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What is the role of horseracing betting levy board?

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Horse race betting is a famous sports among the sports betting circles, can you help me know, what is the role of horseracing betting levy board? What duties are performed by the horseracing betting levy board?

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  1. Its role is to assess and collect monetary contributions from bookmakers and the Tote via a levy, which it then distributes for the improvement of horseracing and breeds of horses and for the advancement of veterinary science and education.

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