Horse racing has a rich and long history in our country. However, contrary to the vast majority of other countries that can boast a comparable level of development and tradition of this area, horse-race betting in our country does not represent financial basis for the development of racehorse breeding and organisation of horse races.
The Gaming Act provides the possibility to organise betting at events under the auspices of umbrella equestrian organisations; nevertheless, the Act does not allow for an efficient financing of this field due to the requirements and strict regulation of the Act. The economic analysis of the current regime shows that the intention of the legislator, written down even in the wording of the Gaming Act, cannot be achieved under the current arrangements.
In order to realise the purpose of encouraging the breeding of racehorses, which has a beneficial effect for rural development, local economy and job creation, a comprehensive legislative reform relative to horse-race betting is needed.
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