Horserace Betting Levy Board

Uh, off the track, a few stories.

Uh, the Levy Board has approved a £2.2 million increase in prize money funding for 2027, which the BHA estimates will deliver a £3 million injection into prize money and the associated bonuses across the sport.

So good news for that.

Mr. Del Monte.

After being away for a few weeks, we're going to dive straight into things today with our main guest, the BHA's Director of Racing, Richard Wayman.

It's been a busy time for Richard and his colleagues with the 2027 fixture list published a few weeks ago, and now further details being shared today about a £2.2 million prize money funding increase for 2027 that's been approved by the Horse Race Betting Levy Board.

I spoke to Richard a few days ago about how this money is being used next year and his view on the future of the fixture list, as well as getting his thoughts on a few other key topics.

Richard Wayman, thank you very much for coming back aboard the BHA podcast.

Hi, Nick.

Well, the announcement that we are putting out at the end of September is more around our funding plans for 2027.

And when I say our funding plans, it's obviously the Levy Board who approve central funding of prize money and similar initiatives.

And when we get into September each year, that's when the levy board make their decisions around the following year's funding.

Right, so Jim Mullen spoke to the Racing Post and said the following, "I used to run the UK's largest licensed betting office estate," Ladbrokes, "so I know what I'm talking about.

At the moment, 35% of the Levy Board's incomes," the Levy Board being the body that takes in money from the bookmakers to help fund British racing, "comes from betting shops.

Betting shop income is going to go into such a decline that we," the sport of horse racing, "need to find alternatives.

The idea that the situation is gonna get better is for the birds.

Right.

So the, effectively, the fixture list for 2027 was recently published by the British Horseracing Authority, and it included no reduction in fixtures whatsoever, right? And, um, despite all the evidence that that is what is desperately required by everybody other than the small racecourses, everybody else needs a reduction in fixtures.

Now, in the meantime, it's becoming increasingly clear that the Burnham government in this country is about to try and milk even more money out of the gambling industry, and that is gonna lead to more betting shops closing down, and that is gonna lead to less money coming into horse racing through the Levy Board, and therefore even less money to get spread around these 1,500 fixtures that British racing currently puts on.

So as Jim Mullen quite correctly says, "The problem's getting worse, not better." The issue is, is that to solve the problem, the underlying structures of racing need to tot- need to be tot- t- totally rebooted-