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:
“Jealousy is both reasonable and belongs to reasonable men, while envy is base and belongs to the base, for the one makes himself get good things by jealousy, while the other does not allow his neighbour to have them through envy.”
—Aristotle (384–322 B.C.)
“While I am in favor of the Government promptly enforcing the laws for the present, defending the forts and collecting the revenue, I am not in favor of a war policy with a view to the conquest of any of the slave States; except such as are needed to give us a good boundary. If Maryland attempts to go off, suppress her in order to save the Potomac and the District of Columbia. Cut a piece off of western Virginia and keep Missouri and all the Territories.”
—Rutherford Birchard Hayes (1822–1893)