Betting shop closures could cost racing £92m a year, industry warns

The gambling industry says a rise in Machine Games Duty to 40% could close up to 4,000 of Britain's 5,500 betting shops. Citing a Regulus Partners report, it warns racing could lose £92m a year, about a third of its betting income. Shops pay racing via the Levy. The Budget on 28 October will set the rate, now 20%.