Jockey Club profits race

The Jockey Club will today show it can still race despite being handicapped by a sharp fall in payments from bookmakers.

Funding from the levy on bookies' racing profits that funds the sport fell by £8.8m in 2011 as they moved online and telephone operations offshore to avoid a 15 per cent tax on their gross profits.

Despite this the owner of Cheltenham, Newmarket and Aintree, said profits reached £19.2m from £18.3m.