Wondering if anyone on here can answer a question for me about bookmakers and the sports they cover. As I understand it bookies in this country pay something like 10% of their gross profits into the Horse Racing Levy which is, in turn, used for a variety of things but mostly prize money for horse races. So far so fair.
But do bookies pay other sports for their products?
Taking RL, for example, every week there are 7 SL and a dozen semi-pro matches staged around the country. And the bookies all offer various ways to bet on these events. Are they taking someone else's product and using it to make money without paying for that product?