A LAW change to close a loophole in the horse racing levy looks set to become law, meaning that British Racing will get a financial boost of £30-40m a year.

Devizes MP Claire Perry said the new system will extend the levy to remote operators based offshore, closing a loophole that has led to the loss of millions of pounds from British racing's finances.

The Horserace Betting Levy Regulations 2017 received cross party support this week, meaning that it is likely to become law very shortly.

Ms Perry said: “I have worked for many years with local racing stables and the British Horse Racing Authority to see this loophole closed, and I was delighted that this change looks set to become law.

"These reforms will create a level playing field between all betting operators and will mean a big financial boost for the industry that employs hundreds of people across my constituency and for a sport supported by millions across the country.”