SBC News Voice of the Sports Betting Industry
The UK Horserace Betting Levy Board (HBLB) has published its official expenditure plans, outlining racing funding allocations for the full calendar year 2019.
In its statement, HBLB governance details that it has established how to allocate its reduced budget of £94m (previously £99m) to support racing innovations, resources and stakeholders.
The statutory body overseeing the racing levy responsibilities has committed to deliver ‘live sectional timing and tracking technology’, with the aim of new innovations being made available at every British racing fixture by the end of 2021.
Moving forward, HBLB has allocated a ‘total of ‘£900,000 over the next three years‘ contributing to the ‘operating costs at fixtures’ (implemented from 1 April 2019) to begin the rollout of tracking technologies across UK racetracks greed with the relevant rights holders.
HBLB said that the funding should allow for racing media and technology stakeholder to ‘invest further in developing their own tailored solutions’, bringing new dynamics to UK racing.
The HBLB emphasised: “Accurate and fast data for all races is widely regarded as beneficial in engaging new audiences, while also offering bookmakers the opportunity to develop more compelling betting products in an increasingly competitive mark.”
HBLB also underlined the development of sectional timing and tracking technologies as key provisions which will help key data-based evidence for industry priorities including equine welfare, integrity and regulation.
Reacting to HBLB’s expenditure plans, racing technology incumbent Total Performance Data welcomed the Board’s focus on innovation, branding tracking and sectional timing as essential tools for enhancing racing audience engagement.
TDP, an enterprise which seeks to optimise racing engagements, has to date published data free of charge from 88,000 horses over 11,000 races in the UK and North America over the last three years through 22 installations.
“TPD is delighted to hear that the UK Horserace Betting Levy Board are financially supporting the rollout of tracking and timing,” read a statement on the company’s website.
“We look forward to working with all parties to help further develop this exciting strand of work which can have significant long term benefits for the sport. We are particularly grateful for the ongoing support of the BHA, together with the RCA and Horsemen to ratify this funding.”
