After pointing out the monetary value of taxation derived from betting on horse racing, local and overseas events, for the period 2022-2023, almost $500,000 million, as reported by the Betting Gaming and Lotteries Commission (BGLC), let’s take a look at the various tax percentages taken off the top of the betting dollar and apportioned to whom.

This exercise is intended to, again, point out to horsemen why purses, prize money for competing in horse races, are partially legislated as subsidies worldwide, via state and national law, as opposed to the standalone 51-49 per cent of gross-gaming revenue (GGR) agreement signed between local-racing promoter Supreme Ventures Racing and Entertainment Limited (SVREL) and horsemen in 2022.

First, what is gross-gaming revenue? It is simply an international metric used to calculate the total amount of money wagered minus the amount paid out as winnings. Therefore, at Caymanas Park, total sales on local racing, minus payouts (dividends), equals gross gaming revenue of which SVREL retains 51 per cent and 49 per cent goes to prize money (purses).