The statutory levy paid by bookmakers to the horseracing industry will stay at the same level for another year, the two sides agreed on Tuesday. Bookmakers will continue to pay 10 per cent of their gross profits, amounting to around £100m ($147m), which is paid across horseracing to help maintain the industry.

An offer by bookmakers to keep the levy at the same level over the next three years was rejected by the horseracing industry, which preferred a one-year deal.