The Good Neighbour Policy is an agreement amongst horse racing jurisdictions that they shall not provide betting on horse racing to residents of other signatory jurisdictions without the permission of that signatory jurisdiction, nor solicit, market nor advertise betting without prior authorisation from that other signatory jurisdiction.
The signatories to the agreement stated that its purpose was to show their unity in the cracking down on illegal, unlicenced or unauthorised offshore bookmakers on horse racing, in order to protect the revenue of the signatories.
It is viewed by some informed and interested observers as documenting an international cartel to defend the signatories from competition from commercial bookmakers and bet exchanges so as to maintain higher profits for themselves.
Initially signed by the Hong Kong Jockey Club and the Japan Racing Association in 2002. On September 1, 2003, representatives from the Australian Racing Board, the Hong Kong Jockey Club, the Turf Authorities of India, the Japan Racing Association, the Korea Racing Association, New Zealand Thoroughbred Racing, the Singapore Turf Club and the Jockey Club of Turkey signed the multilateral agreement in Hong Kong on September 1, 2003. The Asian Racing Federation also endorsed the agreement.
Famous quotes containing the words neighbour and/or policy:
“The supreme satisfaction is to be able to despise one’s neighbour and this fact goes far to account for religious intolerance. It is evidently consoling to reflect that the people next door are headed for hell.”
—Aleister Crowley (1875–1947)
“A country survives its legislation. That truth should not comfort the conservative nor depress the radical. For it means that public policy can enlarge its scope and increase its audacity, can try big experiments without trembling too much over the result. This nation could enter upon the most radical experiments and could afford to fail in them.”
—Walter Lippmann (1889–1974)