Analysis calls for review of funding mechanism for horse and greyhound racing in Ireland

A recent economic analysis commissioned by a football body in Ireland is calling for a review of the allocation of betting tax revenue towards horse and greyhound racing. Currently, all income generated from betting tax on any sport is directed towards these two sports, amounting to approximately €100 million per annum. However, the analysis argues that betting on other sports, particularly football, has increased considerably in recent years and that these sports are effectively subsidising horse and greyhound racing. The report suggests that revising the funding mechanism could see football receive approximately €20 million per year, with other sports entitled to a further €40 million per annum. The analysis explores the history of the Horse and Greyhound Racing Fund, which was established in 2001 to allocate betting excise duty generated in Ireland to horse and greyhound racing in an 80:20 split between the two sports to reflect their contributions. However, KHSK Economic Consultants estimate that bets on horse and greyhound racing combined now account for only 50%-60% of the total revenue generated by the betting tax. The analysis argues that the criteria for the distribution of funds should be updated to reflect the current betting landscape and spread the income beyond the two existing beneficiaries.