Lower betting costs expected after bookmakers’ dispute is settled

LEADING bookie Ivan Yates has said punters can expect lower betting costs “in due course” following the “fair and amicable” settlement of a multi-million euro dispute between 59 Irish bookmakers and the British Horseracing Board (BHB).

The row was about agreements under which the Irish bookies paid fees and entered into licences for access to a racing information database. The action was settled on the basis of the termination of the licence agreements and a once-off payment of €300,000 to the Irish bookies who will be able to continue to use the database until January 9 2006 when they hope to have an alternative information service. Both sides will pay their own legal costs.

The settlement was announced yesterday by Bill Shipsey SC, for the Irish bookies, to Mr Justice Peter Kelly on the third day of the High Court hearing. On the application of both parties, the judge struck out the action with no order for costs.