Israel bans horse racing betting
The Israeli government will have to pay GBI Racing 6.6 million US dollars after the horse racing ban entered into force in the country.
GBI Racing is a common enterprise of Racing UK and At The Races, which distributes British and Irish horse racing for foreign betting operators.
As Racing Post reports, GBI made an agreement with Sports betting board of Israel, which was in force since August. However, this week's ban on horse racing betting led to the fact that GBI was forced to stop operations in Israel.
According to the Minister of Finance of Israel Moshe Kalon, the revenues that the government collects from gambling are "dirty money".
The Ministry of Finance, which closed the horse racing operations on Monday, agreed to pay compensation in the amount of $ 6.6 million.
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