Simon Bazalgette, Group Chief Executive of The Jockey Club, said: "This Determination recognises the Levy's vital role for the funding of British racing, and in turn, the importance of a strong racing industry to British society and the economy.
"We welcome the Secretary of State’s decision as positive news in the short term and urge the Government and the Levy Board to work with racing and the betting industry to modernise the Levy and address the two larger loopholes under the current system of offshore avoidance and unlicensed operators on betting exchanges.
"The ultimate step must see a more commercially-focused value transfer between betting and racing. This could take the form of a 'racing right' with a payment for the right or license to take bets on our sport. Only then can racing focus on growing our sport, to the benefit of all."