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UK Racing 2nd Only To Soccer In Economic Impact
An economic impact study (prepared by Deloitte & Touche for the British Horseracing Board) reports UK horseracing is the 2nd sport after football (soccer) for generating economic activity for revenues through the turnstile & full time employees within the core industry. And it notes racing is ahead of all other activities (including football) for the number of non-raceday, part-time staff employed (over 10,000). The study reveals that in 2005 British racing: generated an estimated £2.856 billion (A$6.854bn) in expenditure; brought in £103m (A$247m) from bookmakers through the levy; generated £298m (A$715m) through racecourses; cost racehorse owners £185m (A$444m) in net expenditure (excluding purchases); accounted for £189m (A$453m) in capital investment; provided fulltime employment for the equivalent of over 88,000 people; & contributed more than £280m (A$672m) in tax.