Why was horse racing betting levy board established?

Question

Horse race betting is a properly established betting business. I would like to know, what was the reason for the establishment of horse racing betting levy board?

Answer 1

The HBLB is a statutory body established by the Betting Levy Act 1961 and now operating in accordance with the provisions of the Betting, Gaming and Lotteries Act 1963 (as amended). Unlike some other non-departmental public bodies, the HBLB receives no central Government grant-in-aid and no National Lottery funding. Instead, it is required by the Act to collect a statutory levy from the horseracing business of bookmakers and the Tote which it then distributes for the improvement of horseracing and breeds of horses and for the advancement of veterinary science and education.