Horse Racing and Greyhound Racing have emerged as winners from the Budget 2025 deliberations with funding for the two sports, and the industries closely tied to them securing the biggest ever total in the 23 years since a specific fund based on betting duties was introduced.
The 2025 figures will be €79.28 million for Horse Racing and €19.82 million for Greyhound Racing.
This represents a 4.1 percent increase for both and was welcomed across the two sporting bodies.
Minister for Agriculture and the Marine highlighted in his Budget press conference that both industries were important sources of employment, particularly in rural areas and highlighted that the funding was contingent on the highest standards of animal welfare, where there was continuous improvement.
Other sporting bodies including the Federation of Irish Sport and the FAI had pressed for the link to the betting revenues to be shared among other sports but this remains something of a distant prospect, despite the fact that betting on horse and greyhound racing is now much less than it is for football internationally.
Finance officials have always held to the view was that the funding was related to the revenue gleaned from betting taxes but that it was not ring-fenced, as this would run counter to the principle of all taxation coming into and being distributed centrally with regard to the whole of Government spending.
Speaking to The Racing Post newspaper yesterday Horse racing Ireland CEO Suzanne Eade said that “We have received a budget allocation of €79.28m, a 4.3 per cent uplift on 2024. The Department of Agriculture, Food and the Marine has also set aside the first year of funding towards the redevelopment of the Irish Equine Centre.”
“We’re very pleased to have received the continued support for the industry from the department. HRI’s budgeting process for 2025 is already under way and will be focused on key strategic priorities for the industry.”
Our Budget 2025 Coverage and Reaction will continue across the coming days.
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