Horse racing in Great Britain On 6 October 2001, the Government abolished the turnover-based tax on betting, which had been 9% of the stake or the winnings, the punter having the choice to pay a certain small amount or an uncertain large amount. The tax, now based on gross profit, is now effectively indirectly levied on the punters, the cost being absorbed in the odds that bookmakers offer. The last 10 years in the UK has seen massive growth in online gambling. Punters are now going online to place their bets, where technology gives them access to a greater wealth of information and knowledge. Now
Sport in the United Kingdom funding plans which were more focused than ever before on rewarding sports which have delivered Olympic success, and as a corollary penalising those which have not. UK Sport also provides money for the recreational side of the main team sports, even football. Other sports benefit from special financial provision. British tennis is subsidised by the profits of the Wimbledon Championships, which are in the tens of millions of pounds each year. Horse racing benefits from a levy on betting. Following the Budget from 21 March 2007 there will be only few tax breaks to British sport in the near future.