UK Spread betting firm Sporting Index, has reached an agreement with British racing under the Authorised Betting Partner (ABP) model. The operator will commit to maintaining a funding relationship with British racing until at least 31 March 2019.
Under the terms of the ABP agreement, Sporting Index governance has confirmed that the company’s existing remote betting operations currently fall within the scope of the Levy.
If Sporting Index moves any part of their operations outside of the UK during the term of the agreement, the firm has 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.”