m/$123.1m) in levy income for the 12 months to 31 March 2023, following provisional submissions from most levy-paying bookmakers.
The figure would surpass initial expectations of between £90.0m and £95.0m, which was based on events in the early to middle part of the year. It would also be 2.1% higher than £97.0m in the previous year.
HBLB said the increased forecast comes amid a continuing decline in turnover, which was being partially mitigated by margins. Actual margins were markedly above average in both February and March, during which turnover fell year-on-year.
“The board will be making decisions on prize money for the September to December period at its meeting next month and this likely outturn provides additional clarity in coming to those decisions,” HBLB chairman Paul Darling said.
“Although overall yield looks to be similar to or slightly up on last year, total turnover and race-by-race turnover ar..