Horserace Betting and Olympic Lottery Act
The Horserace Betting and Olympic Lottery Act 2004 consists of two parts:
First, it addresses the Government's remaining involvement in the financing of horseracing. Specifically, it allows for the sale of the Horserace Totalisator Board (the Tote) and the abolition of the Horserace Betting Levy Board (the Levy Board).
Secondly, it enables National Lottery games to be established that are dedicated to raising funds for the Olympic Games. It creates the necessary structures for holding the proceeds from these games and a distribution mechanism so that those proceeds will be used in enabling us to stage the London 2012 the Olympic Games.
The full text of the Horserace Betting and Olympic Lottery Act 2004 and comprehensive explanatory notes have been published by the Stationery Office.
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