GBI Racing is searching for other opportunities after the Israeli government introduced a ban on horse racing betting.

The UK-based corporation, which distributes coverage of British and Irish racing to betting operators in Israel, is set to receive £4.9m in compensation from the Israeli government.

According to the Racing Post, GBI Racing had a contract in place with the Israel Sports Betting Board that was due to run through to August of this year.

However, after the ban on horse betting in Israel was introduced this week, GBI Racing has been forced to halt operations in the country.

Israel’s Ministry of Finance, which pushed for the ban on horse racing gambling, has agreed to pay the large sum.

Read the article from Horse Betting.com.au

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