(PRESS RELEASE) -- Sporting Index has reached an agreement with British racing under the Authorized Betting Partner (ABP) model.
The leading sports spread betting firm has committed to maintaining a funding relationship with British racing until at least 31 March 2019.
Under the terms of the ABP agreement, Sporting Index 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 its operations outside of the U.K. 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 Authorized 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 Authorized Betting Partner of British racing, and pleased that they recognize the mutual benefit of a partnership approach between racing and betting.
"The Authorized 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."
> Latest Headlines
The stories that are the news.
> Daily News
In depth coverage of the news that
affects the gaming enthusiast.
> Featured Articles
Articles by RGT's featured writers.
> Vegas News
Tales from Sin City.
> Investor News
Press releases and Investor info.
> Casino City's Online Poker Directory
The web's most comprehensive online
> Advanced Search
Check our archives for past articles.