U.K. racing gets shot in the arm with National.

Racing set for £20m shot in arm as layers win big


"TENS of millions" was on Sunday as far as any bookmakers would go in revealing just how much they had made out of the stunning 100-1 success of Mon Mome in the Grand National - money that could equate to a £20 million shot in the arm for the sport.

With bookmakers required to pay racing ten per cent of gross profits via the levy system, estimates of an industry-wide profit of £200m would mean a windfall of £20m for racing, although the positive effects for the industry of Saturday's shock result at Aintree will take some time to filter down.

"A 100-1 winner is very good news for racing," said Michael Harris, chief executive of the Racehorse Owners' Association. "It should be a windfall for racing."

Referring to the fact that levy schemes operate from April 1 each year, Harris added: "It would have made an enormous difference to the levy if it had been the last Saturday of the fiscal year, rather than the first."

Bookmakers, quick to quantify losses at £50m when Comply or Die was backed into 7-1 joint favourite from 10-1 before winning last year's Grand National, were on Sunday coy about just how much they had won this weekend, with spokesmen for Ladbrokes and Coral restricting themselves to saying: "Tens of millions.